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The Millionaire Buyers At Super-Luxury Condo One57 Could Benefit From 'Low-Income' Tax Breaks

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one57 construction

In addition to Central Park panoramas and ultra-luxe amenities, buyers at the new One57 condo in Midtown Manhattan could be getting another perktax breaks intended to benefit low-income housing.

According to CNBC's Robert Frank, the building, which is being developed by Extell, is seeking millions of dollars in tax benefits under a New York City program that gives tax breaks of up to 80 percent for the first two years in exchange for allocating some units for low-income housing.

Those discounts would be passed on to buyers: the new owner of One57's $90 million penthouse for example, would pay around $20,000 a year in real estate taxes instead of the standard $230,000-a-year rate, Frank writes.

The catch?

One57's developers could take advantage of a well-known loophole that allows them to build the low-income units in another location—likely in an outer borough instead of inside the famously expensive highrise.

Now city officials say they are taking another look at One57's applications under the program, called 421-a, and asking the developer for more information, according to CNBC.

Extell founder Gary Barnett responded to CNBC, saying that the tax benefits would mostly benefit the company and not buyers, since he could charge more for units.

"We've had some benefit because of the abatements, but the real benefits have been to  affordable housing," Barnett told CNBC's Frank. "We've done exactly what the program was intended to do, which is to create affordable housing."

SEE ALSO: Here's What One57 Will Look Like When It's Complete

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Almost All Of One57's Full-Floor Units Are Gone

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one57 rendering night

If you want your own sprawling, full-floor apartment inside of glitzy One57, you better buy now or they may all be gone soon.

Of the 11 full-floor units inside the still-under-construction building, there are just a few left, Dan Tubb, the director of sales for One57, told The New York Post. The building did more than $300 million in sales alone this summer and has reportedly netted sales of $1 billion in total.

To purchase a full-floor unit, you'll have to lay out a minimum of $53 million, the base price.

The four-bedroom units start at $16.75 million, if you're looking to make a more conservative purchase.

DON'T MISS: ASneak Peek Inside One57, The Super Expensive Apartment Building That's Being Built Near Central Park

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Broken Crane Is Dangling From A Midtown Skyscraper

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one57

Hurricane Sandy toppled a crane at the top of the One57 building at in Midtown Manhattan.

It looks like the crane is about to fall to the street as of 2:30 p.m., reports @NYScanner. The crane is dangling from more than 1,000 feet up and NYPD is responding to the scene, according to Eye Witness News. Workers are struggling to dismantle the crane because of the winds.  

"At approximately 2:35pm today, the One57 tower crane boom became damaged by the high winds of hurricane Sandy. The hurricane storm winds have pushed the crane boom over the cab section of the high rise crane at One 57th Street," Mary Costello, senior vice president of Lend Lease, said in a statement.

"The crane was last inspected on Friday, October 26 by the Operating Engineer from Postroad Ironworks following a checklist provided by the Engineer of Record. We are working with structural engineers and the DOB on evaluating any additional measures that can be taken to secure the boom and crane structure.  Current weather and wind conditions remain very severe.”

Construction workers on the scene have told Business Insider's Julia La Roche the crane will most likely fall to the streets.

Mayor Michael Bloomberg said the Extell Company, which owns the building, is fully cooperating with the city. 

No injuries have been reported and the streets have been cleared as a precaution, the AP is reporting. 

Three buildings including the Meridian Hotel are being completely evacuated, according to NBC New York. A "collapse zone has been established. 

Debris, glass, and bricks were flying down on to 56th Street, according to The New York Times.

live video of the scene is unfolding here. From the top of Bloomberg's headquarters there's another live view of the action. Meanwhile downtown, there are reports of scaffolding coming apart and crashing down on to Broadway.

One57 will be Manhattan's tallest residential building when completed. 

Currently, no one lives in the building, though it's more than 50 percent sold. A full-floor unit inside the building starts at $53 million. The penthouse sold for $90 million

Here's a picture via Melania Trump:

one57 crane

 Here's a better look at the broken crane via Anna Holmes

one57 crane

Here's a picture via Jonathan Wald:

one57

crane

crane

Business Insider reporter Julia La Roche contributed to this report.

