Something For The Haves

Something For The Haves- Luxury Manhattan Real Estate
Limestone Mansion at 11 east 82nd Street

Limestone Mansion at 11 east 82nd Street

Courtesy of Cityfile.
1. Hedge funder John Griffin and his wife Amy, who paid $32.25 million for a full-floor apartment at 1030 Fifth Avenue last year, are selling their old apartment in the same building. Renovations are complete and the couple has quietly put their 8th-floor apartment on the market with Serena Boardman for $16.5 million. [NYT]
2. The townhouse at 11 East 82nd Street that was purchased by Ron Perelman as a home for one of his executives back in 1996 and was later acquired by private investor Keith Gollust, has gone into contract after more than a year and a half on the market. The limestone mansion was most recently priced at $29.5 million. [Sotheby’s]
3. Tokyo-born filmmaker Keiko Ibi is sharing the risk at 15 CPW. Back in July, she put her one-bedroom condo on the market for $3.75 million. Now she’s partnered with her 7th floor neighbors, Young-oh and Byungwha Yoon, and they’ve listed their two apartments together for a combined $10.285 million. Corcoran’s Carrie Chiang has the listing. [Corcoran]

Biggest Price Drop of The Day

 

 

2 east 67th street living room

2 east 67th street living room

Something For The Haves.

2 east 67th street. A super meaty cut. From $15,000,000 down to $12,000,000 a whopping 20%.

Show Me The Numbers.
2 east 67th street
7 room Co-op designed by Rosario Candela
$12,000,000
$10,589 maintenance
2 Bedrooms
2 Bathrooms
12′ ceilings
1 Library
1 Pantry
1 Servant’s Hall
2 Staff Bedrooms

Celebrity Real Estate-Jennifer Esposito Lists Her Co-op

Something For The Haves.

Jennifer Esposito Lists

Jennifer Esposito Lists


Courtesy of Cityfile.
Jennifer Esposito is looking to sell in the Village. The actress has put her one-bedroom apartment at 23 East 10th Street on the market, along with the one-bedroom co-op she owns upstairs. The two apartments, which Esposito once planned to combine into a duplex, are currently listed for a combined $1.435 million.
Listed by Stephanie L. David of Mark David

Biggest Price Cut of The Day

Biggest Price Cut of The Day- Courtesy of OLR.

Something For The Haves.

17 west 64th street- The Penthouse-from $4,750,000 to $4,495,000 not a huge cut today with only a 5.5% drop of $255,000. This apartment has only been on the market for 4 weeks and is listed by Jill Sloane of Halstead Properties.

Show Me The Numbers.
17 West 64th Street- Co-operative.
$4,495,000
1400 Square Feet
$3120 maintenance
3 Bedroom
2 Bathroom
1 Wraparound Terrace
1 Wood Burning Fireplace

Biggest Price Cut of The Day

Something For The Haves.

And here it is, not a scalpel but a machete was used today to hack away at 655 Sixth Avenue-The O’Neil Building
#5B reducing the value from $5,995,000 to $5,000,000, a slice equal to 16.6%. Boy that’s a nice, slice.
Listed by John B. Gomes- Core Group Marketing

Can I get a drum roll please as we play…

Show Me The Numbers.

655 Sixth Avenue – A condominium
$5,000,000
1887 Erected
2989 Square Feet
3 Bedrooms
3.5 Bathrooms
1,491 Common Charges – not bad at all
3,141 Taxes – excuse me while I scream “What the *#!K?”
14 foot ceilings
36 x 28 Living Room

Celebrity and Alpha Human Real Estate Deals

Something For The Haves.
New York City’s Most Notable Real Estate Deals.
Courtesy of Cityfile.

Hampton's Home For Sale

Hampton's Home For Sale

Blackstone Group co-founder Steve Schwarzman and his wife Christine have put their East Hampton home on the market. The 2.1-acre property, which the couple purchased for $2.3 million in 1996, is listed for $7.2 million. The couple will hardly be homeless if and when they sell it. The Schwarzmans are finishing up construction work on the much larger estate in Water Mill they agreed to buy in 2005 for $34 million. [WSJ, BHS]
• Developer Bruce Ratner has sold his 4,500-square-foot home in Montauk to art dealer David Zwirner for $10 million. He’s reportedly looking for a “less pricey” estate in Quogue. [NYP]
• Actress Molly Shannon has sold her apartment at 66 Ninth Avenue for $2.61 million. The three-bedroom pad, which Shannon bought for $1.6 million in 2003, had been listed most recently for $2.85 million. [Real Deal]

Biggest Price Cut Of The Day

Something For The Haves.
A huge drop today at 166 east 61st street from $2,500,000 to $1,995,000. An axe was taken to this listing price with a $505,000 cut or 20.2% according to OLR.

