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  #41  
Old Posted Nov 22, 2005, 1:20 PM
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NY POST

$45M APARTMENT

By BRADEN KEIL
November 22, 2005


A brash hedge-fund manager is putting his money where his mouth is — agreeing to pay a record $45 million for a Manhattan residence.

Daniel Loeb, the outspoken founder of New York-based Third Point LLC, has signed a contract to buy a more than 10,000-square-foot penthouse condominium under construction at 15 Central Park West at the site of the old Mayflower Hotel.

The hard-charging investment mogul, who manages a $3.6 billion fund, is known for his publicly circulated poison-pen letters to executives he claims are pretentious or lazy. The New Yorker magazine described him as an investor's version of the late political columnist H. L. Mencken, but added that his manner could be "self-interest disguised as moralistic bombast."

Loeb had no comment about his purchase.

Plans for the 10,700-square-foot, full-floor pad include eight bedrooms, 10 full bathrooms, two powder rooms, a large screening room, his-and-hers offices, a library and terraces measuring nearly 800 square feet. The 39th-floor apartment features 14-foot ceilings. It is to be completed by spring 2007.

The towering sales figure beats the previous record held by News Corp. Chairman and CEO Rupert Murdoch, who paid $44 million earlier this year for the late Laurance Rockefeller's triplex co-op penthouse on Fifth Avenue. News Corp. owns The Post.

It also bests the previous record condo price of $42.25 million that Mexican financier David Martinez paid at the nearby Time Warner Center. Martinez combined a full-floor apartment on the 76th floor with a half-floor residence above. He then recently purchased the other half of the 77th floor for about $12 million, giving him almost 17,000 square feet total after spending nearly $53 million.

Loeb's purchase comes seven months after he bought a sprawling eight-bedroom West Village town house for $11.2 million.

The 15 Central Park West complex — designed by renowned architect Robert A.M. Stern and developed by brothers Arthur and William Lie Zeckendorf — will comprise two structures between Broadway and Central Park West (from 61st to 62nd streets).

A drive-in courtyard will separate the 20-story building and a 43-story tower, both with pricey Indiana limestone facades. There are 200 residences ranging in price from $1.97 million for a one-bedroom place to Loeb's $45 million palace. Also featured in the complex are retail stores, a private 13,500-square-foot gym and spa, a private restaurant, wine cellars and staff quarters.

According to a release by Zeckendorf Development, the building is about 40 percent sold, with 12 of the 16 penthouses already spoken for.
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  #42  
Old Posted Nov 22, 2005, 6:34 PM
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Wow and the record for the most expensive place in NYC just keeps going up.
     
     
  #43  
Old Posted Nov 22, 2005, 6:43 PM
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Oh I found this cool shot...



From...

Curbed.com
     
     
  #44  
Old Posted Nov 22, 2005, 7:20 PM
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Oh, I heard about THAT website. It gives out bogus info.
     
     
  #45  
Old Posted Nov 22, 2005, 7:41 PM
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There is a building on the upper east side along Central Park (5th Ave) that this building is an exact replica of, only taller. The top is exactly the same. I've always liked the old EUS building because I thought it looked like it could have been designed by Dr. Seuss. I looked for a photo to post, but I couldn't find one. Does anyone know the building I'm talking about? It's along 5th Avenue in the 70's.
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  #46  
Old Posted Jan 17, 2006, 7:37 AM
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  #47  
Old Posted Jan 17, 2006, 7:41 AM
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A billion dollar baby





By Braden Keil
January 14, 2006

IT’S hard to believe that Manhattan’s residential real-estate market is slowing down, with sales at 15 CPW just surpassing the billion-dollar mark.

“We’ve sold just over 100 apartments [out of 202] for just over $1 billion,” said Arthur Zeckendorf, the co-chairman of Terra Holdings, which is developing the Robert A.M. Stern-designed building at 15 Central Park West. “Fourteen of those apartments were over $20 million.”

Zeckendorf and his brother William Lie Zeckendorf, another co-chair at Terra, say they’re looking forward to selling another billion’s worth with the remaining residences, which would be a record for a single condo building.

Helping that sales figure along was the $45 million apartment sale to hedge-fund heavy Daniel Loeb.

Construction is on target, now up to the eighth floor on the first tower, and the limestone used on the complex’s facade should be arriving next month.

