The Real Deal New York

Posts Tagged ‘one57’

  • Inside One57’s big buys

    May 16, 2014 10:30AM
    From left:

    From left: One57, Silas Chou, Lawrence Stroll and George Constantin

    From the May issue: The luxury market has received a lot of press for the outrageous prices buyers are paying. And at almost no building is that truer than at One57, where the average price per square foot is $6,888, according to the building’s offering plan. [more]

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  • Bill Ackman

    Bill Ackman

    From the May issue: With a career marked by big real estate bets, which resulted in both hefty jackpots and big busts, it may not be surprising that William Ackman, who runs the $11 billion Pershing Square Capital Management hedge fund, continues to invest in the sector. [more]

  • Extell sells One57 pad for $30.6M

    May 12, 2014 01:39PM
    Gary Barnett and One 57

    Gary Barnett and One 57

    Another day, another bumper sale at Gary Barnett’s One57. Barnett’s firm, Extell Development, pocketed $30.6 million for a sponsor unit on the 58th floor of the glassy tower, according to property records filed with the city on Monday.

    The 4,483-square-foot pad has four bedrooms and 4.5 bathrooms, according to Extell’s condominium offering plan. The unit was most recently listed at $32.4 million, or about $7,227 per square foot. [more]

  • A rendering showing the expansive views from a One57 apartment

    A rendering showing the expansive views from a One57 apartment

    From the May issue: Gary Barnett’s One57 is the most talked-about residential project to hit the city since 15 Central Park West. But while it may be providing juicy, of-the-moment fodder for the industry, the land for the 90-story skyscraper took a decade for Barnett and his team at Extell Development Company to assemble. [more]

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  • 62a

    From left: 157 West 57th Street, Brenda Powers and Elizabeth Sample

    A day after the $31.7 million sale of a three-bedroom condominium at Extell Development’s One57 hit property records, the sponsor unit is once again fair game and on the market for a price nearly $10 million higher, according to StreetEasy data. [more]

  • balloon

    Aerial photograph from white balloon (Credit: (Inset: Curt Westergard)

    Virginia-based Digital Design and Imaging Services sent a large balloon into the sky over Manhattan this week to snap photographs of future skyscrapers’ views for developers and architects. [more]

  • Extell's Gary Barnett and One57

    Extell’s Gary Barnett and One57

    A Hong Kong-based buyer has shelled out $30.6 million for a 60th-floor unit at Gary Barnett’s One57, according to property records filed with the city.

    Rainbow Choice International Limited closed on the sale March 28. The unit, 60A, isn’t listed on StreetEasy, but a three-bedroom, 4,200-square-foot unit directly below it sold for $30.4 million. [more]

  • Extell’s One57 facing 19 lawsuits

    April 08, 2014 02:50PM
    Extell's Gary Barnett and One57

    Extell’s Gary Barnett and One57

    Extell’s One57, the condominium tower that shattered sales records with a $90 million penthouse sale, has also become the target of a whopping 19 civil lawsuits.

    Job-site injury claims are cited in 10 of them, while a wrongful-death case and alleged $27 million debt to a contractor are also in the mix. [more]

  • One57 sponsor unit sells for $30M

    April 04, 2014 02:10PM

    George Constantin and One57

    A 59th-floor condominium unit at Extell Development’s trophy residential tower One57 has sold for $30 million.

    The buyer, Efstalamar LLC, shares an address with the George Constantin-led Heritage Realty Services. The three-bedroom apartment — a sponsor unit — spans 4,200 square feet. Four sponsor units were listed for sale by Extell in February, asking between $18.85 million and $32.75 million. [more]

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  • Construction at One57

    Construction at One57

    From Luxury Listings NYC: A fire on Saturday at the mega-luxe One57 development in Midtown — where an investor famously purchased the building’s penthouse for a whopping $90 million — became the target of a complaint filed with the state Supreme Court on Sunday. Michael Hurwitz, a lawyer who lives just behind the super-tall building, filed court documents as the sole plaintiff seeking a temporary restraining order barring Extell Development, the construction company Lend Lease and a collection of yet-to-be-identified firms also working on the project from access and further construction. [more]

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  • Fire breaks out at One57 loading dock

    March 16, 2014 10:00AM


    WEEKENDEDITION A small fire broke out on the loading dock of Gary Barnett’s One57 tower just before 9 p.m. Saturday. [more]

  • Extell hit with $27M suit over One57

    March 14, 2014 11:00AM
    Extell's Gary Barnett and One57

    Extell’s Gary Barnett and One57

    Extell Development is facing a $27 million lawsuit from contractor Five Star Electric Corp., which claims non-payment for work done at the One57 hotel condo site — the location where a tower crane collapsed following Hurricane Sandy.

