Latest news with #OlshanRealty
New York Post
10 hours ago
- Business
- New York Post
‘Big Ass Fans' entrepreneur has found a buyer for his lovely NYC townhouse — which Malcolm Forbes once owned
A landmarked West Village townhouse once owned by the late magazine publisher Malcolm Forbes — known in part for his extravagant homes, Republican politics and Fabergé egg collection — has found a buyer. The 25-foot-wide, six-story dwelling at 11 W. 12th St. was last asking $27 million before entering contract. The sale has not closed and it's not yet certain how much it's selling for. The seller is Texas-based entrepreneur J. Carey Smith, who paid $19.9 million for the stately home in 2019. 11 The late publisher Malcolm Forbes. Getty Images 11 J. Carey Smith is the current seller of the property. 11 The home's charming red brick exterior. Douglas Elliman 11 The residence benefits from massive exposures. Douglas Elliman 11 A view inside the roomy kitchen. Douglas Elliman 11 There's room for the new owner to have a home office. Douglas Elliman 11 A cheerfully designed bedroom inside the townhouse. Douglas Elliman It was the highest-priced property to enter into contract last week, according to Olshan Realty's luxury market report. The news was first picked up by the Real Deal. Smith sold his company, Big Ass Fans, for $500 million in 2017. He has since founded Unorthodox Ventures, an investment company based in Austin. The townhouse, located along the prime Gold Coast, dates to 1847. 11 A lovely bath retreat. Douglas Elliman 11 The handsome formal dining room. Douglas Elliman 11 The new owner will also get the most supreme New York perk: private outdoor space. Douglas Elliman 11 There's plenty of room for outdoor dining now that summer has arrived. Douglas Elliman The previous owners were Icon developers Todd Cohen and Terrence Lowenberg, who had paid $7.25 million for it in 2012 and then did a gut-renovation. The 9,652-square-foot home comes with five bedrooms, six baths and a two-car garage. Details include an elevator, an 800-bottle wine room, a movie theater, a gym and a great room with ceilings over 22 feet high. There are also 2,423 square feet of outdoor space, from a private garden to two terraces and a rooftop hangout. The listing brokers are Douglas Elliman's Mark Fromm and Claudia Saez-Fromm.
New York Post
06-05-2025
- Business
- New York Post
NYC's trophy market of $10M-plus homes shows signs of ‘weakness' after ‘wild swings in the stock market'
Luxury home buyers in New York City are thinking twice before scooping up a multimillion-dollar property. The Big Apple's trophy home market has long been resilient, but Manhattan's is being described as 'one area of weakness,' according to the Olshan Luxury Market Report. The trophy market includes properties that are listed at $10 million-plus. In the past four weeks, 12 contracts were signed for properties at that price point. That's the lowest April level since 2017, when 11 were signed. Other parts of the Manhattan luxury market are also seeing a slight dip. Despite a strong week of contract signings over the Easter holiday, there was a slight dip in contract signings in the last week of April. Only 28 contracts in the $4 million-plus range were signed in Manhattan. Still, overall, 113 contracts were signed at $4million-plus in New York City. The average asking price was $7,542,857. 'The reason for the decline in trophy sales is linked to the wild swings in the stock market,' Donna Olshan, president and real estate broker at Olshan Realty, tells 'At the end of April, the S&P 500 was down 5.3%, but the financial markets looked much worse earlier in the month.' Despite the slight dip in April, Olshan adds, 'The year-to-date trophy market numbers are fine for 2025.' According to a new report, there were only 12 contracts signed for properties with values over $10 million in Manhattan in April. Christopher Sadowski Top of the class The No. 1 contract signed for the last full week of April was 16 East 64th Street, on the Upper East Side of Manhattan. It had an asking price of $25 million and was listed in March 2024. It's now under contract—no word on the accepted price yet. The townhome is 8,700 square feet and six stories high. It includes five bedrooms, seven bathrooms, two power rooms, a gym, and, of course, an elevator. The home has a marble staircase, garden, and two terraces offering privacy right in the heart of the Big Apple. The seller originally paid $21.5 million in August 2005 and did a renovation of the property. The annual real estate taxes are $137,643. Manhattan market In April 2025, 450 homes were for sale in the $10 million-plus price range—making up the 'trophy market,' according to data from our economists. There were also 775 listings priced between $5 million and $10 million in April, which spent a median of 82 days on the market. Additionally, there were 3,789 listings on the market priced between $1 million and $5 million in April, which spent a median of 59 days on the market. 'Widespread economic uncertainty and stock market tumult may be to blame for a slowing ultraluxury market. Buyers looking to purchase a 'trophy' home may be taking a wait-and-see approach instead of jumping into the market,' explains Hannah Jones, senior economic research analyst at 'Homes at this price point must wait for a very specific buyer, which could take months.' Jones points out that, despite the high price of homes in New York City, the typical home spends just four more days on the market than the national norm. 'High demand for properties in Manhattan keeps the market pace quick and home prices elevated,' says Jones.