Show Me The Numbers.

166 east 61st street
$1,995,000
1983 Co-Operative
$3909 maintenance -(ouch!)
3 Bedrooms
3 Bathrooms
2 Views looking East and South

Listed by Richard M. Silverman of Belmarc Realty

Celebrity & Alpha Human Buyers & Sellers

Something For The Haves.

Masterfully compiled by [Cityfile]

Alec Baldwin has put his longtime co-op in the Eldorado on Central Park West on the market for $8.9 million. He’s reportedly thinking about trading it in for a four-bedroom apartment at the Dakota, which has been reduced from $24 million to $12.5 million over the past year. [NYP]

• Former GE CEO Jack Welch is in contract to buy a three-bedroom pad at One Beacon Court that’s next door to the condo he already owns. The 2,669-square-foot space was most recently listed for $8.995 million. Listed by-Brown Harris Stevens]

• New York Times columnist Paul Krugman and his wife, Robin Wells, have paid $1.7 million for former Times reporter Joseph B. Treaster’s three-bedroom co-op at 110 Riverside Drive. Meanwhile, the couple is currently in contract to sell their former apartment, a one-bedroom at 304 West 89th Street that was most recently listed for $599,000. Listed by Corcoran]

• Fashion heir Antonio Versace has paid “a little less” than $2.7 million for a two-bedroom condo at 44 Mercer Street.

• Dr. Richard Kaul has dropped the price of his townhouse at 69 West 83rd Street, which he bought for $3.6 million in 2005 and put on the market for $14 million last month. The manse is now listed for $10 million. [Cityfile, PDE]

• Real estate investor Michael Hirtenstein is reportedly paying $16.5 million for five units on three floors of the Enrique Norten-designed One York. [NYP]

Biggest Price Cut Of The Day

I love The Real Deal, I truly do but they continue to report inaccurate information on a daily basis when it comes to the daily price cut. And again today is no different. They source Streeteasy for the biggest daily price cut but Streeteasy is 24 hours behind with the information it collects. There is a real time source that is flawless by nature as it is controlled by the brokerage community. When a listing changes the listing broker makes those changes within a database that is sent to all other databases accessible by any licensed brokerage house. That is the source that is used by nylsblog.com.

So, today’s biggest price cut is 55 Vestry Street #8C. The price cut is a whopping $2,045,000. A 22.7% price cut. The price dropped from $8,995,000 to the new price of $6,950,000. That is huge news.

Show Me The Numbers.

55 Vestry St. Condominium

$6,950,000

$3284 common charges

2644 Square Feet

3 bedrooms

3.5 bathrooms

22 foot ceilings

Biggest Price Drop Of The Day

While it’s true that The Real Deal reported a great price drop for 80 Riverside Boulevard it did not actually drop $1 million in one day. The price dropped yesterday $750,000 and today $250,000.

Today’s greatest price drop was 111 Jane Street. The Penthouse 4bed was cut by $505,000 and is now listed
for $5,995,000. That’s an 8% drop in one day.

Show Me The Numbers.

111 Jane Street
$5,995,000
3 Full floors
5256 Square Feet
4 Bedrooms
3.5 Bathrooms
6 Private terraces
3 Wood burning fireplaces

Listed by Joshua Judge of Sotheby’s International Realty

A Massive Price Drop Of $20million At A Trump Penthouse

SOMETHING FOR THE HAVES.

A listing that languished on the market for 54 weeks with an original price of $51million has jumped back into the marketplace shedding $20 million of the clearly inflated price tag.
Now that the duplex 6200SF four bedroom penthouse is only $31 million let’s see how long it is before the big sad face puppy eyes tempts someone into a purchase.
It was listed around the time of The Lehman fall, which makes a person wonder what a difference a year makes in our thinking.

