Not the best rendering of the tower, but shown together with the Hudson Yards...
http://nymag.com/homedesign/urbanliv.../hudson-yards/
http://nymag.com/homedesign/urbanliving/2012/one-57/
This Is What $90 Million Looks Like
Some nice views. A large floor plan in the most conspicuously coveted new luxury tower in town. And most important: a place to park your cash.
The 360-degree view from the penthouse apartment.
(Photo: Jeff Chien-Hsing Liao)
By Matthew Shaer
Oct 7, 2012
Quote:
When the building is completed sometime next year, it will stand 1,005 feet tall. That’s taller than the GE Building, taller than the Trump World Tower, and 41 feet shorter than the Chrysler Building. From the penthouse at One57, on the 90th floor, you can see past the verdant rectangle of Central Park, over the knobby sprawl of upper Manhattan, and all the way into Harlem and the Bronx, which recede, on clear summer days, into a fine blue mist. It is the ultimate “fuck you” perk, for the buyer with the ultimate mound of “fuck you” cash—a view that no one else will have, a view designed to reassure a man that he is in fact a lord among serfs, a new king of New York, encased safely in the parapet of his castle.
Because let’s be clear: Although Extell is happy to open the doors of One57 to old Manhattan money—in fact, three residents of 15 CPW are reportedly interested in jumping ship for One57—the building is not really for New Yorkers. It has been built for the fresh-faced global elite and their riptide of foreign money, which swirls every month out of Europe, the Middle East, and Asia and straight into New York City. And foreign buyers don’t want old. They don’t want lived-in. They want new. They want glass. They want steel. Or, as someone involved with the construction of One57 puts it, “Flash matters far more than tradition.”
Extell will sell only 92 residential units in One57 (the first 30 floors will be occupied by a Park Hyatt hotel). This is a very small number. The floor-through units in the top eleven floors start at approximately $50 million; a duplex on the 75th and 76th floor, dubbed “the Winter Garden,” was listed for $115 million. (It went this summer for an undisclosed sum.) These are very big numbers. The contrast has not escaped the marketing team at Extell nor the brokers involved with flogging the units. Pamela Liebman, the president and CEO of the Corcoran Group, which is consulting with Extell on One57, says the tower is the real-estate equivalent of Augusta, the famously exclusive golf club. “You don’t talk about who’s a member,” she says. “You don’t ask who’s a member. But if you can pay the price, you can be a part of the club.”
....According to one prominent broker, only a minority of buyers will use the building as a permanent residence. “Everyone else—this is one for their portfolio,” the broker explains. “It’ll be a really great one for a while, I’m sure. These are the kind of billionaires that own in Hong Kong and London and some place in St. Barts. They’re collecting homes as they collect art.”
Catch that? It was subtle. So let us offer our own humble translation: All these aforementioned global elites, who have agreed to fork over near-unfathomable sums of cash for apartments in One57—many of these people are not actually going to live in the building. Sure, they’ll swing by occasionally, long enough to enjoy the view, but for the most part, their apartments will be an investment, a collectible item, a safe-deposit box.
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A little more info...
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Lend Lease expects to have the building fully enclosed by February, at which point work on the interiors can commence in earnest. “That’s not soon enough but very soon,” Grecco says. “The hardship we’re going to endure is working through the winter at 1,000 feet.”
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Last edited by NYguy; Oct 8, 2012 at 2:57 PM.
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Bergdorf Goodman on the right (5th @ 57th) is one of my fav destinations!
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