EFTA01080936

PARK PARTNERS November 23, 2015 Dear Partner, I hope this letter finds you well — please see the below updates on the Park Mansion: I am happy to report that we have completed the building's demolition stage. I have included a few photos for your reference. Furthermore, we are very close to filling our building permit and we have finalized our design for the units. Please see the attached plans. The team is finishing interviews with General Contractors (GCs) and has come down to the final five GCs that will be allowed to bid on the project. Additionally included are visuals for the sidewalk shed and a rendering for the website. Please fell free to contact me if you have any questions at or Thank you so much for your trust and friendship, David J. Mitchell 801 Madison Avenue, New York, NY 10065 EFTA01080936 u Uliwicion,L u PARK MANSION 0. 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Albert( Sapeetat, 9, 2015 I 7 Sepe ' 206-208 East 35th Stree New York. NY 10016 Take (nee% of YOC kvdle (and beyond) Iron( a poah 20 East End Ave. terrace. PI i)kp He', It's a tale (practically) as old as time. When New York City real estate thrives, home 54927 builders and buyers seek to colonize neighborhoods previously deemed undesirable. The Financial District was once the exclusive domain of nine-to-fivers; these days, every other office building is a condominium. Along the Hudson River, midtown 14' • Manhattan used to be an industrial no-man's-land of warehouses and strip clubs. ABC's David Muir nicknamed 'Anchor Monster' No more — residential projects abound. And now the Upper East Side neighborhood dubbed Yorkville, which stretches from about 72nd to 96th streets east of Third Avenue, is ready for its turn. EFTA01080953 Vegas hooker inspired former The area, defined by its dearth of all-glass towers and Olympian to turn tricks YORKVILLE Area <yot plethora of tree-lined streets, has long been a favorite &Ha 944 3 for blue-bloods looking to live near prep schools and the FDR Drive — for weekend getaways out East, of course. lbseutta 0 F.0.1 Ann But as both land and condo prices hit record highs, it's ' I ° attracting a fresh wave of interest. More than a dozen Cops wrongfully nab tennis star new buildings are on the way, and with them a crop of James Blake on way to US Open ".3e,c. buyers who see Yorkville as a place where apartments 302 E96th St 8 5$1182d S. I must & 225E8La are a relative bargain. 1 CentrilePark I& Iconoeatys 4 205 &Sind% Scconi kfe.ste t Ones MO Yes, until the Second Avenue subway comes online in Ii. 20 East Wart 4, IS0EIEMSt 12. thr Chutes VIDEO • baellGristedsib late 2016, public transportation is limited as you lbeRcseModent approach the East River. But the Q extension's STATE imminent completion — coupled with a new Whole Foods and easy access to parks, museums, hospitals and other family-friendly perks — all mean people want in on a iI~ !HI il neighborhood in the throes of a transformation from nice 'n' quiet to construction- induced, decibel-busting busy. rf..1a n nAlla Check out the $66M 'crown Extell Development sure wants a piece of the action, shelling out 4100 million for a jewel of Soho real estate' Gristede's grocery store on 86th Street near First Avenue. (The property giant already owns at least four tenement buildings in the vicinity, and reports say it's cobbled together enough land to build something big.) Extell has also filed plans for two smaller projects on 92nd Street and Second Avenue, plus, it's already begun the REAL ESTATE NEWS foundation of a 30-story building at the corner of 95th and Third Avenue, just a block reattoccom• south of the boundary with East Harlem. Called The Kent, sales of 83 luxe two- to five Musician Dave Stewart's bedroom residences in a handsome brick structure will hit the market in the fourth House in Toluca Lake Gets quarter. Talk about flooding the zone! the Hollywood Treatment Musician Nell Young Is Saying 'Aloha' to Compound on Hawaii's Big Island Hot in the Hollywood Hills: Amass Ali Laner Is Selling Loh-Style Home in LA. Hal of Famer Torn Glavin Selling Florida Beach Home Dean Cain's Colorado Rents Needs a Hero to Come to the Rescue n MORE FROA, A biker tackle:: Can Sclera ParkIseconio promenade along the East River. Note that The Kent, set for completion in the fall of 2017, is replacing a row of walk-up tenements that used to dominate their block. Similarly, Icon Realty spent less than 450 million for a comparable row on Second Avenue in the 80s, which it is demolishing EFTA01080954 with the goal