News: Spotlight Content

Extell Dev. Co. launches sale of The Carlton House; Along with Angelo, Gordon, & Co.

Extell Development Company and Angelo, Gordon & Co. have launched sales at The Carlton House, the Upper East Side's most elegant new luxury residence. Set along Madison Ave. and East 61st St., The Carlton House is surrounded by the most exclusive and chic shopping, dining and cultural destinations in the world. "We are creating homes that capture the historical elegance of the Upper East Side while incorporating features that reflect a contemporary lifestyle," said Elida Justo, director of sales. "Buyers who value classic, elegant living now have access to the most gracious layouts and the finest quality of design and finishes in The Carlton House residences." Effortlessly blending into the timeless neighborhood, architectural firm Beyer Blinder Belle has preserved and restored the 1950-era limestone and brick building to its original appearance, while adding new exterior elements. A 24-hour doorman and concierge will greet residents at 21 East 61st St. upon their entrance into the lobby. Replete with exotic materials and articulated millwork - all hallmarks of Moderne movement of design - the lobby sets the stage for custom-designed art installations including a marble marquetry wall and a sculptural concierge desk. With interiors conceived by Katherine Newman Design, one of Architectural Digest's Top 100 interior design firms, the finest aspects of the early 20th century Art Deco and Moderne aesthetics are reinterpreted with an unsurpassed level of quality and craftsmanship. Comprised of 68 2-6 bedroom residences, the refined qualities of a classic Upper East Side home are highlighted; traditional paneled entry foyers and galleries with polished marble floors, formal transitions between social and private areas, and en-suite bathrooms. Many residences also offer private terraces. Prices range from $2.9 million to $65 million.
MORE FROM Spotlight Content

Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin

When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
The strategy of co-op busting in commercial real estate - by Robert Khodadadian

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Properly serving a lien law Section 59 Demand - by Bret McCabe

Properly serving a lien law Section 59 Demand - by Bret McCabe

Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:

Formal Legislative Role

Limited direct lawmaking power: The NYC Council is the primary