Archive for March, 2015

740 Park loses record, gains footnote

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Curbed reports that Len Blavatnik, who left the Soviet Union in 1978 but still profited from its collapse via a partnership with Russian oligarch Vikor Vekselberg, has set a new New York co-op sales record with his $77.5 million purchase of New York Jets Woody Johnson‘s 14 room duplex at 834 Fifth Avenue. The previous record holder was 740 Park, where hedgie Israel “Izzy” Englander bought a second apartment in September for $71.3 million. 740, of course, had held that record previously, thanks to private equity poobah Steve Schwarzman‘s 1999 $29.9 million purchase of what had been Saul Steinberg’s duplex … Continue reading

Russian TV rushes 15CPW

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I’m on RT’s Boom Bu$t with Erin Ade today discussing Fifteen Central Park West, House of Outrageous Fortune, and who owns the outrageous eight- and nine-figuring condominiums popping up along the Billionaire’s Belt of 57th Street in Manhattan. The whole show is embedded above. To cut straight to the 15CPW segment click here.

740 Park Party Pad For Sale

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Peter Huang, an investor whose ex-wife tossed wild Studio 54-era parties in his duplex apartment at 740 Park Avenue, has re-listed the place after it failed to sell 2011, reports the Wall Street Journal’s Candace Taylor. Then, it was listed for $29.5 million. Now, it can be had for $2 million less through broker Kyle Blackmon, the 15 Central Park West resident who sold Sandy Weill‘s penthouse at 15CPW to Russian oligarch Dmitry Rybolovlev for $88 million. The buyer will have among his or her neighbors Will Zeckendorf, one of 15CPW’s developers.

Damning Daniel Loeb, Supporting Free Speech

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Hedge Clippers, a progressive activist group, is taking aim at 15CPW penthouse owner and Third Point hedge fund honcho Daniel Loeb, reports the New York Observer. “Besides glitzy apartments and mega-yachts, Dan Loeb has developed a penchant for supporting right-wing politicians and other officials who put Wall Street’s interests ahead of Main Street’s interests,” the report reads. “This kind of political investment pays off for Loeb–-the Republican-led Senate blocks all efforts to close the carried interest loophole, levy a ‘Robin Hood’ tax on financial speculators’ stock transactions, or assess other taxes and fees on hedge fund managers and billionaires that … Continue reading

Penthouse Pugilism

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Only one New York condo has brought plutocrats to financial fisticuffs. Last night, Business Insider posted an excerpt from the new House of Outrageous Fortune paperback about the day the potty-mouthed hedgie Dan Loeb outbid the equally unchecked financier Carl Icahn for a pair of penthouses atop Fifteen Central Park West.

“Ridiculously rich people are taking over New York,” says Business Insider

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With the paperback of House of Outrageous Fortune coming out tomorrow, Business Insider wanted to know about the kind of people who inhabit 15 Central Park West and 740 Park. “There are trophy cities, trophy neighborhoods within trophy cities, and trophy buildings within those trophy neighborhoods,” I told Hayley Hudson, and “a certain kind of person is attracted to that kind of real estate.” I also offered a word to the wise: “If you want to stay out of the spotlight, don’t move to the corner of Central Park West. You’re not going to hide there.”

Temple of Transparency?

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Yesterday, Liz Smith noted that House of Outrageous Fortune peeled back the limestone curtain and revealed the names of many of the residents of Fifteen Central Park West. Today, Business Insider unveiled a snazzy graphic that displays some of those secretive folks and the worlds that most of them hail from. Feast your eyes!

Real Estate Hell, Right Here in Manhattan

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A year ago, my wife and I started looking for a new apartment. My latest Unreal Estate column in the March issue of Avenue chronicles what happened next. It’s about an apartment I think of as “The One That Got Away.” That’s it, in the photo.

Kicking a** and naming names

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On today’s New York Social Diary (and in the Huffington Post, Chicago Tribune and other papers), Liz Smith notes the similarity between a recent study of the residents of Time Warner Center and House of Outrageous Fortune’s piercing of the veil over Fifteen Central Park West. “Society gadfly Michael Gross did the same thing first and all by himself, naming the names of dozens of the rich, often foreign — and yes — sometimes sketchy residents of 15 Central Park West,” she writes. HOOF is out in paperback a week from today.

Fraud, My Rybolovlevly?

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A prominent Swiss art dealer has been indicted for defrauding 15CPW penthouse owner Dmitry Rybolovlev. “Yves Bouvier is accused of having overcharged the Russian oligarch and owner of a Monaco football club, Dmitry Rybolovlev, when acting as middleman during the sales of high-value artworks,” says Artnet, which has the scoop.