of putting up a chic high-rise on the site. It's markedly cheaper than Extell's deal, in part because Icon started assembling properties in 2007. (Icon is working on a second high-rise as well as a shorter rental building in the same neck of the woods.) lust look to other data and the same trend emerges. In 2010, Yorkville's median sale price was S663,500, according to real estate listings site StrectEasy. Compare that to the first seven months of this year — it's 14 percent higher, at S757,500. But remember, the sub-market remains cheaper relative to the Upper East Side at large, which boasts a year-to-date median of 51.15 million. NOW ON Psix ne a Justin Timberlake shows off son, Silas Docs don't have to admit wrongdoing in Rivers' death: judge John Slattery drops 51,600 at NYC art fair Get your lid of brats andglass boots of WarsteWer at HendeRerg. SEE ALL Despite the building boom, some low-rises remain, housing institutions, such as German butcher Schaller & Weber and beer garden I leidelberg, that arc vestiges of — NOW ON centuries past when Yorkville was an immigrant enclave. DECIDER Afea • • 'el lirSsiOtball Comedy 'The , League' Was Mocking Bro Culture Before It Was Cool SEE ALL Run your business anytime. Track sales & CB expenses iii Schaller &Weber owner Ralph Schaller happily holding his WOSSYSIII. Get paid faster V Rum payroll Let's hope they can hang on: Even more small buildings were razed to make way for dek 'mud Try it Free ) star architecture firm SlloP (of Barclays Center fame) to design a tower of 83 condos OuckBooks with Anbau Enterprises at the corner of 89th Street and First Avenue. The building, dubbed Citizen360 because its height will afford many residents an all-around view of EFTA01080955 the neighborhood, will have 6,000 square feet of amenity space that ranges from music rehearsal and art rooms to a gym and children's play area. Apartments go on sale this fall, with pricing in the 51.3 million to over-5,12 million ballpark. "The site was highly undervalued because it was so far east, and there were no good transportation links, and people just weren't interested or willing to go there. But we saw opportunity," says Barbara van Beuren, Anbau's managing director. "I think the absolute prices are manageable. This is not a building full of 510 million apartments?' Still, it points to a future far more expensive than the current data shows. Just one block from 113-year-old lowish bakery Glaser's, which churns out delicious black-and-white cookies, Citizen360's shimmery facade will rise 410 feet above street level. But trumping them all will be DDG's under-construction goliath on IS0 E. 88th St. At 521 feet, it will be the tallest structure on the Upper East Side north of 72nd Street. Its 48 apartments with 16- foot ceilings and custom lobby amvork launch sales this fall, with two-beds starting from 53.4 million, three- beds from 54.5 million and four-beds from 57 million. Thelate% readent% roe skysetorfoing Ornzen360. It's not all about living among the clouds, though. Michael president of Michael Paul Enterprises, oversaw the overhaul of two smallish rental buildings east of Third Avenue into boutique luxury projects. "They were prime locations for condominiums catering to families," says of the projects, 225 E. 81st St. (a.k.a The Justin) and 554 E. 82nd St., which have nine apartments between them. "They arc three or four bedroom units, with big living and dining areas with fireplaces, and they all have outdoor space:" Six have been snatched up, with asks ranging from 52.25 million for a two-bedroom to 55.99 million for a four-bedroom. iii~unit .--de654 East 82ncla Meanwhile, another rental-to-condo conversion — Carnegie Park — attracted first- time buyer Elizabeth Dean, who realized Yorkville offered more bang for her buck after house-hunting in lower Manhattan. "Originally, I wasn't going to go north of 86th Street. I didn't know what was above there,' says Dean, 29, who works in finance, paid 51,184 per square foot for her one- EFTA01080956 bedroom and loves the restaurants, bars and grocery stores that dot the area In July, StreetEasy reports Yorkville's median price per square foot was 51,098, up 5.1 percent from the year prior and a whopping 29.8 percent from the month prior. The Upper East Side as a whole, of course, boasts a higher median: $1,694 per square foot in luly. "It'll actually be a great investment, Dean says. "Downtown is extremely pricey, and I think there's a lot more upside to the Upper File.t.W/10 hornobuyer Elizabeth Dean in a model East Side.' and at Carnegie Park. She moves into her Qum one ibedroorn soon Part of Carnegie Park's makeover includes a slate of plush amenities designed by classicist Robert Stern, the architect behind a famously ritzy buildings like IS Central Park West. (The pool, the roof deck and the in- house "mini-Equinox" gym lured Dean.) Available apartments range from a 4955,000 one-bedroom to a 57.15 million penthouse. Voul be al* to drive up to 20 East End in style via its potte-oothare andmotor ecurt.