The Real Deal New York

Posts Tagged ‘William Zeckendorf’

  • meet-the-big-shots-who-live-at-15-central-park-west

    WEEKENDEDITION In 2004, when developers Will and Arthur Zeckendorf set out to create 15 Central Park West, one man stood in their way: a 73-year-old recluse named Herb Sukenik, who refused to move from the Mayflower Hotel. And his relocation may very well be the most expensive in New York history. [more]

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  • From left: Exterior of 18 Gramercy Park, rendering of a unit

    From left: Exterior of 18 Gramercy Park, rendering of a unit

    More high-end buyers in New York City are opting to live in buildings with fewer — but spacious — units, according to agents and developers. [more]

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  • fischbach

    135 East 79th Street and Gregory Fischbach

    Gregory Fischbach, founder of now-defunct video game publisher Acclaim Entertainment, grabbed a condominium unit at the Brodsky Organization’s 135 East 79th Street for $10.75 million. [more]

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  • This month in real estate history

    December 18, 2013 04:30PM
    Zeckendorf and others looking at a Dream City model

    Zeckendorf and others looking at a Dream City model

    From the December issue: A visionary plan advocated by the colorful William Zeckendorf Sr. to convert a large swath of downtown Flushing, Queens, into a modern $50 million shopping-and-theater complex was dashed 66 years ago this month.

    The city effectively killed Zeckendorf’s project, known as Dream City, by refusing to invoke eminent domain to help Zeckendorf get his hands on the property he needed to move forward. [more]

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  • From left: William Zeckendorf and 50 United Nations Plaza

    From left: William Zeckendorf and 50 United Nations Plaza

    Zeckendorf Development and Global Holdings launched sales of the luxury 50 United Nations Plaza condominiums today, located directly across from U.N. headquarters.

    The 88-unit property offers apartments ranging from 1,147-square-foot one-bedrooms to a triplex penthouse measuring 15,597 square feet, priced at $100 million. [more]

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  • From left to right - William Zeckendorf, co-chairman at Zeckendorf Development; Gerald Bianco, Lend Lease; Ralph Esposito, Lend Lease; Arthur Zeckendorf, Co-Chairman, Zeckendorf Development on the 34th floor of 50 United Nations Plaza

    From left: William Zeckendorf, co-chairman at Zeckendorf Development; Gerald Bianco, Lend Lease; Ralph Esposito, Lend Lease; Arthur Zeckendorf, Co-Chairman, Zeckendorf Development on the 34th floor of 50 United Nations Plaza

    Just seven months after the Zeckendorfs broke ground on the long-stalled 50 United Nations Plaza condominiums, the developers have topped out the highly anticipated project. Workers are set to lay the last concrete slab for the highest penthouse at the 44-story tower tomorrow, executives told an audience of brokers, construction workers and reporters assembled at a ceremony on the 34th floor this morning. [more]

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  • Eyal Ofer

    An Israeli billionaire who resides in Monaco is the under-the-radar majority investor in several of Manhattan’s high-profile residential developments, including the Zeckendorfs’ 50 United Nations Plaza and Rudin Management’s condominium conversion of St. Vincent’s hospital.

    Eyal Ofer, a 62-year-old whose net worth, according to Forbes, is $6 billion, has managed to operate in stealth as he normally invests in no-name office buildings, the Wall Street Journal reported. But recent projects “we have got involved with have brought us into the limelight,” he told the Journal. [more]

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  • From left: William and Arthur Zeckendorf (credit: Marc Becker) and Christ Church

    Developers William and Arthur Zeckendorf will pay a record $600 per square foot this week  for air rights above their planned 60th street luxury tower, the New York Times reported. The total dollar amount: $40 million for roughly 70,000 square feet. [more]

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  • What I did for the gig: Robert Shapiro

    February 13, 2013 01:00PM

    Inset: Robert Shapiro

    “What I did for the gig” is a weekly web feature that chronicles the outlandish, risky and comical strategies that residential and commercial real estate brokers have used to land listings, clients and jobs.

    Negotiating for space in Midtown Manhattan is a tough business, especially when faced with an uninterested seller and a looming deadline. For Robert Shapiro, a broker who orchestrated a 1986 REBNY award-winning assemblage deal for the Crowne Plaza Times Square, the challenge called for a stunt that would let him rise to the occasion. Literally. … [more]

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  • Is 15 CPW’s heyday over?