502 Park Ave Penthouse

502 Park Ave Penthouse

The Apthorp Are Bringing Out The Big Guns-Hello Dolly

SOMETHING FOR THE HAVES.
Nick Hetherington

Uber-broker Dolly Lenz has been courted by The Apthorp development team and she has accepted to help them sell their supreme residences. How many does she need to sell to declare the condo plan effective by the September deadline? Only 8. This is exciting news to follow. She has the month of August and until the September 15 deadline date to sell 8 apartments to the wealthiest members of planet earth. Doesn’t sound to difficult for someone like Dolly who just rented Brangelina the Rupert Murdoch estate on The North Fork of Long Island for $100,000 a month. So, all she has to do is make a few calls right? I think she will do it. Whoever purchases will obviously be offered a sweet to the taste discount. Stay tuned to see which masters of the universe help save the day. Check The Real Deal article for more on this.

More Condo Buildings Are Converting To Rentals After Not Selling 15%.

SOMETHING FOR THE WANNA HAVES FROM THE HAVES.

Nick Hetherington
If you are a developer in today’s market and the original vision you had was to sell luxury condos at a high price psf but your sales office opened in 2008 or worse later, today you are being forced to restrategize.
There are several options open to you depending on the category for which your building falls under. So, which way do you go? Well, according to the Wall Street Journal [a pilot program, which aims to convert as many as 400 units, is designed to provide grants to real-estate developers and lenders to subsidize the completion of developments if the owners agree to turn the building into rental units for middle-income families. City officials said New York’s effort would target neighborhoods that are being hard hit by the condo construction bust, including Harlem in upper Manhattan and New York’s outer boroughs].

Ok, so some relief there for a few developers. What other options are there if you have a building outside these parameters? What if you’ve sold the requisite 15% of your inventory to be declared effective by the city? You could decide to create a rent to own program like 75 Wall street, Sutton Manor on East 53rd Street, 99 John Street, the Revere on East 54th Street and Morgan Court on Madison Avenue. In Brooklyn, the BridgeView Tower. Northside Piers and the Decora are among those with this option.
For more on this go to The NY Times article that appeared in December 2008.

For those of you that have been less than fortunate in moving your condo product, there is another option. Turn your building into a full rental property. This vehicle is reserved for projects that could not sell the requisite 15% that the city demands before they can declare the building effective as a condo property. The buildings that fall into this category so far are The Milan on west 23rd street and 6th avenue, The Remy on 6th Avenue and 27th street, rental prices here are quite moderate, so renters should take advantage while the developers are on the ropes. Others that may follow suit could include the high profile property with a great deal of celebrity traffic The Apthorp. The sponsors have until September 15th to make the grade. How much rentals would go for here is another question entirely.
But considering the drama that has surrounded The Apthorp, it will surely continue to make the real estate headlines.

Former Bear Stearns exec cuts townhouse price

SOMETHING FOR THE HAVES-

Former Bear Stearns exec cuts townhouse price

–As Per The Real Deal

 

Jeff Urwin, former co-head of investment banking at Bear Stearns and now JPMorgan’s head of investment banking coverage in the Americas, has cut the price of his Upper East Side townhouse to $26 million from $32.8 million. The listing, with Corcoran Group’s Carrie Chiang and Loy Carlos, says the mansion is in the low 80s between Fifth and Madison avenues. The five-floor townhouse has 640 square feet of outdoor space. The home first went on the market in mid-February, then went off the market, was re-listed in March, removed from the market in May and re-listed later that month, according to Streeteasy.com.

Does The Highline Allow Developers/Landlords To Command Higher Prices?

IMG_20090608_029SOMETHING FOR THE HAVES-
Nick Hetherington
According to Streeteasy there are 6 condo developments that have risen near The Highline. 1 of the 6 is The Caledonia which sold out in record time back in 2006/7 when, well, you know when we young and innocent. The median price of these properties is $1,350,000. The median price per square foot of these properties is $1,276. Compare that now to say The Chelsea Enclave who is commanding $1500 psf for it’s cheapest 1 bedroom unit and $3,114 psf for it’s most expensive unit and we could argue that news of the global meltdown didn’t reach West of 9th avenue. Just to note how are sales doing at this new development? Well, there are 7 in contract so far out of a possible 53 units since the sales office opened in January. Then there’s 456 west 19th street-which is composed of 22 duplex residences each with open floor plans and soaring double height living rooms to almost 20 feet. Prices range from $1400 psf – $2650 psf. Sales began here in November 2008. To date 1 sale has been recorded.
There are some sales at 350 west 23rd that don’t reach the stratosphere and you can pick up a space for under $1000 psf if you don’t mind living on the 1st or 2nd floor. Otherwise it’s back to $1300 psf. Sales here at this collection of 15 floor-through homes with fireplaces and private outdoor space are less than steady with only 2 contracts signed to date.
So, what does this all mean? Well, if you want to live close to The Highline, developers say ‘show me the money.’ People with this kind of money may be saying ‘We’re not convinced’. We’ll stay tuned to see how this all plays out.