(The latter isdepicted in the tendering.) Stern is also working on a ground-up project at 20 East End Avenue that could pass as a setback-laden prewar, with old-school details like a porte-cochere, which allows residents to enter in a vehicle via an archway from the street and drive right up to the lobby door in a circular motor court. One of these hasn't been a part of any newly constructed building since the 1930s! About half of its 43 condos, spread across 18 stories, arc in contract from $4.49 million to 514.25 million. Still, three-fourths of New York City residents are renters, and the Upper East Side's new crop of construction has something for them, too. Related has topped out on a 36- story tower at 205 E. 92nd St., where a playground used to sit. The uber-fancy development will have a massive two-story Equinox gym and a private school for kids with language-based learning disabilities on its lower floors. EFTA01080957 The under-construction rental at 205 E. 92nd Si. The apartments above, set for completion and leasing in the spring of 2016, will have layouts that skew in favor of three- and four-bedrooms. 'There will be thermostats programmable remotely on all the A/C units, and motorized shades in some of the units,* says Bryan Cho, executive vice president at Related Companies. "From the marble bathrooms to the highly designed public spaces and the amenities, it's what's usually in condominiums." On the rental market sooner is The Rose Modem, a 20-story, 82-unit tower currently finishing up construction on York Avenue. The leasing office will open the first week of October offering "competitive' rents for a luxury building, according to Bond New York's Douglas Wagner, with move-ins slated for November and December. An wt-inrusedkitohen inside a condo at The Charles PI-ofa Evan ImaRr, Want to buy now, and move in immediately? The building most ahead of the curve is The Charles. Previously stalled after 2008's downturn, the 32-story condo at 1355 First Ave. got redesigned to emphasize large MI-floor apartments before breaking ground in 2012. And it's paid off. There are four units left out of 27 total, which started at $5.97 million. A recent sale of the top six floors to two unidentified relatives for a total of 459 million made headlines. That price? On First Avenue? EFTA01080958 "The preconceived idea of what was considered prime and where you would build luxury has completely changed," says Jason Karadus of Town, who is director of sales for the Charles along with Ginger Brokaw. "A lot of people in the industry smirked at the pricing — about $2,500 per square foot ... Now it's not so risky, which is why you're seeing companies like Extell building up what's left to be developed up there." Every developable parcel seems to be getting snatched up. lust take a three-story garage on 302 East 96th Street, which developer Wonder Works bought in March for $24 million. On the northernmost border with Harlem, the developer plans to put up a 21-story, 48- unit "affordable luxury" condo building — basically right on the approach to the FDR. (Don't worry, the facade will have extra soundproofing.) "The Second Avenue subway station for 96th street, which will be one of the first ones opened, is just 200 feet away," says Eric Brody, Wonder Works' managing partner, who adds that brokers are recommending asking prices of S1,500 to 42,300 per square foot when units go on sale next year. "The buyer is anyone who can't afford to be in all these downtown neighborhoods, but still wants to live in the city and have incredibly close access to a train' First look!Onee a three-story Public transit of the future is why Andrew Ellis bought garage.302 E. 96th St bill become a 2I-story luxury ococb. a fixer-upper on 95th Street and Second Avenue in 2013. The 31-year-old consultant paid a mere $430 per square foot for a one-bedroom garden-level duplex. Then came a massive year-long renovation that updated the windows and kitchen appliances. He also completely redid the backyard, adding a rear deck