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Building Developers Could Face Lawsuits Over The Infamous 'Dangling Crane'

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One57 Crane

Some serious lawsuits could result from Hurricane Sandy's gusts of wind toppling a crane over the still-under-construction glitzy One57 building in Midtown Manhattan Monday, according to The Real Deal. 

The crane was completely bent backward by the wind. It threatened to drop over the 57th Street area during the peak of the storm.

In the worst case scenario, if the crane was not secured properly or city rules were not followed, there could be criminal negligence charges filed against One57 developers, Extell and Lend Lease, sources told The Real Deal.

Most suits will most likely come from businesses that were evacuated in the area suing over loss of profit. 

Extell said that Lend Lease “took all recommended measures to position the crane in anticipation of a hurricane,” according to a statement.

The crane continues to dangle nearly 1,000 feet in the air.

There's no word on if the incident will delay the opening of the building. 

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Someone Just Bought A $30 Million Apartment In The 'Dangling Crane' Building

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One57 Crane

The dangling crane hanging over the glitzy One57 building has not deterred buyers, the New York Post is reporting. 

An unnamed Connecticut hedge funder just purchased a $30 million unit inside of One57, despite the recent incident. 

One broker told the Post: 

“Buyers have a short-term memory when it comes to these things — unless someone gets severely injured.”

Hurricane Sandy snapped the crane over the still-under-construction apartment building, causing panic in Midtown on Monday. The surrounding area was evacuated in case the crane crashed to the ground.

The building is almost sold out of full-floor units, having reportedly brought in over $1 billion.

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The 'Dangling Crane' In Midtown Will Come Down On Saturday

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One 57 Crane

The crane that has been dangling over Midtown Manhattan since Monday's Hurricane Sandy will officially be taken down tomorrow, according to The Wall Street Journal

Sandy's gusts of wind had toppled the crane off the glitzy One57 building, which is still under construction. Earlier this year, the building's penthouse sold for $90 million

The surrounding area was evacuated as a precaution to shield people from the crane, which has been hanging 1,000 feet in the air. 

According to The WSJ:

The plan calls for a worker to rotate the entire crane using a small hand crank, turning the damaged boom toward the building. Then cables would be used to secure the boom to 10- to 12-foot steel arms installed near the top of the condominium tower on West 57th Street.

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Why The 'Dangling Crane' Could Be Marketing Gold For Ultra-Luxury Tower One57

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One57 Crane

For most businesses, being in the headlines for endangering thousands of human lives would considered a liability.

Unless, of course, you’re One57.

One57, the high-priced condo tower overlooking Central Park, was the subject of countless news stories after its crane boom blew over during Superstorm Sandy and dangled dangerously above the streets of midtown.

Streets were closed, the neighborhood was evacuated, and thousands of residents were left stranded, away from their homes and offices. That’s not to mention the traffic jams caused by the street closures and the police and fire resources that were diverted to the crane.

Michael Gross, the chronicler of high-end real-estate, labeled it “the dangling crane of doom,” and assailed the developer’s indifference to the neighborhood and to “mere middle-class mortals.”

There are sure to be costly lawsuits from residents and businesses displaced from the damage.

Yet real estate experts say the dangling crane may not hurt One57 at all. As hard as it is to believe, the near catastrophe might even help the project.

Jonathan Miller, of Miller Samuel, the real-estate appraisal and consulting company, said that if the crane is taken down and construction resumes on the building quickly, sales for the building’s units will be largely unaffected.

“The main thing is that there were no fatalities,” he said. “If they can get back online in several weeks, then this is a non-event. If it’s a six-month or 12-month ordeal, then it can affect the sales momentum.”

He said that because the storm was so extreme, potential buyers give the building “a pass” on the crane boom buckling.

Units at One57 are selling for up to $90 million, making it among the most expensive in the city. The building is also the tallest residential condo tower in New York, stretching to 90 stories.

According to one buyer who spoke on the condition of anonymity, the incident only helped his decision to buy. He said the constant communications from Extell, coupled with the fact that the building itself withstood the storm without damage, gave him comfort.

