Brokers say the very top of the market — consisting of eight- and nine-figure homes — 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. — NYT
It has been whispered about for months, but now it’s official: Vornado Realty Trust 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. — therealdeal.com
Mortenson Construction Vice President John Wood said stadium designers and builders will cover the cost, so it won’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. — washingtontimes.com
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The architecture and engineering teams fought to keep up. As the terminal ballooned from 200,000 to 340,000 square meters (dwarfing Frankfurt’s 240,000 and just shy of Heathrow Terminal 5’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’s cost, borne by taxpayers, has tripled to €5.4 billion. — bloomberg.com
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. — ny.curbed.com
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 — curbed.com
A triplex penthouse at Zeckendorf Development Co.’s tower under construction on Manhattan’s Upper East Side will be offered for sale at $130 million, making it New York’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. — bloomberg.com
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. — online.wsj.com
The Opus Hong Kong is located at 53 Stubbs Rd. in the city’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 “every expectation it will break records,” Chief Executive Martin Cubbon said. — blogs.wsj.com
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