    December 07, 2012 09:30AM

    15 Central Park West (far left)

    Despite the stratospheric sales prices at 15 Central Park West over the last few years — the most obvious being Sandy Weill’s $88 million record-obliterating sale — some observers say that the previous numbers were inflated and that sales prices at the building are due to slump, the Wall Street Journal reported.

    In 2012 only five apartments at the building, where celebrities of all sorts, from Denzel Washington to Daniel Loeb reside, have sold. Last year, that number was 17 last year and 15 in 2010, according to data from residential brokerage Brown Harris Stevens. [more]

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  • A lark in the Park: PHOTOS

    October 25, 2012 03:30PM
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    From left: William and Arthur Zeckendorf (credit: Marc Becker)

    Developers William and Arthur Zeckendorf welcomed brokers to 18 Gramercy Park last night for the official unveiling of their 16-unit luxury condominium conversion overlooking the fabled garden.

    With about half of the 16 units under contract – including the $42 million penthouse reportedly promised to Leslie Alexander, owner of the NBA’s Houston Rockets – William Zeckendorf said he expected to sell the remaining apartments at a pace of about one per month. … [more]

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  • Top NYC residential sales of 2011

    January 20, 2012 02:30PM

    Forget about new brokerage models, new markets and new economic realities. When it came to the top of the New York City residential sales market in 2011 consistency was king. (See the top 5 above and the top 10 sales after the jump.)

    The effects of the European debt crisis crept across the Atlantic Ocean this summer, and hindered the traditional high season for sales — but not for the ultra-rich: 11 of the 25 Manhattan sales worth more than $20 million closed in June, July and August. In fact, July 15, the very same day eight European banks failed their stress tests, the ninth and 17th priciest sales of the year closed for a combined $49.75 million. … [more]

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  • Zeckendorf buying 740 Park pad for $27M

    November 03, 2011 11:22AM

    William Zeckendorf, co-developer of 15 Central Park West and a co-owner of Terra Holdings, parent company of Halstead Property and Brown Harris Stevens, has gone into contract to buy a two-bedroom, 17th-floor apartment at 740 Park Avenue, a building once owned by his grandfather, for $27 million, the New York Post reported.

    The 10-room apartment is owned by video game magnate Gregory Fischbach and his wife Linda, who bought the apartment in 1994 for $6.3 million. It was once owned by John D. Rockefeller, who planned to join the unit with his duplex below but never did.

    Zeckendorf has been busy maneuvering his personal real estate assets of late. … [more]

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  • alternate<br /></a>text
    William Zeckendorf and 927 Fifth Avenue

    William Lie Zeckendorf could probably teach his legion of real estate brokers a thing or two about doing a deal. According to the New York Observer, the co-owner of Terra Holdings, parent company of Halstead Property and Brown Harris Stevens, flipped the top half of a 927 Fifth Avenue duplex for as much as $5 million profit in a matter of six months.

    Sources told the Observer that the five-bedroom spread sold for “well over” its $31.5 million asking price, and may have even brought in more than $34 million. Zeckendorf paid $29.1 million for the portion of Bruce Wasserstein’s old duplex in a one-day auction in December. BHS’ John Burger brokered the deal but wasn’t available for comment. … [more]

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  • Another day, another stunning 15 Central Park West resale attempt.

    On the 37th floor of the Zeckendorf brothers’ limestone masterpiece, the owners of a 2,761-square-foot, three-bedroom spread are angling for a roughly $13 million profit on their original purchase price.

    The $23.95 million asking price for the unit, which belongs to William Lawrence, founder of Meridian Capital Partners, and his wife, Gloria, and which popped up on the resale market yesterday, places it squarely in the building’s top tier, though it is hardly setting records.

    But nonetheless, a 124 percent markup (the Lawrences’ paid just under $10.7 million for the apartment in 2008) is nothing to sneeze at, and is one of the most ambitious resale attempts in the past year at one of the city’s most celebrated condominiums. … [more]

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  • alternate text
    From left: William Zeckendorf, Bruce Wasserstein and 927 Fifth Avenue

    Developer William Zeckendorf paid $29.1 million for the duplex cooperative unit at 927 Fifth Avenue, once owned by the late investment banking executive Bruce Wasserstein.