“They are very professional, even in this crisis,” he said. “This reinforced my decision.”

Dolly Lenz, the New York luxury super-broker, said the incident had made building famous around the world, and continues to be photographed by tourists and New Yorkers alike.

“You couldn’t buy this kind of marketing,” she said. “It was happenstance, but this is now one of the most iconic buildings in the world.”

It remains to be seen, of course, whether future buyers feel the same.

-By CNBC's Robert Frank
Follow Robert Frank on Twitter:
@robtfrank

This story originally appeared on CNBC.com.

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Why New Luxury Tower One57 Will Never Be As Successful As 15 Central Park West

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one57 construction

15 Central Park West, the ultra-luxury building that's home to Goldman Sachs' Lloyd Blankfein and Sting, among others, is a hard act to follow.

Acclaimed real estate author Michael Gross thinks another luxury tower, the much-hyped and still-under-construction One57, is going to have a hard time emulating 15 CPW's success.

"One57's marketing has clearly followed that of 15 Central Park West, but you're dealing with two different markets," said Gross, who wrote "740 Park Avenue: The Story of the World's Richest Apartment Building" and "Unreal Estate."

For one thing, 15 Central Park West, on the corner of West 61st Street and Central Park West, is set in a much more established residential neighborhood. It was always marketed as as "family building" and for "New Yorkers who lived here already," Gross said.

One57, on the other hand, is a few blocks to the south and east in a neighborhood that's not exactly known for its residential life. Buyers in this new glass building have admitted they plan to use it as a trophy home or crash pad when they are in Manhattan for business.

Foreign buyers have been dominating the New York luxury real estate market in the past couple years, and this is especially true in 15 Central Park West's re-sale market and for the first-time buyers at One57.

That's the main difference between 15 Central Park West and One57 right now: the type of first time buyers, according to Gross.

Gross acknowledged that it's hard to tell for sure what a new luxury building's story will be when it's still under construction, but it's hard not to pay attention to a building with so much hype.

"It's clear (Gary Barnett of Extell Development) is trying to take a past model and make it applicable to a new century," Gross said. "And to me that the fact that it is both modern and part of the continuum of luxury development in New York, That's what makes it fascinating."

Of course, it remains to be seen what effect the infamous "dangling crane" from Hurricane Sandy has on One57's construction timeline and prospective buyers. Forty percent of the building still needs to sell.

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Dentists Filed The First Lawsuit Over The 'Dangling Crane'

Why Millionaires And Celebrities All Flock To The Same Famous Buildings

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$44 million 15 central park west apartment

740 Park Avenue. 15 Central Park West. The Park Imperial. One57.

Besides their extremely high listing prices, these Manhattan apartment buildings have one thing in common: celebrities and the super-rich all want to call them home.

In a documentary airing tonight on PBS called "Park Avenue: Money, Power, and the American Dream,"author Michael Gross talks about how the "1 percent of the 1 percent" have always flocked to buildings such as 740 Park Avenue.

"Birds of a feather flock together," Gross says.

Gross told Business Insider that the super-rich find comfort in being around other millionaires and billionaires. Established residential areas like the Upper East Side are also known for their schools, whereas schools in up-and-coming neighborhoods like TriBeCa may suffer from overcrowding.

Want proof that the rich and famous are all living in the same handful of buildings? Just look at their rosters.

In the days before the Great Depression, 740 Park was home to oil tycoons. Now, moguls like Steve Schwarzman and David Koch call the building home.

Russian billionaire Dmitry Rybolovlev recently dropped $88 million on an apartment for his daughter at 15 Central Park West. Designer Vera Wang, Goldman Sachs CEO Lloyd Blankfein, and Bob Costas also live there. One57 is also receiving a mass amount of foreign buyers.

The Park Imperial building has more of a celebrity crowd, including P. Diddy, Christoper Meloni of "Law & Order," and Deepak Chopra.

"If you can afford the best, why not have it?" Gross said.

