es347fan
07-10-2003, 03:00 PM
NYC apt, park vu, $40M
British financier buying entire 76th floor of the new AOL building; price tops city record.
July 10, 2003: 1:34 PM EDT
NEW YORK (Reuters) - A British financier has agreed to pony up $40 million for a 12,600 square foot apartment in AOL Time Warner's new home at the edge of Central Park, making it the most expensive apartment sale in New York City history.
The financier, whom brokers could not identify because of disclosure agreements, agreed to buy an 8,400 square-foot unit, or the entire 76th floor, of the south tower at the two-tower structure being built on Columbus Circle at the southwest corner of the park.
The deal also includes a terrace that wraps around the 76th floor, as well as a 4,200 square-foot half-penthouse on the floor above, according to Pamela Liebman, the CEO of Corcoran Group, which represented the buyer.
The property will be sold raw, meaning the apartment, while technically inhabitable, will be a wide open space lacking internal walls and interior decoration.
"Whomever he chooses to design it for him is going to have one of the greatest blank spaces in the world," Liebman said.
The full-floor apartment has Manhattan views that stretch from the Hudson River on the west to the East River and include all of Central Park.
The pending deal tops the former record sale of a Park Avenue apartment at $36 million.
The building's nearly 200 units range in price from $1.8 million to $30 million for a floor-through apartment.
The center will be the new home not only of the very, very wealthy, but also the media conglomerate AOL Time Warner Inc. (AOL: down $0.56 to $16.12, Research, Estimates), the parent of CNN/Money, the Jazz at Lincoln Center cultural organization, the Mandarin Oriental New York Hotel, restaurants, shops and a Whole Foods Market Inc. natural food supermarket.
The AOL Time Warner Center is scheduled for a phased opening, beginning with the residential units in the fall.
****
Almost $4000/sq ft of blank space, but with a view.
British financier buying entire 76th floor of the new AOL building; price tops city record.
July 10, 2003: 1:34 PM EDT
NEW YORK (Reuters) - A British financier has agreed to pony up $40 million for a 12,600 square foot apartment in AOL Time Warner's new home at the edge of Central Park, making it the most expensive apartment sale in New York City history.
The financier, whom brokers could not identify because of disclosure agreements, agreed to buy an 8,400 square-foot unit, or the entire 76th floor, of the south tower at the two-tower structure being built on Columbus Circle at the southwest corner of the park.
The deal also includes a terrace that wraps around the 76th floor, as well as a 4,200 square-foot half-penthouse on the floor above, according to Pamela Liebman, the CEO of Corcoran Group, which represented the buyer.
The property will be sold raw, meaning the apartment, while technically inhabitable, will be a wide open space lacking internal walls and interior decoration.
"Whomever he chooses to design it for him is going to have one of the greatest blank spaces in the world," Liebman said.
The full-floor apartment has Manhattan views that stretch from the Hudson River on the west to the East River and include all of Central Park.
The pending deal tops the former record sale of a Park Avenue apartment at $36 million.
The building's nearly 200 units range in price from $1.8 million to $30 million for a floor-through apartment.
The center will be the new home not only of the very, very wealthy, but also the media conglomerate AOL Time Warner Inc. (AOL: down $0.56 to $16.12, Research, Estimates), the parent of CNN/Money, the Jazz at Lincoln Center cultural organization, the Mandarin Oriental New York Hotel, restaurants, shops and a Whole Foods Market Inc. natural food supermarket.
The AOL Time Warner Center is scheduled for a phased opening, beginning with the residential units in the fall.
****
Almost $4000/sq ft of blank space, but with a view.