    Zeckendorf and his wife Laura Weiser closed Dec. 22 on the purchase of the 11th floor unit from the Wasserstein estate, according to city records published today. The sale price was originally reported in November to be about $27 million. TRD[more]

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  • For New York City real estate, 2010 in many ways marked a return to normalcy after the tumultuous aftermath of the financial crisis. As the ubiquitous real estate appraiser and Miller Samuel CEO Jonathan Miller put it: “it was a year of a sense of relief.” City home prices stopped their freefall and sales activity improved considerably from the post-Lehman doldrums. Stalled condominium projects like the Sheffield and 1 Rector Park re-started sales. Mexican billionaire Carlos Slim bought Tamir Sapir’s Fifth Avenue townhouse, the Duke Semans mansion, for $44 million. As the unspoken taboo on ostentatious spending faded, a number of high-end residential properties changed hands at the end of the year, including Brooke Astor’s 14-room duplex at 778 Park Avenue, which finally sold after two years on the market (albeit for a significant discount from its original asking price). Japanese retailer Uniqlo snagged 89,000 square feet at 666 Fifth Avenue’s former Brooks Brothers space for a record $300 million, demonstrating that retail is still thriving along the posh shopping corridor.
    But the economic downturn continued to make its presence felt. The office market remained uneven and troubled lender iStar Financial fought to stave off bankruptcy amid lingering fears of a double-dip recession.
    Here are The Real Deal staff’s picks for the stories that most altered the New York City real estate landscape in 2010, in alphabetical order. … [more]

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  • BHS’ Mary Rutherfurd, Bruce Wasserstein and 927 Fifth Avenue

    William Zeckendorf, who was revealed yesterday to be on his way to a city record after finding a buyer who agreed to pay $40 million for his 15 Central Park West penthouse, has made a noteworthy offer of his own across town. According to the Post, the developer has put in a bid for around $27 million on the 927 Fifth Avenue co-op owned by late investment banking honcho Bruce Wasserstein, and the sellers have accepted. The 11th-floor duplex just hit the market Oct. 29 for $26 million, and was such a hot commodity that brokers were given only until the end of Halloween weekend to come up with sealed bids from their buyers. Sources said Zeckendorf’s winning bid was not the highest, but the Post noted that the developer co-owns Brown Harris Stevens, whose Mary Rutherford was the listing broker. [Post]

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  • 15 Central Park West

    William Zeckendorf’s own 15 Central Park West penthouse is in contract for $40 million, or a record $10,259 a foot, according to the Post. That’s a per-square-foot residential real estate record for the city, the paper said, besting the $10,151 per square foot that Kazakhstani Bolat Nazarbaev — brother of the country’s president — paid for his apartment at the Plaza in 2008. The 41st-floor condo has three-bedrooms, three-and-a-half bathrooms and a litany of famous neighbors including Sting, Alex Rodriguez and Kelsey Grammer. Zeckendorf, who lives in the apartment, paid his development company $10.7 million for it during the building’s pre-construction stage in 2005. [Post]

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  • Developer Kent Swig was denied a motion to reargue or stay enforcement of a $32 million judgment by Square Mile Structured Debt yesterday. New York State Supreme Court Judge Bernard Fried ruled that Swig failed to prove any legal errors that would allow him to reopen or delay the case. The judgment was issued against Swig after he defaulted on a $28 million personal loan from Square Mile that was used to help develop the troubled Sheffield57 condominium near Columbus Circle. Fried denied the motion despite allegations that Swig was denied access to critical documents and that Square Mile misrepresented key facts to Swig. Fried ruled that the only way to issue a stay would be if the court “overlooked or misapprehended the facts or the law.” The ruling will likely provide further hardship for Swig and his considerable number of real estate assets, which include Swig Equities, the real estate development firm, Helmsley-Spear, the commercial real estate firm previously owned by Harry Helmsley and Terra Holdings (where he is co-chairman and co-owner), the parent company of Brown Harris Stevens and Halstead Property. … [more]

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