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A Lawsuit Over The 'Dangling Crane' At One57 Will Investigate If It's Legal To Build To That Height

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crane, sandy, nyc, 2012, bi, dng

The first lawsuit has been filed over the "dangling crane" incident that forced residents and businesses near under-construction luxury highrise One57 to evacuate during Hurricane Sandy, and more are on the way.

On Friday, two dentists filed a $5 million lawsuit in federal court blaming contractor Australia's Lend Lease Construction for the crane collapse, according to Yahoo News.

And now The Hurwitz Law Firm is seeking additional plaintiffs for a suit it plans to file against the city, crane operator, and developer Curbed obtained a copy of a flyer it is circulating in the area on Monday.

We reached out to the firm's Michael Hurwitz to find out more. He told us via email:

It is too soon to put a dollar amount on the damages we are seeking from each defendant, but I can tell you many local residents and businesses have sustained a variety of damages and ongoing interruption in ways that may not be readily apparent.

As we continue our investigation into the cause(s) of the accident, and the overall construction permitting process (inclusive of the developer's acquisition of floor area development rights enabling them to build to such heights), we will be able to form an opinion as to appropriate monetary & injunctive relief to be sought.

The law firm filed a summons and notice with the NY County Supreme Court on Friday. It alleges negligence and gross negligence resulting in the crane collapse, and will seek compensatory and punitive damages from the defendants.

Below is the summons:

one57 summons of notice

 

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Competition For New York's New Condos Is Scalding Hot

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one57 rendering night

With only 1,249 new apartments expected in Manhattan all year — up from last year, but way down from 8,052 in 2007 — competition is intense.

Buyers are snatching up still-under-construction luxury condos at a rapid rate for the first time in years, according to The New York Times.

18 Gramercy Park is following the trend. It has just three of its 16 units left, and isn't scheduled to open until 2013.

The still-under-construction One57 high-rise, that was made famous by the 'dangling crane' incident during Hurricane Sandy, has sold 60 percent of its units. The penthouse in the building sold for $90 million, unseen to the buyer upon signing a contract.

200 E. 79th Street has contracts on 25 of the 39 units signed, and is still being erected.

In 2008, when the real estate market toppled, along with the economy, buying a not-yet-completed condo was financial suicide. It was feared that developers wouldn't be able to finish the project or make good on the promises in the contract.

But everything has changed, one developer tells the Times:

“We were inundated,” said Kenneth S. Horn, Alchemy’s president. “There is such a dearth of new properties that if you deliver a nice product with nice finishes in a good area, they’re going to sell.”

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Monaco Penthouse Concept Could Hit The Market For $280 Million

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Odeon Tower Penthouse

The apartment atop a planned luxury tower in Monaco could be listed for $280 million, making it the world's most expensive penthouse if it sells for anywhere near that price.

Current renderings for the residence, at Monaco's Odeon Tower, show a five-floor home with 35,500 square feet of space.

They also show a private infinity pool with a water slide, but Fred Schiff of London-based Knight Frank (the agents in charge of global marketing for Odeon) told Robert Frank at CNBC that it was "just one thing the developers are talking about.”

The price tag on the penthouse is pure speculation, based on the size of the space and current prices for apartments in the building, which start at £5,200 per square foot ($7,958 at current exchange rates), a representative for the developer told us.

If the multi-level residence does sell for the anticipated $280 million, that would make it the most expensive penthouse in the world, followed by a residence at One Hyde Park in London that sold for $216 million.

The Odeon Tower — or Tour Odeon — will stand roughly 560 feet and look out at the Mediterranean Sea.



The current scheme features 70 apartments spanning the 49-story building, not including the penthouse and duplexes.



Oden Tower will have a luxury on-site supermarket, 24/7 concierge, and day-to-day housekeeping services for residents.



See the rest of the story at Business Insider

Bill Ackman Is Buying An Ultra-Expensive Manhattan Penthouse ... But He's Not Moving Into it

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Bill Ackman

Hedge fund billionaire Bill Ackman is leading a group of other real estate investors to buy a $90 million penthouse duplex at One57, the Wall Street Journal reports.  

One57 is a super luxurious residential skyscraper overlooking Central Park that is currently under construction.