New York Post
23-04-2025
- Business
- New York Post
Hedge fund titan Bill Ackman has found a buyer for his Central Park-facing co-op — last listed at a 30% loss
Bill Ackman, the billionaire hedge fund titan behind Pershing Square Capital Management, is in contract to sell one of his two Upper West Side apartments at 211 Central Park West, last listed at a significant discount. The three-bedroom, three-bathroom co-op, located in the iconic Beresford building, entered contract on April 18, according to the weekly market report released by Olshan Realty. However, as the sale has not yet closed, the final price to be paid isn't available. The buyer came after the unit's asking price was slashed to $9.5 million from an initial $11.5 million. Ackman had acquired the unit in 2017 for $13.5 million — a record for the building at the time. 5 Bill Ackman has been connected to the building since 2006, having owned multiple units at the the Beresford at 211 Central Park West. Alexandre – 5 Bill Ackman. REUTERS Occupying nearly 3,000 square feet, the home is newly renovated, according to the listing. Features include 10-foot ceilings and Central Park views. Details of the forthcoming owner are also not available. Vivian Fischer of Sloane Square, one of the brokers who represented this listing in a co-exclusive, did not respond to a request for comment. 5 The home occupies roughly 3,000 square feet. Sloane Square 5 The home, newly renovated, offers views of Central Park. Sloane Square The transaction is part of Ackman's broader effort to streamline his Manhattan real estate portfolio. In November 2024, he listed the two apartments in the Beresford, a storied Art Deco landmark, for a combined $19.9 million. The pair, units 8E and 8F, were purchased eight years ago for a combined $22 million shortly after his divorce from landscape architect Karen Ackman. The second unit, 8E, remains on the market, listed at just under its $8.5 million purchase price. Ackman's history with the Beresford runs deep. 5 One of three bedrooms. Sloane Square In 2006, he and Karen purchased a 17th-floor co-op in the building for $26 million. Following their separation, Ackman transferred that unit to Karen for $15 million in 2018, property records show. Now married to designer Neri Oxman, Ackman continues to hold other high-profile properties, including a $91 million, six-bedroom condominium at One57 on Billionaire's Row, registered under a shell company, 57157 Co. LLC. The sale comes as Ackman, whose net worth Forbes estimates at $8.9 billion, navigates a dynamic real estate market. This now-in-contract unit, boasting a gas fireplace and three walk-in closets, had been marketed as a luxurious retreat overlooking Central Park. He now lives on West 77th Street with Oxman after a years-long development project for a custom penthouse.
Yahoo
19-02-2025
- Business
- Yahoo
High-End Real Estate Is on a Hot Streak in Prime U.S. Markets, New Reports Say
The uppermost end of the real estate market wasn't all roses in 2024, but some pockets of the U.S. fared better than others and are poised to have a busy 12 months. According to a slew of new reports, all signs point toward 2025 being a good year with home sales in the million-dollar-plus sector growing and Manhattan clocking in the busiest week for luxury home sales since 2022. 'The luxury market continues to ride an impressive streak,' wrote Donna Olshan, president of Olshan Realty, in the firms report. In the past year, approximately 300,000 homes sold for over $1 million, an impressive increase from 275,000 the previous year, based on data. In cities such as Colorado Springs, 14.2 percent of homes sold in 2024 surpassed the $1 million mark, up 6.3 percent from the year before. Similarly in Durham-Chapel Hill, 12.6 percent of homes sold in 2024 exceeded $1 million, reflecting a 5.5 percentage-point increase year-over-year. Meanwhile, the share of $1 million-plus home sales in Seattle rose by 5.5 percent, now making up 27 percent of the market. More from Robb Report Holy Modernism Week! Adam West's Former Palm Springs Home Has Been Transformed Into a Contemporary Bat Cave Aman New York's Luxe Catskills Ski Trip Comes With Slopeside Butler Service and Après-ski Attire Palm Beach's Luxury Real Estate Market Is Thriving When it came to which markets led the pack, Compass revealed that New York, California, Florida, and Colorado were all represented among the top ultra-luxury markets in the U.S. for 2024, as reported in The New York Post. The real estate brokerage found America's ultra-luxury market notched over 1,700 sales of homes of at least $10 million over the course of last year, marking a 350 percent jump from 2023. Those sales, the real estate firm said, were worth a combined $31.39 billion and interestingly, nearly $23.2 billion of that total came from just 10 locales within the four previously mentioned states. 'The premium market continues to defy expectations with a wave of momentum from coast-to-coast,' said Felipe Hernandez Smith, head of Compass Luxury. Most recently, Manhattan logged more activity in the last week than it has in any other week over the past three years, Mansion Global reported. Luxury home sales in the New York City borough gained momentum in the seven days leading up to Sunday, with 41 contracts signed for properties priced at $4 million or more. The deals, which included 26 condos, 10 cooperative unit, and five townhouses, totaled $366.4 million based on their most recent listing prices. The priciest home to go under contract last week was a Fifth Avenue townhome directly across from the Metropolitan Museum of Art. Originally listed in 2021 for $80 million and last priced at $49.9 million, the property comprises a whopping 16,000 square feet of living space, including 10 bedrooms, seven full bathrooms, and five kitchens. The second-highest deal of the week was for a not-yet-completed West Village condo that actually saw a price increase before scoring a buyer. The roughtly 4,600-square-foot apartment at 140 Jane Street was initially listed in September for $20.5 million but went into contract with an asking price of $22 million. Once completed, the apartment will feature four bedrooms and a conservatory. Best of Robb Report The 10 Priciest Neighborhoods in America (And How They Got to Be That Way) In Pictures: Most Expensive Properties Click here to read the full article.
