Archinect - News 2016-12-06T09:23:11-05:00 http://archinect.com/news/article/149957053/the-era-of-aspirational-pricing-is-over The era of aspirational pricing is over Nam Henderson 2016-07-11T01:39:00-04:00 >2016-07-11T01:39:55-04:00 <img src="http://cdn.archinect.net/images/650x/bx/bx1avg7zhu7z5hax.jpg" width="427" height="485" border="0" title="" alt="" /><em><p>Brokers say the very top of the market &mdash; consisting of eight- and nine-figure homes &mdash; is faring the worst as slowing economies overseas and volatile stock markets have spooked buyers. The supply of homes for the rich exploded as builders aimed at the high end after the financial crisis.</p></em><br /><br /><p>Robert Frank highlights a&nbsp;worrisome pileup in the&nbsp;overinflated; luxury housing,&nbsp;megamansions and penthouse market.</p> http://archinect.com/news/article/149943925/it-s-official-250m-mega-penthouse-in-stern-designed-220-central-park-south-tower-is-now-nyc-s-priciest-address It's official: $250M mega penthouse in Stern-designed 220 Central Park South tower is now NYC's priciest address Alexander Walter 2016-05-05T17:32:00-04:00 >2016-05-07T21:52:42-04:00 <img src="http://cdn.archinect.net/images/650x/kc/kcbguw6tmi6rhphz.jpg" width="650" height="488" border="0" title="" alt="" /><em><p>It has been whispered about for months, but now it&rsquo;s official: Vornado Realty Trust&nbsp;is offering up a palatial four-floor apartment at 220 Central Park South that is priced at a record-smashing $250 million. The massive condominium will encompass floors 50 through 53 of the Robert A.M. Stern-designed limestone tower, and it will span some 23,000 square feet [...]. The asking price works out to nearly $11,000 per square foot.</p></em><br /><br /><p>Previously on Archinect:&nbsp;<a href="http://archinect.com/news/article/129791831/this-250m-mega-penthouse-might-become-new-york-s-priciest-home" target="_blank">This $250M mega penthouse might become New York's priciest home</a></p> http://archinect.com/news/article/148733285/leaky-gutter-at-unfinished-vikings-stadium-adds-3m-4m-to-cost-overruns Leaky gutter at unfinished Vikings stadium adds $3M - $4M to cost overruns Amelia Taylor-Hochberg 2016-02-22T13:18:00-05:00 >2016-02-23T08:43:37-05:00 <img src="http://cdn.archinect.net/images/650x/sg/sgfkz3d9kvf2kidm.jpg" width="650" height="433" border="0" title="" alt="" /><em><p>Mortenson Construction Vice President John Wood said stadium designers and builders will cover the cost, so it won&rsquo;t be added to the overall budget or cost taxpayers or the team any money. [...] the Minnesota Sports Facilities Authority tentatively agreed to pay Mortenson $16 million for cost overruns even though the final figures are still being tallied. The authority is overseeing construction of the $1.1 billion stadium and approved the payment to resolve a mediation claim by Mortensen.</p></em><br /><br /><p>Related on Archinect:</p><ul><li><a title="How Cost of Train Station at World Trade Center Swelled to $4 Billion" href="http://archinect.com/news/article/115115396/how-cost-of-train-station-at-world-trade-center-swelled-to-4-billion" rel="nofollow" target="_blank">How Cost of Train Station at World Trade Center Swelled to $4 Billion</a></li><li><a title="Budget Busters: ranking the world's most overbudget monuments" href="http://archinect.com/news/article/111501222/budget-busters-ranking-the-world-s-most-overbudget-monuments" rel="nofollow" target="_blank">Budget Busters: ranking the world's most overbudget monuments</a></li><li><a title="HKS is chosen to design new Vikings stadium" href="http://archinect.com/news/article/58206983/hks-is-chosen-to-design-new-vikings-stadium" rel="nofollow" target="_blank">HKS is chosen to design new Vikings stadium</a></li><li><a title=" Stadium Sticker Shock: Costs Explode for Russia's 2018 World Cup" href="http://archinect.com/news/article/104403021/stadium-sticker-shock-costs-explode-for-russia-s-2018-world-cup" rel="nofollow" target="_blank">Stadium Sticker Shock: Costs Explode for Russia's 2018 World Cup</a></li><li><a title="PATH/Fail: The Story of the World&rsquo;s Most Expensive Train Station" href="http://archinect.com/news/article/73850206/path-fail-the-story-of-the-world-s-most-expensive-train-station" rel="nofollow" target="_blank">PATH/Fail: The Story of the World&rsquo;s Most Expensive Train Station</a></li></ul> http://archinect.com/news/article/132957160/berlin-s-6-billion-airport-drama Berlin's $6 billion airport drama Alexander Walter 2015-07-28T15:22:00-04:00 >2015-08-08T21:05:05-04:00 <img src="http://cdn.archinect.net/images/650x/5f/5faj96woz9b32vew.jpg" width="650" height="446" border="0" title="" alt="" /><em><p>The architecture and engineering teams fought to keep up. As the terminal ballooned from 200,000 to 340,000 square meters (dwarfing Frankfurt&rsquo;s 240,000 and just shy of Heathrow Terminal 5&rsquo;s 353,000), they parceled out the work to seven contractors. That soon grew to 35, and they brought in hundreds of subcontractors, says Delius. [...] At the very moment Merkel and her allies are hectoring the Greeks about their profligacy, the airport&rsquo;s cost, borne by taxpayers, has tripled to &euro;5.4 billion.