The Real Deal New York

At 520 Park, Zeckendorfs will test a softening luxury market

The brothers’ latest project is its most ambitious since its blockbuster 15 CPW, but this time there’s more competition — and risk
By Katherine Clarke | March 21, 2016 10:00AM

Arthur William Zeckendort 15 Central Park West 520 Park Avenue

From left: Arthur and William Zeckendorf, 15 Central Park West and 520 Park Avenue

From the March issue: To be a Zeckendorf, one of New York City’s most influential real estate families, is to be both inspired and haunted by the past.

William Zeckendorf Sr., or “Big Bill,” was a beefy mogul who famously assembled some 75 parcels of land on the East Side into a bundle that eventually became the United Nations. At one point, he owned both the Chrysler Building and the Graybar Building. But when the market stalled in the mid-1960s, his creditors called in their loans and his empire came crashing down. [more]