Goldman Sachs-Robbed The Treasury. Will Their Profits Trickle Down?

SOMETHING FOR THE HAVES-THE DIRTY ROBBER BARON HAVES.
Nick Hetherington
I took this statement from the always super insightful and pithy Matt Taibbi-Taken altogether, what all of this means is that Goldman’s profit announcement is a giant “fuck you” to the rest of the country. It is a statement of supreme privilege, an announcement that it feels no shame in taking subsidies and funneling them directly into their pockets, and moreover feels no fear of any public response. It knows that it’s untouchable and it’s not going to change its behavior for anyone. And it doesn’t matter who knows it.

Yes, we should all we outraged and there are fingers to point at many of the culprits that steered Goldman to safety while millions have been shipwrecked, left jobless and homeless. For those guilty please stand up, Tim Geithner, Hank Paulson, Lloyd Blankfein and the list continues.
My only question is will the employees who will be receiving their big, fat bonuses spend it in a wise and love of The Country style manner? Maybe they will help prop up the local economy where they live and shop. Maybe they will purchase real estate in and around New York City giving us a positive 1st quarter in 2010. Let’s follow the money and hope that those of us who are at the bottom of the food chain with arms outstretched asking their government
for a handout will be seen by the fat cats who received billions and will stop to help a brother out.

An $8million Price Drop, A New $14million listing & A-Rod Striking Out

SOMETHING FOR THE HAVES-
Nick Hetherington

east 71st street townhouse

east 71st street townhouse


Investment banker Lewis van Amerongen has slashed the price of his five-story townhouse at 13 East 71st Street. First listed last September for $24.95 million, the 8,766-square-foot manse can now be yours for $16.95 million. [Cityfile]
• But that hasn’t stopped Dr. Richard Kaul, an anesthesiologist and spine specialist, putting his 7,200-square-foot townhouse at 69 West 83rd Street on the market for $14 million. Kaul bought the home for $3.6 million back in 2005. His broker must be selling him a pipe dream. Agreed, the townhouse has undergone an extreme makeover but let’s face the facts Doc, anyone in their right mind would not pay 4 times what you paid for it in the height of the market in 2005. This will be an interesting listing to follow. My prediction is you will see it drop to $9.75 million sometime in January 2010 if not before.[Nick Hetherington]
• Yankees slugger Alex Rodriguez hasn’t had much luck selling off his mansion in Coral Gables. He just dropped the price from $14.9 million to $9.9 million. But he’s also said he’d be happy to rent it for $25,000 a month. [Real Deal]

Townhouse Owned By Michael Targoff Sells With An $800K Drop

SOMETHING FOR THE HAVES-

211 east 61st Sells For $6million

211 east 61st Sells For $6million


Michael Targoff, the Loral Space & Communications CEO who paid $10.25 million for a penthouse at 778 Park Avenue last year, has finally sold off his old spread—a 3,800-square-foot townhouse at 211 East 61st Street (left). The four-story manse which was listed for $6.8 million sold for $6 million. [Cityfile][Streeteasy]

930 Fifth Avenue- A housewife Lists & A Hostess Drops The Price

Jill Zarin- Housewife

Jill Zarin- Housewife

SOMETHING FOR THE HAVES-

Jill Zarin from ‘Real Housewives of NYC’ lists her home for $3.2million. What do you get for that?
1956SF that’s what. Have a look at the interiors and if you likey you’ll probably also love 1970’s European porn.

[CityFile]Dorris Carr Bonfigli, the Upper East Side hostess and Bernie Madoff victim, has dropped the price of her penthouse apartment at 930 Fifth for the second time since listing it for $11.3 million last December. The elaborately-designed spread is now priced at $9.8 million. Nobody gets out of this mess untouched.