You might remember it from super storm Sandy as the building with the hanging crane.

The deal for the apartment, which occupies the 75th and 76th floors, is still in contract, the report said.  

An unnamed source told the Journal that Ackman, who runs $12 billion Pershing Square Capital Management, does not have plans to move into the apartment.  Instead, the apartment is being used as an investment, according to the source.  

If he did move in, though, it would be perfect because it's just steps away from his hedge fund's office at 888 Seventh Avenue.  

Here's a rendering of what One57 looks like: 

One57

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Here's What We Know About The Buyers Of Super-Luxury Highrise One57

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one57 construction

It’s been about a year and a half since units at One57 went on sale, and it seems that every few months Gary Barnett, the developer of the 1,004-foot-high tower, touts a new milestone for signed contracts.

The most recent figure, which Barnett let slip in June, pegs the development at 70 percent sold. Still, with no public listings and closings still months down the road, there had been no cold, hard evidence of actual sales, until now.

At least 15 of the tower’s 94 apartments are in contract, according to a state filing, though many of them are not the deals trumpeted in press accounts, such as the Bill Ackman-led investor group that purchased the so-called Winter Garden penthouse for more than $90 million, or the Chinese parents who snapped up a unit for their toddler to use as a university student.

The information comes from a document Barnett’s Extell Development quietly filed with the New York Attorney General’s office in March for what is known as an effectiveness amendment, which in this case lists the buyers (some of them limited liability companies) of 15 of the units. The filing is required as evidence that at least 15 percent of the sales at 157 West 57th Street are bona fide as part of the process to approve a condominium or cooperative offering plan, known as declaring it effective.

In May, the AG’s Real Estate Finance Bureau, which reviews such plans, declared Barnett’s condo plan effective.

Barnett’s tower is in a race to swipe buyers and media attention from rival 432 Park Avenue, the condo tower being built by CIM Group and Macklowe Properties. Extell won the race to break ground first and to have the plan declared effective, though 432 Park will surpass One57’s height by close to 400 feet.

Among the buyers Barnett has wooed are a surprising number of apparel executives. For example, Richard Kringstein, co-owner of outerwear manufacturer Herman Kay, made a deposit to buy unit 48A, a three-bedroom with 3,228 square feet, for $17.5 million on Feb. 17, 2012.

David Beyda, CEO of Town and County Linen, and Victor Azrak, who sold his clothing licensing firm American Marketing Enterprises to Li & Fung in 2007 for a reported $128 million, also purchased at One57. Beyda made a deal for the two-bedroom 40F for $9.6 million on Jan. 13, 2012, while Azrak inked his deal later that month to pay $6.9 million for the two-bedroom 44B.

Azrak did not immediately respond to a request for comment. Extell declined to comment, other than to restate that 70 percent of the units had been sold. Beyda declined to comment.

Screen Shot 2013 07 24 at 4.05.24 PM

Click on chart to see the complete PDF of buyers and pricing at One57

When filing an effectiveness amendment, a developer can choose to list any contracts that add up to 15 percent of the sales, regardless of when the deals were signed, real estate attorney Adam Leitman Bailey said. That may explain why Extell chose not to name the buyer for the 90th-floor penthouse, whose identity is still a mystery, or Quebec billionaire Lawrence Stroll’s reported purchase of unit 85 or his Hong Kong business partner Silas Chou’s deal for unit 82.

Still, Extell did include two full-floor penthouses on the list, although the buyers used LLCs for the purchases, masking their identities. In December 2011, the month the development hit the market, One57 86 LLC put down a meager 5 percent deposit to hold unit 86, with a purchase price of $46.5 million; and Tower 83 LLC put more than $10 million down in October 2012 to purchase unit 83 for $52.58 million.

In addition, One57’s offering prices for units on the same floor differ sharply — some by more than 50 percent, according to a review of five versions of Schedule A pricing documents filed with the AG’s office over the past 22 months. That is a stark contrast with 432 Park, where most prices per square foot on a single floor varied by less than 2 percent.

