Ritz 57th Street Site Goes for $52 Million
NY Post [October 4, 2006] -- BARRY Sternlicht's Starwood Capital Group has gobbled up the now vacant Ritz site at 105-07 W. 57th St. for a whopping $52 million.
The narrow site next to the Buckingham Hotel may be destined for a new Crillon, the French boutique hotel and residence brand Starwood is launching led by its flagship Hotel de Crillon in Paris.
In January, Starwood said it was targeting the city and while reps confirmed the purchase they declined comment on the exact plans.
The sellers, entities of Investcorp and Ceebraid-Signal, were going to build a new tower full of lavish condos and ritz it up, just as they had done at Palm Beach's Brazilian Court.
They paid $23 million to the family that owned the Ritz fur shop, and another $8.75 million to adjacent property owner Sam Domb for development rights but never moved forward.
*
In another ritzy step, Louis Cappelli topped off a stunning 44-story condo/hotel tower in White Plains that includes a 123-key Ritz-Carlton, Westchester on the bottom 10 floors.
The project designed by Costas Kondylis will eventually include twin, glass façade towers, a spa, wintergarden and rooftop restaurant, 400 feet in the air.
This Ritz will become the tallest tower between New York City, Boston and Montreal.
Simon Cooper, president and COO of the Ritz-Carlton Hotel Company did note that if Cappelli, whom he called a "tenacious visionary," hadn't made the deal when he had already built 20 stories, the hotel would have been on the top.
Earlier, Gov. George Pataki strolled around the top floor along with other local politicians, shaking hands with construction workers.
Cappelli told the governor we were all standing in his future "living room facing New York City" as he and his wife, Kylie Travis Cappelli, have reserved that spot already for themselves.
*
Barclays Capital is expanding its current 340,000 feet by more than 150,000 feet at 200 Park Ave. for a grand total of 490,000 feet.
Barclays currently has base floors 3-6 and is adding 27-29, which will be vacated by Winston & Strawn as it is moving up in the tower.
Stuart Eisenkraft, Lewis Miller, Jason Gorman and Michael Wellen of CB Richard Ellis represented Barclays while Ted Kaltis and Peter Birndley of Tishman-Speyer Properties on the ownership side in-house. Spokespeople declined comment.
*
There are more details on Internet infrastructure giant Globix Corp.'s just-completed sale of 139 Centre St. to Young Woo and Angelo, Gordon for $55 million.
As reported Monday in The Post, the 151,000 foot L-shaped cast-iron building on the southwest corner of Walker also has an entrance on Lafayette St. at the crossroads of TriBeCa and Chinatown.
Mark Friedman and James Murphy of GVA Williams brokered the sales deal.
The building can be redeveloped into a 300,000 foot, 45-story residential tower, but Woo may leave it alone and install a retail mall in the bottom and tech offices upstairs.
*
For the first time in 15 years, cigar purveyor Nat Sherman is moving off the corner of Fifth Ave. and heading further east to 12 E. 42nd St. where the family will expand into 6,000 feet on three levels.
The self contained building had an asking rent of $250 a foot for the ground.
Jeffrey Roseman and Kenneth Hochhauser of Newmark Knight Frank worked for the Kalimian ownership while the firm's Billy Cohen repped Nat Sherman.
"It's a great branding opportunity for them," noted Cohen.
The narrow site next to the Buckingham Hotel may be destined for a new Crillon, the French boutique hotel and residence brand Starwood is launching led by its flagship Hotel de Crillon in Paris.
In January, Starwood said it was targeting the city and while reps confirmed the purchase they declined comment on the exact plans.
The sellers, entities of Investcorp and Ceebraid-Signal, were going to build a new tower full of lavish condos and ritz it up, just as they had done at Palm Beach's Brazilian Court.
They paid $23 million to the family that owned the Ritz fur shop, and another $8.75 million to adjacent property owner Sam Domb for development rights but never moved forward.
*
In another ritzy step, Louis Cappelli topped off a stunning 44-story condo/hotel tower in White Plains that includes a 123-key Ritz-Carlton, Westchester on the bottom 10 floors.
The project designed by Costas Kondylis will eventually include twin, glass façade towers, a spa, wintergarden and rooftop restaurant, 400 feet in the air.
This Ritz will become the tallest tower between New York City, Boston and Montreal.
Simon Cooper, president and COO of the Ritz-Carlton Hotel Company did note that if Cappelli, whom he called a "tenacious visionary," hadn't made the deal when he had already built 20 stories, the hotel would have been on the top.
Earlier, Gov. George Pataki strolled around the top floor along with other local politicians, shaking hands with construction workers.
Cappelli told the governor we were all standing in his future "living room facing New York City" as he and his wife, Kylie Travis Cappelli, have reserved that spot already for themselves.
*
Barclays Capital is expanding its current 340,000 feet by more than 150,000 feet at 200 Park Ave. for a grand total of 490,000 feet.
Barclays currently has base floors 3-6 and is adding 27-29, which will be vacated by Winston & Strawn as it is moving up in the tower.
Stuart Eisenkraft, Lewis Miller, Jason Gorman and Michael Wellen of CB Richard Ellis represented Barclays while Ted Kaltis and Peter Birndley of Tishman-Speyer Properties on the ownership side in-house. Spokespeople declined comment.
*
There are more details on Internet infrastructure giant Globix Corp.'s just-completed sale of 139 Centre St. to Young Woo and Angelo, Gordon for $55 million.
As reported Monday in The Post, the 151,000 foot L-shaped cast-iron building on the southwest corner of Walker also has an entrance on Lafayette St. at the crossroads of TriBeCa and Chinatown.
Mark Friedman and James Murphy of GVA Williams brokered the sales deal.
The building can be redeveloped into a 300,000 foot, 45-story residential tower, but Woo may leave it alone and install a retail mall in the bottom and tech offices upstairs.
*
For the first time in 15 years, cigar purveyor Nat Sherman is moving off the corner of Fifth Ave. and heading further east to 12 E. 42nd St. where the family will expand into 6,000 feet on three levels.
The self contained building had an asking rent of $250 a foot for the ground.
Jeffrey Roseman and Kenneth Hochhauser of Newmark Knight Frank worked for the Kalimian ownership while the firm's Billy Cohen repped Nat Sherman.
"It's a great branding opportunity for them," noted Cohen.
posted by rjgny2004 at 10:59 AM
0 comments
