$50M Time Warner Center penthouse sells at an $11M loss

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One of New York City’s most expensive apartments is no longer: the penthouse atop the Mandarin Oriental Hotel at the Time Warner Center is officially off the market. And unsurprisingly, it sold at a loss—the apartment, listed for $50 million as recently as November, closed for $38.9 million. For those keeping track, that’s a 22 percent discount, punting it pretty far down the list of the city’s priciest homes.

Also not a shocker: the buyer is shielded by an anonymous LLC, with the oh-so-clever name of 80CC77B, INC. The seller was Red Cherry Worldwide Inc., which, as TRD notes, is linked to Zentek Technology founder Shozo Ohtani. It went through a series of price ups and downs over the year, listing first for $35.5 million in 2010; $42.5 million in 2012; and then $50 million in 2015.

As for the apartment itself, it’s a 4,825-square-foot corner unit, with “65 linear feet on Central Park and jetliner views from all rooms.” And since there are no listings photos, those stellar photos are the only thing we have to go by when judging the space—well, that, and the floorplans below.

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Capital Craftsmen has recently completed a 2-unit residence combination at the Mandarin Oriental with the same high rise panoramic views of Central Park and The Hudson River. 

Designing With Space in Mind

What You Need to Think About for Any Size Kitchen

The kitchen is the heart of the home and as such we all want it to be a reflection of our personality—a space that is uniquely ours, one that is functional and beautiful in form. To that extent, before renovating your space, it is important to identify the layout of your kitchen. Is it a galley kitchen? A spacious, open format? A horseshoe? To some degree, the layout will dictate certain design details that you will want to add to make your kitchen more efficient—and, of course, more stylish.

No matter what kind of kitchen you have, it is important to identify its layout so you can effectively add design details to make the most of your space.

The Galley Kitchen

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Galley kitchens may traditionally be small, but they can pack a big style punch. It is essential that you plan out all the details of the design in order to ensure that you use the space you have to its maximum potential. To add more surface area, think about utilizing a kitchen cart—not only can it act as another kitchen cabinet but can be an additional spot to use when cooking.

Open Floor Plan Kitchen

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This is one of the most popular layouts for kitchens today. Usually marked by an island and an expansive eating area, an open floor plan gives you an opportunity to make a grand statement. The island itself is probably the most compelling design element in the space. Use it for wine storage in addition to pots and pans and other kitchen necessities. Functionality-wise, it is a great place to add a sink and even a microwave. Other stylish statements to consider are pendant lights—a good way to introduce your personal style.

The Pullman Kitchen

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The Pullman kitchen format is most commonly found in studios or lofts. Whereas galley kitchens have two walls of cabinets that run parallel to each other, the Pullman kitchen is characterized by one wall of cabinets (and occasionally base cabinets on another). Out of necessity, it is the ultimate space saver. Utility meets style when you add elements that are not only fashionable but also functional.

Horseshoe Layout

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Known also as a “U-shaped” space, the Horseshoe kitchen has three walls, allowing for a good amount of counter space and cabinetry. A side-by-side refrigerator both maximizes the space and increases functionality as most of today’s appliances come equipped with technologies that greatly enhance efficiency.

When 2-Become-1

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Soaring over 70 stories above New York City’s Upper West Side sits a “Five Star Living™” luxury apartment with panoramic views of Central Park and the Hudson River. By combining two apartments, the renovated space now boast over 5,400 sq. feet along with unparalleled amenities in a much sought-after Manhattan address; 80 Columbus Circle at The Time Warner Center.

To accommodate visiting friends and relatives, a partition was needed to temporarily divide the space into two separate living quarters. The Modernfold Acousti-Seal 932 provided the privacy and acoustic sound barrier required.

Challenge: The challenge was to integrate the panels with the apartment’s existing design and architecture.

Solution: Capital Craftsmen, a New York general contractor specializing in high-end residential construction, built custom mullions and mirror inserts for the Acousti-Seal panels perfectly matching the distinctive window frames. The mirror inserts creates an optical illusion of infinite windows, and extends natural light into the space with stunning cityscape views. The results are quite impressive, and it now serves as a sophisticated room divider with a custom-built recessed side panel that neatly conceals the stacked edges when not in use.dsc_6498

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Go GRAY –

Gray has become a go-to neutral for designers, thanks to its ability to bring sophistication and character to a space while keeping the mood tranquil. The soft shade particularly shines in the living room, as it allows art, furnishings, and other accents to take center stage. Whether it’s a relaxing Hamptons beach house or a modern Manhattan apartment, gray fits with any style of architecture and decor.

Here are a few living spaces from our portfolio exemplifying the gray backdrop. Maybe you will find the right shade for your next design project in this collection of inspiring rooms.

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Renovating a Bathroom? Tips to Save..

 

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New bathrooms come with a price. A mid-range bathroom renovation in NYC – replacing all the fixtures and tile – will run for about $25,000. A higher end renovation – changing the layout, adding heated flooring – would bump up that cost to nearly $75,000. With that said, there are still ways to keep costs down when renovating a bathroom.

LIMIT TILE USE

Tile installation is already labor intensive and purchasing large quantities of tile could skyrocket your costs. Top NYC interior designers suggest using tile only in the shower. A simple subway tile could go a long way. Another alternative; instead of using border tile, you can substitute with aluminium trim to hid unglazed tile edges.

LOOK FOR LEFTOVERS OR CLOSEOUT ITEMS

Why pay for an entire slab of granite when all you need is a small piece to cover the top of a vanity? Stone fabricators sell remnants of slabs for those in need of small quantities. Certain stores and online sites sell overstocked and/or discontinued lines for as much as 80% off.

LOSE THE MEDICINE CABINET

A mirror adds style to the space and opens up a wide choice of price options. You can also go as big as the room will support, so the space ends up looking bigger and more grand.

CONSIDER LABOR COSTS

Some material may cost less to purchase but cost more to install. Tile for example is labor intensive. An alternative would be wall panels. Overall, panels cost more, but they take less time to install therefore leading to an overall cheaper route that tile.