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New Penthouses

Started by spinnaker1
almost 17 years ago
Posts: 1670
Member since: Jan 2008
Discussion about
It's possibly a sign of the times that from my vantage point I can see at least 3 new penthouse projects underway, some atop some fairly prestigious UWS addresses: 255 W 90th (The Cornwall) 610 WEA (hard to tell if this is a reno, addition or new build) 215 W 88th St Penthouse aficionados might want to keep an eye on these.
Response by ph41
almost 17 years ago
Posts: 3390
Member since: Feb 2008

Are these new "rooftop additions"?

It is sort of surprising that buildings are taking this leap at this point in the market - at least I am assuming that the buildings' have either sold the space to a buyer to be developed, or, are developing the space themselves (hell of a risk)

Question also - great views of building's bulkheads, water towers, and probably heat and a/c issues? Roof drainage issues (cause there will be a new terrace on those roofs).

Interesting to see what develops.

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Response by nyc10023
almost 17 years ago
Posts: 7614
Member since: Nov 2008

1) 255W90th advertised roof space for sale along with building rights a few years ago.
2) No idea
3) Merrion new condo conversion.

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Response by ph41
almost 17 years ago
Posts: 3390
Member since: Feb 2008

255 W. 90 started out asking $4,800,000,in 2006, reduced it to about $3,700,000 then back to $4,800,000 before taking it off the market - advertised as just over 1,500 SF. Maybe someone actually fell for it?

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Response by alanhart
almost 17 years ago
Posts: 12397
Member since: Feb 2007

Okeh, so what's the contract price on this one?
http://www.streeteasy.com/nyc/sale/381184-condo-500-west-end-avenue-upper-west-side-new-york

Idle gossip accepted.

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Response by spinnaker1
almost 17 years ago
Posts: 1670
Member since: Jan 2008

I was looking at it as more of an attempt to raise capital to offset increasing costs of taxes and maintenance. It does appear 255 w 90th has been in the works for a while now. While the Cornwall does have one of the most distinctive parapet walls, you better like it because that will be your view.

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Response by ph41
almost 17 years ago
Posts: 3390
Member since: Feb 2008

I think someone is going to pay at least $9.6-9.7-MM, possibly more. Looks spectacular (okay, one minor quibble, would be nice if library were adjacent to living room, and dining room)

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Response by lizyank
almost 17 years ago
Posts: 907
Member since: Oct 2006

I always checkle when I see listings like this that say "pets allowed". You want me to pay nearly $10MM and you will tell me if its okay to bring my kitty cats??? Aside from that, this may be my dream apartment...don't totally love the UWS but I have friends there and it is convenient (and this is just three blocks from a train station)..I love the big bedroom and bathroom but it also has living space (would make the library a den/media room but then I could use a spare bedroom as an office). The building is nice but doesn't seem to have a "best building" stick up you know where air about it. Then there is the swimming pool--I guess you don't have to worry about how you look in a suit when no else can see you. And yes, it is pet friendly. But alas, I don't have $10MM or anything close and I'm happy here in Gramercy so I guess I will just "dream on".

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Response by modern
almost 17 years ago
Posts: 887
Member since: Sep 2007

New 6,000sf penthouse listing with interesting price history, in the old Chelsea YMCA.

http://www.streeteasy.com/nyc/sale/472673-condo-213-west-23rd-street-chelsea-new-york

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Response by ph41
almost 17 years ago
Posts: 3390
Member since: Feb 2008

Has Bernie's penthouse sold yet?

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Response by falcogold1
almost 17 years ago
Posts: 4159
Member since: Sep 2008

alan,
my wet dream apartment went to contract...boohoo
love that place...keep thinking how funny it would be if someone got locked in the glass swim room for a few days...

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Response by alanhart
almost 17 years ago
Posts: 12397
Member since: Feb 2007

Liz, you don't need $10MM -- just get a no-doc loan.

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Response by alanhart
almost 17 years ago
Posts: 12397
Member since: Feb 2007

modern, that one's phenomenal ... I'd never leave.

Can you tell me the recorded sale price, please?

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Response by alanhart
almost 17 years ago
Posts: 12397
Member since: Feb 2007

bump for sale price ... ?

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Response by NWT
almost 17 years ago
Posts: 6643
Member since: Sep 2008

$7.5M in June 2007.

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Response by modern
almost 17 years ago
Posts: 887
Member since: Sep 2007

06/14/2007 Previous Sale recorded for $7,500,000.

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Response by modern
almost 17 years ago
Posts: 887
Member since: Sep 2007

alan, I wasn't ignoring your question, never saw it until now. SE didn't bump up the thread.

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Response by alanhart
almost 17 years ago
Posts: 12397
Member since: Feb 2007

Thanks, NWT and modern! Not sure, but I think it did bump, but sank down later in the night.

So what would we say is the current value? Maybe $7mm would be it if the SE 2004-5 guesstimate holds. I could be persuaded that it's worth a lot more, but only because my eyes are bigger than my mouth regarding excessive amounts of outdoor spaces on both levels, plus rooftop aeries.

The other apartment on offer now sounds like a reasonable ask (as these things go) at less than $1K/sf. Both have tax + CC that are beyond my ability to comprehend, so I don't know if they're outrageous or not. But what's $60,000+ annual tax if you have lots of outdoor space, right?

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