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The Struggle To Sell 895 Park Avenue

Filed under: Estates


The Manhattan triplex penthouse of the late movie producer Charles Evans, brother of Bob, has been in and out of our Sunday real estate round-up a bunch of times and none of them ending with the magic word "sold." The NY Observer's Max Abelson reports that the 14-room, four-bedroom unit at 895 Park Avenue is back on the market once again after the building's co-op board turned down a buyer who had signed a contract for at least $14 million. This is the third time that a deal for the penthouse has fallen through and the price of the apartment has been steadily tumbling since 2007 when it was first listed for $29.5 million. Now you can get this impressive spread for a far more modest $15.5 million.

The apartment offers terraces on the 16th and 18th floors with views of Central Park and the West Side skyline. It's a big, beautiful, glamourous New York City pad with large formal rooms for entertaining and an entire floor given over to bedrooms. It also includes an eat-in kitchen and there are two wood burning fireplaces in the library and living room. The co-op board is said to be looking for "settled" types with solid income.

Former UBS Exec Demonstrates How Not To Sell On Park Avenue

Filed under: Estates

Even a Park Avenue address is no guarantee of a real estate payday in New York City these days. Former UBS executive Ramesh Singh has been trying to sell his duplex at 823 Park Avenue since last year when he put the home on the market at $24.75 million. He and his wife Farida Khan had paid $20 million for apartment a few months earlier. Since then Cityfile has been faithfully chronicling the apartment's price drops. The apartment's list price recently fluttered down to $14.5 million, a full $5.5 million less than the couple paid for it. This loss doesn't include the substantial amount of money the couple invested in renovating the apartment.

The Real Estalker's excellent research reveals this isn't SIngh's first debacle on Park. In 2004, he and his wife sold their co-op at 941 Park Avenue for $6.155 million and then moved to 860 Park Avenue where they spent $6,876,250 for a full floor apartment on the fifth floor. In 2007 they then moved on to 823 Park Avenue and signed contracts on a pair of apartments. The apartment at 860 Park was first listed at $13.4 million but didn't sell until earlier this year for a disappointing $7 million.

The current apartment for sale is 7,200 square feet spread out over two floors with seven bedrooms, a formal dining room, living room, eat-in kitchen and library. The lower floor includes the master bedroom suite, an entertaining kitchen and two additional bedrooms overlooking a rear terrace. The listing is here.

1000 Park Avenue, Estate of the Day

Filed under: Estates


With less and less shelter magazines around, real estate listings may be our last source to check out great interior design. Today's New York City home is an apartment in 1000 Park Avenue, an Emery Roth prewar luxury co-op. The apartment has views over Park Avenue and includes a wood-burning fireplace in the living room and a formal dining room. Other rooms include a home office and a corner library. The home's windowed eat-in kitchen includes banquette seating. The four-bedroom apartment won my heart with its bold use of color including an exuberant Paul Smith swirl rug. This home is listed at $5.5 million.

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

The Buckleys at 778 Park, Estate of the Day

Filed under: Estates


Christopher Buckley, the son of famed conservative William F. Buckley has been in the news recently for endorsing Barack Obama and resigning from his late father's National Review but the New York Observer's Max Abelson reports that Buckley might also be in trouble with some real estate agents. He recently called the $24.5 million price for his late parents home at 778 Park Avenue to be absurdly inflated.

Is that price a bit excessive for a four-bedroom home? The New York Observer article indicates that the price may drop soon. Certainly the duplex maisonette has its charms though. The home has been given a makeover with new paint, carpet, decor and electrical upgrades. The main level includes a double entry hall that leads to a 50 ft gallery over and a winding staircase to the second private floor where there are four bedrooms. There is a large living room, adjacent to the library. The lower floor includes the formal dining room and a large kitchen as well as a second staff kitchen and staff changing room and staff quarters. The listing stresses the fact that the home can be reconfigured for today's more casual lifestyle. Currently it is still at $24.5 million through Barak Realty.

