New York City Apartment To Sell For Nearly $90 Million
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New York City Apartment To Sell For Nearly $90 Million

A new construction penthouse on Manhattan’s Upper East Side has gone into contract.

By E.B Solomont
Thu, Nov 4, 2021Grey Clock 2 min

A new construction penthouse on Manhattan’s Upper East Side has gone into contract for approx. $89 million, according to the developer.

The buyer is combining the top two units at the Bellemont condominium at 1165 Madison Avenue, according to Miki Naftali, chairman and CEO of Naftali Group, the building’s developer. The completed unit will comprise four full-floors spanning roughly 1200sqm, plus approximately 200sqm of outdoor space, he said.

Mr. Naftali declined to disclose the identity of the buyer, but said the purchaser is a New Yorker.

The larger of the two units, designed as a seven-bedroom, was originally listed for around $52 million. The smaller, designed as a four-bedroom, was listed for approx. $35.5 million. Mr. Naftali said the buyer is paying slightly more than the full asking price for the developer to deliver a combined unit with its own elevator. Alexa Lambert and Alison Black at Compass are marketing the project.

The deal is among the most expensive above 59th Street on the Upper East Side. The current record was set in 2015, when a Fifth Avenue co-op sold for approx. $103.5 million, according to research and appraisal firm Miller Samuel. A townhouse on East 67th Street traded for approx. $103.3 million in 2019, records show.

“That kind of price point in this neighbourhood is rare,” said Jonathan Miller of Miller Samuel. “Within the condo market itself, the only activity north of that number has been in one building: 520 Park Avenue.” In 2018, two units in that building sold for $98.8 million and $90.9 million, records show.

Like 520 Park, the Bellemont was designed by Robert A.M. Stern Architects and it will have a hand-laid limestone facade, Mr. Naftali said. He said he expects to start closings by the end of 2022.

Sales at the building, which has about 12 units, officially launched in late October, and Mr. Naftali said there are two other units in contract. The least expensive unit is asking $8.6 million, he said.

Manhattan luxury sales more than tripled during the third quarter of the year, compared to 2020, according to Miller Samuel.

Reprinted by permission of Mansion Global. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: November 3, 2021.

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The waterfront residence is one of Port Stephens’ finest homes.

By Kanebridge News
Fri, Aug 12, 2022 2 min

In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

The heart of this area is the kitchen, centred around a marble-topped island, state-of-the-art European appliances and an attached bar area, with built-in refrigeration, accompanied by a butler’s pantry.

Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au