The highs and ‘owes’ of NYC’s very richly housed
THE owners of the 21stfloor super-unit at the Trump Parc at 106 Central Park South owe some serious cash to both the condo and the city.
The luxurious, 10-bedroom, seven-bath apartment atop the 37-story tower was purchased in 2013 for $14.25 million. It came with a separate apartment that is used as a private gym.
The prior owner was renting out the marblefilled spread for a mere $57,500 a month.
The new owners have increased the mortgage several times over the years, essentially using the grand pied-à-terre as a piggy bank.
In December 2016, they last refinanced with Citibank by adding an additional $4.56 million over its then $13.65 million mortgage — to total $18.2 million.
Yet just one month later, in January 2017, records show two property tax checks to the city bounced.
As of Monday, the main residence owes the city $99,362 and the gym unit owes $6,387.
Although the city shows $12,874 in credits on one of the units going back to 2014, an application must be made to obtain these funds as the Finance Department doesn’t credit past due bills or proactively send out a check.
New documents show the owners now owe the condo $34,034 for common charges and fees back to February.
According to sources and international records, the owners are a “nice couple” from Australia, so I’m hoping it isn’t a medical or fi- nancial kerfuffle and the bills were merely eaten by a neighborhood dingo.
Their lawyers did not return calls or e-mails for comment.
This appears to be the first time since 2013 that this board has had to file a lien — although a handful were previously filed in the Trump-developed tower.
The company declined comment.
Unfortunately, this building is not alone. A few high-priced apartments along Billionaire’s Row that were sold to foreign entities have since been foreclosed as their owners’ fortunes changed — or the individuals were sought for misdeeds in their homelands.
As once source advised, “This happens from time to time.”
Eventually the units are foreclosed and sold, the arrears paid, and the boards and other residents are made whole.
Two more luxury designers are moving their offices to 693 Fifth Ave. between East 54th and East 55th streets.
Escada has signed a lease for 5,844 square feet on the sixth floor, where it will house its expanded offices and be close to its store at 7 E. 55th St. Jim McCaffrey and Ethan Silverstein of Cushman & Wakefield represented Escada in the lease.
Bugatchi Uomo will move into 6,072 square feet on the eighth floor from its current offices at 264 W. 40th St. Stephane Abitbol rep- resented the Florida-based menswear brand in-house.
The two join the retail tenant, Valentino, in the 20story office tower, which now has average asking rents in the mid-$70s per square foot.
The 105,500-square-foot slender office tower, previously known for department stores Fortunoff and later Takashimaya also hosts the London-based art gallery Carpenters Workshop.
Affiliates of Paris-based FIMALAC purchased the building from Thor Equities, headed by Joe Sitt, at a price of $527 million two years ago.
They were represented by the Savitt Partners’ team of Michael Dubin, Elliot Zelinger and Greg Lafayett. FIMALAC owns Fitch Ratings, among other investments.
The law firm of Rosenberg & Estis is expanding at 733 Third Ave. to 51,778 square feet. The lawyers renewed their entire 12th and 14th floors and signed a new, 10year lease for the entire 15th floor of 16,456 square feet.
The firm also enjoys a 2,009-square-foot terrace overlooking Third Avenue.
Rosenberg & Estis was represented by its members,
Michael E. Lefkowitz and William Byers. The Durst Organization ownership was represented by Tom Bow and Ashley Mays.
Founded in 1975, Rosenberg & Estis is focused on real estate. It moved to the building in 1993, when it occupied just the 14th floor.
This year, the building was certified “LEED Gold,” and the Energy Star-certified tower ranks in the top 20 percent of the most energy efficient in the US.
A new food hall is coming to the Garment Center. Fête New York will open next spring in 12,063 square feet at the base of 231 W. 39th St. with nine culinary concepts led by rising chefs.
The food concept was created by former Godiva executive Doris Huang. Once open seven days a week, it will enliven the dreary midblock area between Seventh and Eighth avenues.
The contemporary Art Deco space is being designed by Carpenter & Mason to celebrate the city. Its central bar will focus on New York-born-and-raised brews and spirits. Michael Yadgard of Maxwelle New York represented Fete in the 16-year deal that had an asking rent of $125 per square foot. James Buslik and Jeffrey Buslik of Adams & Co. represented the ownership of the 1908 building known as the Contemporary Fashion Center.