and koi pond. In Yorkville, Ellis discovered a "neighborhood feel" that was a far cry from the raucous scrum of Murray Hill, where he had been renting. "I had sort of grown out of that," says Ellis, who is no longer alone in his move uptown. "My high school friends and some college friends are migrating to the Upper East Side. One is two doors down, literally, and two others are a few blocks away. Having that subway there eventually is really what did it for me. This place can only go up." Andrew EIGs stands in As Yorkvite backyard.which he completely redid. adonis a deck (so that the outdoor space was accessible from the upstairs living room of the duplex) and a koi pond. EFTA01080959 anbau DESCRIPTION 360 East 89th Street is a new construction luxury 360 East 89th Street condominium building located in Manhattan's New York, NY Upper East Side between Carl Schurz Park on the East River and the new Second Avenue subway. The building will offer a full range of residence types. all with floor to ceiling windows. innovative kitchens. and high ceilings. Over 7.500 SF of amenity space will be available for the residents' use and an on-site. fully automated parking COMPLETION DATE SIZE Ciiflf.Di SP 771 stories UNIT MIX 83 one. two, three, four bedroom and penthouse AMENITIES doorman. gym and fitness studio. ci iildien's playroom. catering kitchen. tenant and bike storage, common laundry & automated parking facility TEAM Architect SHoP Architects Interior Designer Clodagh Design Engineers Cosentini Associates Thornton Tomasetti Marketing & Sales The Corcoran Group Creative Agency IF Studio Contractor Ryder Construction. Inc. EFTA01080960 st-antk•rrrly with nerAlion in• tor trte city Big Ticket 1355 F .trAt Avenue I MICHELL,. incur's!. Four Floors, One Apartment A three-apartment penthouse nrd streets. a neighborhood with combination. ;palming the top more tenement style walk 11tic four floor; of the Charles condo- and postwar high-rises than ritzy minium at 1355 First Avenue, sold townhouses and luxury condos. for 537.94 million and was the 'There was always a line of de- most expensive closed sale of the lineation; stud Ginger Brokaw. an week, according to city record!. associate broker with Town New Development, who * handling sakes at the Charles with Jason Rands*. also of Town. - West of $37,940,000 Third was considered better than rmything east of Third." But now, 'with the Second Avenue subway I he price is the highest ever underway. she said. there has paid fora home on the Upper East been `a shift in luxury commer Side east of Third Avenue. accord- cal and residential real estate to- lint to CityRealty, which tracks co- *AV it C. bO TI• MI.. -4* ward the East River." op and condo sales_ 1335 First Avenue Units st the Charles have eat-u• The common charges for PHI, kitchens with Miele and Sub-Zerc nn 11.740-squaredoot quadruplex rooms But acconlinx to a publi- appliances. soundproofing comp( with 1.300 square feet of private cist for the Charles, t he buyer. rents like under-floor padding, terraces on two levels and views who is American. IS c reating a and master bedroom suites with that extend north, south and from custom configunition with 12 -foot dresstint areas, walk-in closets river to river. are 510,347 a month. ceding& and a pnvate elevator. "It's like having a townhouse, and marble soaking tubs. Intend Taxes are 14,04S a month, abated but with views and (hr ;civic es of finishes, designed by David Col- through 2020. an ultraluxury condominium." lins Studio, include white oak an The buyer, who was shielded under a limited liability company, said R. Ramin Kander, the chief marble floors. CRE Acqutsition L.LC, created executive of Bluerock Real Estate, Budding amenities include a the sprawling unit by combining which is des-eloping the propel children's lounge, private sierra) the original duplex penthouse. with the Victor Group. a fitness center. a game room at Priced at 3163 million, with the The buyers were represented 24-hour dcMrmen and Concierge two contiguous Data beneath, by Beth Benalloid of the Corcoran Five MI-floor four-bedrooms at one priced at SIo.Nt million and Group, who declined to comment still for sale from $6.58 million tp the other at 510 63 million. The Charles, a 27-unit glass- 59.88 million The three apartments. eta Boors ancl-limmone condommiam de- Rig Ticket includes closed sa 29 to S2, comprise a gairrn signed by Ismael Uryva. is on (ruin the previous week, riktir4 rooms and t2 and Ala, bath - Ant Avenue between 72nd and ‘Vednesday. • EFTA01080961