Federal Style Mansion, Estate of the Day

Filed under: Estates


When faced with a property with an impossibly hefty price tag we have to ask the question is it worth it? This one seems pretty promising. It's a 25-room red brick residence with 100ft of frontage along Park Avenue and situated between 64th and 65th Street in one of New York City's prime neighborhoods.The home was built in 1920 but has been renovated with new heating and air conditioning, a mechanical elevator, security and electrical systems. The home has southern and western exposures and views onto Park Avenue. There is a sunny yellow chef's kitchen and pantry, five large bedrooms, large formal rooms for entertaining, many staff rooms, a laundry, a wine room, a play room and space for a lavish home theater. Older touches of charm include the wood burning fireplaces, a marble staircase and hardwood plank floors. At $35 million, it's among the ranks of the most expensive pieces of real estate in the city.

Brooke Astor's Co-op, Estate of the Day

Filed under: Estates

The listing for the much-talked-about Brooke Astor apartment has hit the market. Mrs. Astor, who died at the age of 105 last year was one of the grand dames of New York society. Her home at 778 Park Avenue is considered to be an exceedingly prime New York co-op. The five-bedroom apartment has high ceilings, six terraces and five wood-burning fireplaces. A reception gallery with a wet bar, leads to a living room with a wood-burning fireplace and views up and down Park Avenue. The famed corner library has gleaming red laquer walls (the Real Estalker Mama chillingly described them as looking as if they are "dripping the blood of the under-privileged"), a wood-burning fireplace and French doors opening onto two terraces. The formal dining room also has a wood-burning fireplace and French doors leading out to a terrace. The kitchen includes a pantry, service hall, and three maid's rooms, a set-up which worked well in Mrs. Astor's days but might now be reconfigured into a large eat-in kitchen and family room for today's owner. There is an additional bedroom that can be used as a maid's room or reconfigured to be a second bedroom with ensuite bath. The private quarters include a sitting room with terrace, a separate powder room, and guest bedroom. At the end of the hall is in a corner room with a lovely wood-burning fireplace, terrace, and views toward Central Park. There are 20 closets. This co-op is listed at $46 million.

Only the very, very wealthy can apply to get into the Rosario-Candela-designed 778 Park Avenue co-op. As Max Abelson of the NY Observer pointed out, any potential owner will have to put 100% down and show more than enough cash to pay the steep monthly maintenance of $17,251.

640 Park Avenue, Estate of the Day

Filed under: Estates

As we mentioned earlier, this stately co-op at 640 Park Avenue which was previously owned by the late Evelyn Annenberg Jaffe Hall has been reduced to $23.75 million. The apartment takes up the entire 11th floor with 6,200 square feet of space. It has four bedrooms, a library, dining room, family room and a marble gallery. The posh apartment has a classic feel with moldings, working fireplaces, parquet de Versailles wood floors and plenty of gorgeous views. After the jump, classic Park Avenue, a gilt drawing room in the sky.
 

Naomi Campbell's Apartment, Estate of the Day

Filed under: Estates

The other day I mentioned that Star Reynolds put her New York home on the market. Now Braden Keil over at the New York Post reports Naomi Campbell is selling her Park Avenue duplex. The  six-room condo is selling for $5.25 million and has  three bedrooms, a library, a large dressing room, and a "floating" master bedroom with a teak bathroom including the massive four-person sunken tub shown here. Ah, if bathtubs could talk. More pictures after the jump (check out the knife collection on the wall in the kitchen, scary!).

Park Avenue, Estate of the Day

Filed under: Estates


Another case of exquisite decoration and a good chance to do some artspotting, this New York apartment is located  in the East 70's on Park Avenue. The corner apartment has a large gallery area, library, dining room and living room and all sorts of elaborate details like the intricate wood floor shown above. There are five bedrooms with bathrooms and large closets. The master suite includes a fireplace. The co-op costs $21 million and there is no terrace. After the jump, is that a Basquiat I see on the wall?


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