For example, on the 42nd floor, the 1,037-square-foot C line unit is priced at $3,171 per foot, while the neighboring 3,228-square-foot A line unit is priced at $5,499 per foot, more than 42 percent higher.

And on the 46th floor, unit 46A is selling for $19.5 million, or $6,041 per square foot. But a buyer can snap up the much smaller unit next door, 46B, for just $4,380 per foot, or 28 percent lower.

On the higher floors, with just two units, the price differential is between 11 percent and 12 percent. The more expensive units in the A line face the park without an obstruction, while the B line (the foot of the L on the L-shaped upper floors) will always have the A line units in the view. For example, unit 66A has a price of about $7,562 per foot, while 66B has a price of $6,797 per foot.

In contrast, on the 39th floor of 432 Park, which has three units, the 4,082-square-foot 39A has a price of $4,557 per foot, while the 1,422-square-foot 39D has a price of $4,641 per foot, a differential of just 1.9 percent. On the 50th floor of 432 Park, which has two units per floor, there is just a 1.7 percent price per foot differential.

“Twelve percent is a huge floor-level adjustment assuming all views are the same, so part of that has to be view as well,” said Jonathan Miller, CEO of appraisal firm Miller Samuel, speaking generally and not about a specific building. “One to 2 percent is the typical spread we see for floor level, all other amenities being equal including view.”

More from The Real Deal:

1. Richard Gere lists Hamptons estate for $65M 
2. In Hudson Square, developers are snapping up sites following a major rezoning 
3. MTA to sell Soho parking lot for $26M to Madison Capital 

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Swanky NYC Condo One57 Bans Pet Pigs, Christmas Lights

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one57 rendering exterior

Gary Barnett’s One57 is opening its doors to the world’s elite – but not to their pigs. Other exotic critters, including gerbils, ponies and bunnies, are also animalia non grata in the 90-story tower.

In fact, no more than two “orderly domestic” pets — such as dogs, cats, caged birds and aquarium fish — will be allowed into the swanky building, and a photograph of each pet must be given to the board in advance, according to a review of the public filing of the building’s bylaws by the New York Post.

“Nothing I heard is unusual except the photograph of the pet,” prominent lawyer Jay Neveloff, who has written many condo plans but wasn’t involved in this one, told the newspaper.

Other restrictions at One57 include massage “therapy,” nude performances, and modeling. And if a resident wishes to celebrate Christmas or Hanukkah, they have to do it without the benefit of decorative window lights.

The city’s apartment laws explicitly ban several dozen beasts, including panthers, mongooses and aardwolves, as The Real Deal reported. [NYP]

More from The Real Deal:

1. How common are NYC’s poor doors?: PHOTOS 
2. Kushner, CIM to shop 200 Lafayette for $150M-plus 
3. Chetrits, King & Grove break up hotel partnership

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Malfunctioning Crane Dangles Unstable Box Over Midtown Manhattan

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A construction crane got stuck as it was raising a box above the ground at the One57 building in midtown Manhattan, NBC New York reports.

The box was dangling precariously above the street, and authorities shut down 57th Street between 6th and 7th Avenues.

The Fire Department of New York tweeted that the crane's load is unstable. Workers lowered the crane's load a few hours after it got stuck, according to ABC 7 in New York.

The box was hanging about 20 floors up in the air, ABC 7 reported. The news station also pointed out that New York City is under a tornado watch and the Department of Buildings issued a reminder earlier in the day to secure all construction sites because of the forecast of high winds.

Just last year, another crane caused problems for the same building. The top half of the broken crane, damaged by Hurricane Sandy winds, dangled over the street and shut the block down for a week.

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Chinese Owner Looks To Flip One57 Apartment For $2.5 Million Profit

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one57 rendering night

Closings have begun at Extell Development’s One57, and at least one early buyer is hoping to make a significant chunk of change by offering a one-bedroom condominium for sale.

Power broker duo Brenda Powers and Elizabeth Sample of Sotheby’s International Realty are marketing the 39th-floor pad, at 157 West 57th Street. The apartment is a rare find among trophy condos, Power said, and the owner is looking to either sell the unit for $6 million or rent it out for possibly $18,000 per month.

