Photo Credit: Extell Development Company
In Market

Macklowe Auction Nabs $676.1 Million; 1010 Park Avenue Sells Out

Nov 19, 2021 | By: Zoe Rosenberg

Half of Macklowe’s Blue-Chip Art Collection Brings In $676.1 Million at Auction

The first of two planned auctions of the blue-chip art collection of developer Harry Macklowe and his former wife, Linda, was held at Sotheby’s New York on Monday night. The highly anticipated event, featuring 35 works by the likes of Andy Warhol, Cy Twombly, Mark Rothko, and Alberto Giacometti, brought in an astonishing $676.1 million, about $276 million more than anticipated, the New York Times reports. Brooke Lampley of Sotheby’s called the event “the most valuable single-owner auction ever staged.” The remaining 30 works will come to the podium in May.

Among the evening’s top lots are Mark Rothko’s No. 7 ($82.5 million), Alberto Giacometti’s Le Nez ($78.4 million), and Jackson Pollock’s Number 17, 1951 ($61.2 million). The Times notes that the auction brought a much-needed infusion of top-quality art to a market where demand exceeds supply, but also that the collection represents to some the whims of a changing guard. “This is the collection of a generation that’s passing,” Adam Lindemann, the gallerist and collector, told the New York Times. “Yes, these things are always going to be great, but is this what a young tech billionaire wants? I don’t think so.”

1010 Park Avenue Reaches Total Sellout

Extell Development’s 1010 Park Avenue, a Beyer Blinder Belle-designed boutique condominium building on the Upper East Side’s landmarked Park Avenue Historic District, has announced that its 11 residences are now all spoken for. The development launched sales in 2017, with available residences priced from $15 million. The most recent of those residences to go into contract was its 6,745-square-foot duplex penthouse priced at $34.995 million. 

The interiors of 1010 Park Avenue are designed by David Collins Studio, which chose materials inspired by the Art Deco movement—bronze, wood, and marble—to create timeless interiors. Building amenities include a children’s playroom, a screening room, and a game room with a billiards table and fireplace. A 24-hour doorman and concierge service are also on offer.

A Brooklyn Penthouse Sale Flirts With Neighborhood Record

A penthouse at Front & York, the new Morris Adjmi-designed building in Brooklyn’s Dumbo neighborhood, has sold for $8.75 million, marking the priciest condominium sale in the neighborhood since 2017. The New York Post reports that the sale comes with additional bragging rights: It’s part of a three-unit purchase by a single buyer totaling $16 million, which slightly overtakes the neighborhood’s current priciest condominium. That record belongs to a triplex penthouse at the Clock Tower, which traded for $15 million in 2017. 

Front & York is a 21-story development by CIM Group and LIVWRK that houses both rental and condominium residences. The 1.2 million-square-foot development notably features a half-acre common outdoor space designed by Michael van Valkenburgh Associates, the landscape architecture firm behind the design of nearby Brooklyn Bridge Park.

Diesel Launches Sales at First Branded Residence in Miami

Diesel Wynwood has launched sales in Miami, unleashing the world’s first Diesel-branded residential project onto the market with condominiums priced from $320,000, reports PROFILEmiami. The 159-condominium project is being developed by Bel Invest in partnership with the fashion brand. Bel Invest CEO Maximilian Beltrame told The Real Deal that the long-awaited launch, pushed back over a year, was due to the lifting of the U.S. travel ban. The condominiums, designed by Zyscovich Architects, include studios to three-bedroom residences that range in size from 395 square feet to 4,411 square feet. The developers are also offering turnkey residences in the building with furnishings by Diesel Living, in addition to 14 penthouses.

Nomad Penthouse Goes Into Contract for $18.75 Million

A penthouse at Rose Hill, the first residential development in New York by Rockefeller Plaza developer Rockefeller Group, has gone into contract for $18.75 million. Designed inside and out by CetraRuddy, the duplex Penthouse A spans nearly 4,400 interior square feet with three bedrooms, three and a half bathrooms, and three private terraces that total 1,331 square feet. The Art Deco-inspired tower in Manhattan’s Nomad neighborhood recently started closings and move-ins, and the penthouse sale is also anticipated to close this year.