Archive for July, 2014

What $147 million buys (anywhere but the Hamptons)

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What better way to start the weekend than to consider what horrifying hedgie-of-the-moment, Fifteen Central Park West duplex owner Barry Rosenstein, could have bought with the $147 million he’s spending for his ostentatious new East Hampton estate–if he didn’t feel the need to live in a quiet, low-profile location like Further Lane in East Hampton. The latest Unreal Estate column in Avenue magazine, “Isn’t it Rich? thinks it would be rich–and smart–to look elsewhere, and get a castle or an island or a ranch, and a Gulfstream VI with the change.

There’s millions to be made up on the roof

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Two adjacent apartments at 15 Central Park West–boasting a massive combined terrace–went into contract for eight figures this week, reports Chris Pomorski of the New York Observer. Both units are owned by Fernando Chico Pardo, a Mexican businessman. And at an average sale price of $6,288 per square foot, apartments at 15CPW remain the city’s priciest, according to CityRealty (via Curbed). Take that, One57!

Clipped hedges?

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News today of the impending divorce of Chicago-based hedgies Ken and Anne Dias Griffin neglected to mention one irony of the situation: both the Griffins and Mrs. Griffin’s divorce lawyer, Robert Stephan Cohen, once rented condominiums at posh 15 Central Park West. Griffin looked to buy there, and eventually rented apartment 9B, despite the presence of his hedge fund enemy Daniel Loeb, in one of the building’s crowning penthouses. Cohen hated living there and soon moved away. Griffin’s unit is pictured.

“Rosenstein surely owes that broker big time”

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Barry Rosenstein, the pugnacious hedge fund operator who owns a 15 Central Park West duplex and recently bought America’s most expensive home, a $147 million East Hampton estate, is being sued (along with the estate that sold the estate) by Corcoran, the real estate brokerage, reports today’s New York Post. Corcoran alleges that Rosenstein and the estate conspired to avoid paying a commission on the sale to broker Tim Davis. Davis, the subject of my latest Unreal Estate column in Avenue, published earlier this month, was already the year’s highest-earning East End broker, with $430 million in sales last year. … Continue reading

Soviet-Union-born dentist offers 15CPW home for $55,000 a month

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Curbed reports that dental clinic owner Alexander Mikhailov, an original apartment owner at Fifteen Central Park West, has put his 34th floor unit (shown) up for rent. One of the building’s center apartments (described in House of Outrageous Fortune as a railroad flat for rich people), it is being brokered by realty firm Mercedes/Berk, whose principals are not only business and life partners, but also Fifteen residents, and Noel Berk holds a seat on the posh condo’s governing board, which likely won’t make the approval process for the $55,000-a-month rental easier, but certainly won’t hurt any applicants’ chances.

Duplex dude gets new Google gig

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Omid Kordestani, typically described as a senior advisor to one of Google’s founders, Larry Page now has a clearer title: head of advertising sales. ““There is nothing Omid doesn’t know about Google, our customers and partners,” Page said in making the announcement, which presumably means he knows what each of searches for. But turnabout is fair play and readers of House of Outrageous Fortune know where Kordestani lives in New York–in duplex penthouse 16C at 15 Central Park West (formally owned by an LLC called OK15NY). His terraces nestle against those of the musician known as Sting, and hedgie heavy … Continue reading

Ganek, Ganek, Gone…..

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Hedgie David Ganek bought the 740 Park duplex where Jacqueline Bouvier Kennedy grew up (in an apartment provided to her father “Black Jack” Bouvier by her grandfather, 740 developer James T. Lee) just before 740 Park was published. Now, having purchased a loft at Jared Kushner‘s renovated Puck Building just after Departures published my story featuring the lavish home, Ganek’s put his 740 unit on the market via Sothebys’ broker Serena Boardman, asking $44 million.

Eileen Ford and the Sexual Revolution

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Today’s New York Post features an article adapted from Model: The Ugly Business of Beautiful Women, on the life of the late Eileen Ford and the rise and fall of her legendary Ford Models agency.

More on Eileen Ford from Marketplace on NPR

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Eileen Ford, RIP

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I just learned that fashion modeling pioneer Eileen Ford, 92, died today. Her life story is fully told in Model: The Ugly Business of Beautiful Women, which can be ordered via links on this web site. UPDATE: Here are obits from the Los Angeles Times (which was so nice, they did the obit twice) and the New York Times.

Big deals at the beach

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In the July issue of Avenue on the Beach, just released, Unreal Estate looks at the last year’s biggest real estate deals and the East End’s biggest real estate broker, Tim Davis, whose $437 million in transactions last year make him King of the Hamptons Hill. Bad Bad Barry Rosenstein (pictured with his new Hamptons estate), the 15CPW hedgie who thinks privacy and record setting real estate deals on Further Lane are not mutually exclusive, makes a cameo appearance, too.