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd"> <html><head><meta></head></html> http://archinect.com/news/article/129791831/this-250m-mega-penthouse-might-become-new-york-s-priciest-home This $250M mega penthouse might become New York's priciest home Alexander Walter 2015-06-17T15:55:00-04:00 >2015-06-19T13:04:55-04:00 <img src="http://cdn.archinect.net/images/650x/om/om6myg9w9281vfud.jpg" width="650" height="434" border="0" title="" alt="" /><em><p>Vornado's super luxury tower at 220 Central Park South isn't even out of the ground yet, but billionaire buyers seemingly can't wait to stash their stacks of cash in the 950-foot-tall tower. The Real Deal hears rumblings that a Qatari investor is eyeing a monstrous spread that would cost around $250 million, making it easily the most expensive home in New York City. It would completely obliterate the current record, the $100 million sale at One57.</p></em><br /><br /><p>Robert A.M. Stern's NYC condo towers have a habit of attracting record bids (previously:&nbsp;<a href="http://archinect.com/news/article/109657265/nyc-s-most-expensive-condo-to-be-listed-at-130-million" rel="nofollow" target="_blank">NYC&rsquo;s Most Expensive Condo to Be Listed at $130 Million</a>).</p> http://archinect.com/news/article/115104940/1-wtc-tops-the-list-of-most-expensive-skyscrapers 1 WTC tops the list of most expensive skyscrapers Archinect 2014-12-03T11:05:00-05:00 >2015-06-05T17:52:48-04:00 <img src="http://cdn.archinect.net/images/650x/xa/xa9z8bdegneg8sol.jpg" width="640" height="465" border="0" title="" alt="" /><em><p>One World Trade Center is by far the world's most expensive building, coming in at $3.9B, nearly double the second-most expensive buildings, Vegas' Palazzo casino and London's The Shard, which both cost $1.9B to build. Perhaps even more surprising, Dubai's dizzying Burj Khalifa, currently the world's tallest building, comes in at number five</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd"> <html><head><meta></head></html> http://archinect.com/news/article/109657265/nyc-s-most-expensive-condo-to-be-listed-at-130-million NYC’s Most Expensive Condo to Be Listed at $130 Million Alexander Walter 2014-09-23T19:01:00-04:00 >2014-09-24T19:19:12-04:00 <img src="http://cdn.archinect.net/images/650x/vw/vwtsu9b0g6ca9wn9.jpg" width="650" height="436" border="0" title="" alt="" /><em><p>A triplex penthouse at Zeckendorf Development Co.&rsquo;s tower under construction on Manhattan&rsquo;s Upper East Side will be offered for sale at $130 million, making it New York&rsquo;s most expensive apartment listing. The 12,394-square-foot (1,151-square-meter) property will span the top three floors at 520 Park Ave., where sales will begin the first quarter of next year, Arthur Zeckendorf said in an interview today.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd"> <html><head><meta></head></html> http://archinect.com/news/article/85306327/heatherwick-chosen-to-create-potentially-world-s-most-expensive-public-art-piece-for-new-york Heatherwick chosen to create potentially world's most expensive public art piece for New York Archinect 2013-10-29T18:20:00-04:00 >2013-10-29T18:20:17-04:00 <img src="http://cdn.archinect.net/images/650x/28/28e35f1727abc673eb23c9d4bfb9fce2.jpg" width="553" height="369" border="0" title="" alt="" /><em><p>It isn't clear what the artwork will look like, though a person familiar with the matter said it would have a "gathering" theme. But it will be expensive: Mr. Ross, chairman of builder Related Cos., has told friends and associates the company intends to spend as much as $75 million on the centerpiece and surrounding public space.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd"> <html><head><meta></head></html> http://archinect.com/news/article/20531408/hong-kong-s-skyline-prepares-for-an-addition-by-frank-gehry Hong Kong's Skyline Prepares for an Addition by Frank Gehry Archinect 2011-09-15T13:43:00-04:00 >2012-11-18T23:41:33-05:00 <img src="http://cdn.archinect.net/images/650x/fa/fac1045d9f341445f9aab2b89ca88334.jpg" width="262" height="394" border="0" title="" alt="" /><em><p>The Opus Hong Kong is located at 53 Stubbs Rd. in the city&rsquo;s Peak area, one of its most expensive neighborhoods. The cost of renting one of the 6,000-square-foot apartments in the 12-story, 12-unit apartment building has not been set yet, but Swire Properties has &ldquo;every expectation it will break records,&rdquo; Chief Executive Martin Cubbon said.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd"> <html><head><meta></head></html>