Among the units that are still available is a $43 million apartment on the 20th floor. The price has just been raised to $45 million.


Copyright 2004 NYP Holdings, Inc.
     
     
  #48  
Old Posted Jan 17, 2006, 11:07 AM
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Quote:
Originally Posted by Braden Keil
Zeckendorf and his brother William Lie Zeckendorf, another co-chair at Terra, say they’re looking forward to selling another billion’s worth with the remaining residences
Noo! you don't say!
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  #49  
Old Posted Jan 17, 2006, 2:26 PM
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How much will it cost to build 15 CPW, including the purchase of the property and demolition of the prior buildings?
     
     
  #50  
Old Posted Jan 17, 2006, 2:39 PM
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Quote:
Originally Posted by jularc

I like the Broadway side much better than the 8th...
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  #51  
Old Posted Feb 6, 2006, 5:16 PM
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FEBRUARY 5, 2006


A New York classic rises...


_


_











Bonus shot: I've always loved this nearby entrance to Central Park...

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  #52  
Old Posted Feb 6, 2006, 5:46 PM
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Wow, I didn't realize this one was so far along.
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  #53  
Old Posted Feb 6, 2006, 7:40 PM
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Wow. This thing's flying. When I was there in late August, they were still digging the hole.
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  #54  
Old Posted Feb 6, 2006, 10:11 PM
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this thing is kickass. when this thing is completed i bet itll fool alot of people when they find out it was just built.
     
     
  #55  
Old Posted Feb 7, 2006, 12:05 AM
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Quote:
Originally Posted by Spooky873
when this thing is completed i bet itll fool alot of people when they find out it was just built.

Yeah, it was designed to fit in with those CPW buildings. What's visible now is the higher of the two towers...

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  #56  
Old Posted Feb 7, 2006, 1:39 AM
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they need to build more like that.
     
     
  #57  
Old Posted Feb 22, 2006, 12:09 AM
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ny observer





While Harvey Weinstein's old pad might be a fun place to watch movies, 15
Central Park West's new screening room--designed by Theo Kalomirakis--
could be even better.

The glamorous screening room will accommodate 20 people and will be
located on the fifth floor of the new luxury tower. It will also feature plush
velvet, extra wide seating in a neo-classical environment with clean lines and modern details.
The 11 foot by 7 foot screen is in state-of-the-art high
definition, according to the press release.

After reportedly spending $45 million on his penthouse apartment;
hopefully, hedge funder Daniel Loeb will get to reserve it for the Super Bowl.

-Michael Calderone
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  #58  
Old Posted Feb 22, 2006, 12:24 AM
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xiaaaannngg.
     
     
  #59  
Old Posted Feb 25, 2006, 12:38 PM
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Look who made the cover of this weekend's NY Post real estate section:





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  #60  
Old Posted Feb 25, 2006, 12:46 PM
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Here's the Post article:

COLUMBUS NEW WORLD



A 15 CPW unit that went for less than $1,700 per square foot in September is now worth more than $2,000 per square foot.



By JENNIFER GOULD KEIL
February 25, 2006

New buildings turn up the heat around Time Warner Center

One of Manhattan's hottest neighborhoods is in such a state of flux that it doesn't even have a name yet. Perhaps it will become TiWa. For now, call it the Time Warner Center area or Columbus Circle. Or even Midtown West. Whatever you call it, it seems like it's where everyone wants to be.
The Time Warner Center at Columbus Circle is the area's anchor. The transportation hub is its heart - from the A, B, C, D, 1 and 9 trains at 59th Street and Columbus Circle to the N, R, Q and W trains at 57th Street and Seventh Avenue to the F train at 57th Street and Sixth Avenue. Central Park is its soul.

The neighborhood, which can be defined from 54th Street to 63rd Street from Broadway to West End Avenue, began to come into its own with the 2000 opening of the Hudson Hotel on West 58th Street. But the opening of the Time Warner Center and the Mandarin Oriental Hotel in 2004 is what really redefined the area.

The Time Warner Center brought with it some of the finest restaurants the city has ever had: Per Se, Masa and Caf‚ Gray, all competing with the already stellar Jean-Georges restaurant across the street in the Trump International Hotel & Tower.

