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@ or $5,000 a sq/ft…this is what you might expect….
A billionaire buyer has signed a letter of intent to pay $150 million for a massive triplex apartment at the Upper East Side condo tower The Mark, sources close to the deal told The Post.

The prospective purchaser, sources say, is real-estate magnate Leonard Blavatnik, who is worth $7.2 billion, according to Forbes magazine.

The price would be twice as large as the previous record listing in New York City, and nearly $50 million more than last year’s sale of the De Menil estate in East Hampton, believed to be the priciest residential transaction in the country.

“It’s hard to imagine there’s a real-estate slump when a number like that is being bandied about,” said one wide-eyed real-estate agent. “What could possibly be next.”

The famed hotel at 25 E. 77th St., between Madison and Fifth avenues, is undergoing a gut renovation that, in addition to hotel rooms, will include residential suites and apartments.

Louise Sunshine, the developer of hotel project, had no comment on the negotiations.

Prices of the units have not yet been approved by the state Attorney General’s Office.

The space for sale, totaling nearly 30,000 square feet, is a combination of five planned units on the top three floors of the building.

If sold separately, the apartments would comprise a total of 23 bedrooms, 25 bathrooms and five powder rooms.

Also featured is 3,900 square feet of outdoor space - including a huge rooftop terrace with a pavilion and fireplace - a ceiling from 10 feet to 26 feet, a gym and all hotel amenities such as twice-daily maid service, fresh linens and room service.

Blavatnik’s spokesman had no comment on his housing plans.

But the Russian-born U.S. citizen already owns numerous properties, including a house in Kensington, England, worth more than $120 million, a $50 million townhouse that he recently purchased from Edgar Bronfman Jr. on East 64th Street, and a $27 million apartment in one of the city’s top buildings on Fifth Avenue.

“His wife has already met with Jacques Grange, the designer of the hotel’s residences,” a source said. “And he’s already put in an offer.”

The highest listing price for a single New York apartment is at The Pierre hotel for $70 million.

Developer Harry Macklowe has paid close to $60 million for several units at The Plaza hotel.

Blavatnik is the founder and chairman of Access Industries, a privately-held U.S. industrial group with global interests in natural resources and chemicals, media and telecommunications.

He has a master’s degree from Columbia University and an MBA from Harvard.

Source:  New York Post

More on The Mark Condos:

NYCondoBlog 

RealEstateBloggers 

New York Condos 

This is classic.  A must see if your a RE.TECH lover or hater!

Thx to:  FoREM & RentVine

***** Press Release *****

TRULIA LAUNCHES SELF-SERVICE PREMIUM LISTINGS FOR REAL ESTATE AGENTS

Agent Featured Listings boosts online traffic from serious home buyers through top placement in search results and addition of custom contact information

Trulia.com, the fastest-growing U.S. real estate Web site, today announced the launch of Trulia Agent Featured Listings, a premium advertising service that delivers greater exposure to property listings and enables real estate professionals to attach contact information, including email and phone, to their listings on Trulia.com.

Agents whose listings appear on Trulia can choose to highlight up to 10 individual listings with preferred placement on the site. When consumers search for homes for sale on Trulia.com, featured listings that match their search criteria will appear in the top three search results. Consumers can click on an expanded property detail page to view a listing agent’s photo, phone number and send an email directly to the agent who represents the properties they’re most interested in viewing.

“Trulia Agent Featured Listings is one of many steps we’re taking to deliver marketing value to real estate agents by connecting them with more of Trulia’s serious home buyers — 81 percent of whom are looking to purchase a home in the next 12 months,” said Sami Inkinen, co-founder and COO of Trulia.com.

“We have heard from many agents in our community that they would like to increasingly localize and customize their Trulia listings and we are continually innovating to support those requests,” added Mr. Inkinen. “Agent Featured Listings is the first of several enhancements we will be making to our agent-subscription and self-service advertising features.”

Agents who participated in beta testing of the Agent Featured Listing service received  four times more traffic, on average, to featured property listings than to non-featured listings. As part of the service, agents also receive weekly traffic reports including the number of times a listing is viewed on the site, and visitors sent to their Web site from Trulia.com. Agents can sign up for Agent Featured Listings by visiting http://www.trulia.com/agents/feature. The monthly subscription fee is $50.

“At a time when so much online traffic turns out to be clutter, Trulia is focused on delivering serious home searchers to real estate professionals. The new Agent Featured Listings service promises to deliver even more,” said Adam Toups, a senior sales associate with Vanguard Properties’ Climb Real Estate Group. “In the first week of testing Agent Featured Listings, I received a solid lead through the new email contact feature.”

Agents must already have listings on Trulia.com through a broker feed or by having their Web site indexed. An intuitive wizard-style sign-up path helps real estate pros locate their listings on Trulia, upload a photo and contact information, and initiate secure monthly billing. Properties can be easily added or subtracted with one click via an agent’s My Trulia account.

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About Trulia

Trulia, Inc. (http://www.trulia.com), a residential real estate search engine and the fastest-growing U.S. real estate Web site, has revolutionized online home search by offering a rich, intuitive user experience that points consumers directly to listings on agent and broker Web sites. By partnering with the real estate industry, including 93 of the top 100 largest U.S. brokers, Trulia helps more than 2 million unique visitors per month find information on homes for sale using custom search criteria. The site also provides market trends and neighborhood data at the hyper-local level, as well as Trulia Voices, a real estate Q&A community, also enables consumers and professionals to exchange information about their local markets. For more information, go to http://www.trulia.com.

Looking for more info on this -  hit up there blog!

The windy city is also the most wired, according to a survey that showed people in Chicago are the most caffeinated in the United States.

Chicagoans eat more chocolate and drink more cola than other U.S. urbanites, and are among the top consumers of energy drinks and coffee.

They are also likely to say caffeine is good for you, according to the poll conducted by Prince Market Research.

Tampa, Miami, Phoenix and Atlanta rounded out the top five most caffeinated cities, while residents of San Francisco, Philadelphia, New York, Detroit and Baltimore consumed the least caffeine.

“It’s surprising perhaps that some places you may think have a lot of hustle and bustle like San Francisco, Philadelphia and New York, were the least caffeinated cities,” said Todd Smith, a spokesman for HealthSaver, a healthcare discount service that commissioned the poll.  Continued…

Source:  Reuters

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The legendary Breakwater and Edison Hotels are about to be sold to the highest bidder. These two landmark hotels sit on Ocean Drive in South Beach at, arguably, the best address: Ocean Drive and 10th street.

These properties were also going to be the site of the Nicky Hilton (Nicky O) Hotel, however, that project was cut short.

Together, the two hotels offer about 95 rooms and suite, and about $1M has already been invested in the refurbishment. Both hotels are not currently operating, as they were gutted and are now only partially rebuilt. The exterior facades are untouched. The new owner would need to finish the renovation.

If you are interested in bidding for these properties let us know and we will put you in contact with the appropriate person.

Source: Zilbert.com

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