The apartment belongs to Tao Liu, who is based in Shanghai, according to city records filed today. Liu paid $3.56 million for the apartment in April 2012; the deal closed last month, the deed says. The unit was priced at $3.5 million — a slight 3 percent increase over the initial asking price in September 2011 — or $3,333 per square foot, according to documents Extell filed with the New York Attorney General’s office, which The Real Dealobtained in July. The new price clocks in at about $5,700 per square foot.

“At 80 Columbus Circle, for example, there are only three one-bedrooms, and here at One57 there are only three,” Powers said, referring to one of the condo towers at the Time Warner Center. “And, it has park views. You can’t find a one-bedroom with park views — normally, when these buildings are designed, the one-bedrooms always face the back.”

A spokesperson for Extell was not immediately able to provide comment. Liu could not immediately be reached.

The condo came on the market just before the New Year, and Power said they already have an interested home seeker, though that person has not yet decided whether to buy or rent. A buyer is preferred, she said.

The 1,050-square-foot home, on a lower floor (One57′s lower 30 levels are occupied by a Park Hyatt hotel), boasts floor-to-ceiling windows, a gourmet kitchen and bathroom with a marbled shower and separate tub.

The unit is currently the duo’s only listing in the building, though Powers said they hope to have more.

Extell marketed the 1,004-foot-tall building in-house, with Corcoran Sunshine Marketing Group advising on marketing.

Other buyers in the building include a Bill Ackman-led investor group that purchased the so-called Winter Garden penthouse for more than $90 million, and Chinese parents who snapped up a condominium unit for their child who is currently a toddler.

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The Most Expensive Apartment Buildings In New York City

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New York City is without a doubt one of the most expensive cities in the world to live in.

New Construction Manhattan, a luxury real estate company, put together a list of 2013's most expensive buildings based on closed sales and average price per square foot.

The most expensive building in 2013 was 15 Central Park West, at an average of $5,636 per square foot. The luxury building has stunning views of Central Park and is home to a laundry list of NYC's powerful bankers, celebrities, and big shots.

Still-under-construction One57, where a penthouse sold for a record-breaking $90 million in 2012, barely made the cut at $3,548 per square foot. Lincoln Square's Millennium Tower also made the list at $3,671 per square foot.

Here's the full list of buildings with square footage.

  1. 15 Central Park West $5,636/sq. ft.

  2. The South Tower of Time Warner Center $4,166/sq. ft.

  3. Residences at Mandarin Oriental $4,044/sq. ft.

  4. 18 Gramercy Park South $4,042/sq. ft.

  5. Superior Ink $3,901/sq. ft.

  6. The Hudson $3,714/sq. ft.

  7. Millennium Tower $3,671/sq. ft.

  8. The Mayfair $3,637/sq. ft.

  9. 200 Eleventh Avenue $3,565/sq. ft.

  10. One57 $3,548/sq. ft.

SEE ALSO: Meet The Big Shots Who Live At 15 Central Park West

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Asking Price On Condo At NYC's Luxurious One57 Jumps $10 Million In A Day

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one57 construction

A day after the $31.7 million sale of a three-bedroom condominium at Extell Development’s One57 hit property records, the sponsor unit is once again fair game and on the market for a price nearly $10 million higher, according to StreetEasy data.

Sotheby’s International Realty brokers Elizabeth Sample and Brenda Powers, who declined to comment, have the new $41 million listing. The 4,483-square-foot, 62nd-floor apartment features four bathrooms and floor-to-ceiling windows.

An undisclosed company affiliated with the mysterious “Escape From New York, LLC” appeared to have closed on the apartment, unit 62A, last month, records show. Cohen & Frankel lawyer Bruce Cohen, who represented the buyer as legal counsel, also declined to comment.

An affiliate of George Constantin-led Heritage Realty Services bought a 59th-floor condominium unit there for $30 million last month, as previously reported.

Extell and its partners are expected to gross about $2 billion in sales from the trophy residential tower.

SEE ALSO: The 11 Most Expensive US Homes Ever Sold

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