Next came the celebrities: P. Diddy and Yankees pitcher Randy Johnson found places at the Park Imperial at 230 W. 56th St., while Jay-Z and Ricky Martin crashed at the Time Warner Center - where one apartment sold for the record-breaking price of $42.2 million.

Now the neighborhood is in the midst of a second wave of development, with residential buildings including 15 Central Park West, Element, at 555 W. 59th St., and The Hudson across the street at 225 W. 60th St.

The Hudson is a prime example of the how the area is changing. It's one of a handful of new buildings - details are still being worked out for three others - planned on a formerly desolate block that was once home to a taxi-repair shop and part of an elementary school. The block, says Halstead Property broker Jill Sloane, who has sold two units at The Hudson, "will become its own neighborhood. This building is the first on the block. Three other large buildings are targeted for the block."


The Hudson, built of steel and glass, will have about 80 units, including 800-square-foot one bedrooms for $815,000 and 1,000-square-foot two-bedrooms for $1.1 million. Perks include floor-to-ceiling windows, a gym and a rooftop terrace and outdoor bar.

Prices in the Time Warner area are high and continue to climb.

Prudential Douglas Elliman super broker Dolly Lenz, who bought her own four-bedroom apartment at the Park Imperial last year for $4 million, says she has already been offered $6 million for it. Lenz said she bought in the building because she "felt the excitement, the heat of the location. It was an emerging area that was really going to explode."

Halstead Property broker Dorothy Somekh has also seen her investment grow.

Somekh paid $2.5 million for a two-bedroom at 15 Central Park West - which is still under construction and will be completed next year - and similar units there are now selling for $3.025 million.

"It could be the deal of the century," she says, especially considering that condos at the nearby Plaza hotel are selling for "$3,000 to $5,000 per square foot, depending on the view."

Halstead Property's Eric Janssen recently sold lawyer Hector Torres an $8.7 million, four-bedroom apartment in 15 Central Park West. Torres, who currently lives in Sands Point, Long Island, is looking forward to moving back to the city with his wife and four children.

"Suburban life was too homogenized," Torres says. "I love that this is a new building adhering to the traditional architectural format of Central Park West."


Once he moves in, Torres says he will love being able to walk to work in Midtown, stroll to the park with his kids, and dine with his wife at restaurants like Per Se, Jean-Georges, Shun Lee and Picholine.

Brothers Arthur and William Zeckendorf and Whitehall Street Real Estate Funds are developing the massive two-wing, 200-unit condo building Torres will be calling home. The project takes up a city block from 61st Street to 62nd Street, bounded by Central Park West and Broadway.

The brothers want 15 Central Park West, with its limestone fa‡ade, to fit in with "New York's prewar architectural splendor" while adding a 21st-century high-tech sensibility.

Amenities include a 20-person screening room designed by Theo Kalomirakis, wine cellars (see story on 42) and storage bins. (Halstead's Somekh purchased a 60-square-foot bin for $35,000.) The building will also offer a library, two restaurants and continental breakfasts for residents.

Those who have been in the neighborhood a long time have, of course, seen their investment grow along with the 'hood.

One couple who live on West 57th Street recently combined a three-bedroom apartment they bought 13 years ago for about $400,000 with a one-bedroom they bought two years ago for $480,000. Even after a $500,000 renovation, they believe their apartment has more than doubled in value.

Certainly, new construction is adding to the allure of the area.

Consider Element, located between West End and Amsterdam avenues, in an area that Shlomo Reuveni, senior vice president of Corcoran Group Marketing, is selling as Columbus Circle West.

The 35-story glass-tower building has 198 units, including five townhouse residences, and is more than 50 percent sold.

Prices at Element go from about $815,000 for a 791-square-foot one-bedroom to $2.7 million for a 1,476-square-foot penthouse.

Amenities include cold storage for fresh-food deliveries, a wine valet service with Morrell & Co. and a three-lane, 60-foot indoor lap pool with a whirlpool and a children's pool.

There will also be an indoor half-court basketball area, a racquetball court, a children's playroom created by FAO Schwarz, children's gym classes provided by Jodi's Gym - which holds classes and parties for posh tots around the city - and landscaped outdoor space, including a "great lawn," a meditation garden with yoga classes and an outdoor lounge.

"The neighborhood," Reuveni says, "has really arrived."

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