    In the suit filed March 7 in Manhattan Supreme Court, Five Star claims it signed a contract for the project with Extell in 2010, through its construction manager Bovis Lend Lease LMB Inc. (now known as Lend Lease). The development was then known as Carnegie Tower, a 76-story hotel and luxury residential building, at 157 West 57th Street, in Manhattan. [more]

  • Park Hyatt at One57 set to open in August

    February 25, 2014 08:34AM

    Renderings of Park Hyatt at 153 West 57th Street

    The Park Hyatt Hotel at One57 is scheduled to open for business on Aug. 28, when the five-star hotel will occupy the first 30 floors of the Extell Development condominium tower. [more]

  • Luxury towers along Central Park South

    Luxury towers along Central Park South

    WEEKENDEDITION Affordable housing advocates, activists fighting gentrification and politicians have all, at one point or another, wagged their fingers at super-rich foreign natives that snatch up luxury condos for staggering sums. But Toronto-native and West 57th Street-condo-buyer, Diane Francis, claims that it is precisely foreign buyers like herself that “are the solution, not the problem, to New York’s budget.”  [more]

  • From left:

    From left: Renderings of One57 tower, 432 Park Avenue, 107 West 57th Street and Gary Barnett

    Gary Barnett of Extell Development took something of a pummeling at yesterday’s panel of New Yorkers concerned about the shadows that rising skyscrapers will cast over Central Park. The verbal attacks were not overly surprising, considering Barnett was the sole defender of the construction of the towers. [more]

  • From left: 432 Park and One57

    From left: 432 Park and One57

    WEEKENDEDITION The “supertowers” designed to attract global billionaires that are currently rising above Central Park South are nothing to fear, according to the New York Post’s Steve Cuozzo. [more]

  • Gary Barnett's One57

    Gary Barnett’s One57

    Sponsor units at Extell Development’s trophy residential tower One57 have finally been listed on StreetEasy. Four units were listed for sale by the developer on Tuesday, asking between $18.85 million and $32.75 million, the listings website shows.

    The move by Extell to list the units publicly represents a turnaround in the marketing of the building. Since One57 launched sales in 2011, the developer has famously eschewed listing units on broker databases, such as the Real Estate Board of New York’s Residential Listing Service (RLS), On-Line Residential or sites like StreetEasy. [more]

  • The Rudin family’s Greenwich Lane, where prices for remaining units are roughly $3,100 a square foot

    The Rudin family’s Greenwich Lane, where prices for remaining units are roughly $3,100 a square foot

    From the February issue: A string of developers attempting to replicate the success of trophy residential towers like Extell Development’s One57 and Macklowe Properties’ 432 Park Avenue are placing increasingly ambitious price tags on their properties, sending buyers into a tailspin. [more]

  • The best of New York real estate

    January 18, 2014 09:00AM
    A rendering of One57

    A rendering of One57

    From Luxury Listings NYC: To kick off 2014, Luxury Listings deep-dived into the best of New York City real estate to come up with the tops in buildings, views (city and water views), fitness centers, residential gadgetry, architecture and much more. These are properties and perks that make New Yorkers—and potential New Yorkers—take notice of a real estate scene that’s doing pretty tops itself. [more]

  • one57-view-fbox

    The view from One57

    Extell Development reportedly typically forbids buyers from flipping contracts before closing and from trying to sell units until a year after purchase. But it seems that the developer has loosened the restrictions at One57.

    Last week, Tao Liu of Shanghai listed a one-bedroom condominium at the building, as The Real Deal first reported. He paid $3.56 million for the unit in April 2012, but listed it for $6 million, or about $5,700 per square foot. [more]


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