Corcoran Group breaks record for largest NYC residential sale.The Corcoran Group announced that they have brokered the sale of a penthouse residence at One Central Park located at the AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner Center The Time Warner Center is a mixed-use skyscraper developed by The Related Companies in New York City. Its design, by David Childs and Mustafa Kemal Abadan of Skidmore, Owings & Merrill, consists of two 229 m (750 ft) towers bridged by a multi-story atrium containing upscale retail for more than $40 million. When the deal closes, it will be the largest single residential real estate transaction in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. history. The Sunshine Group, Ltd. represents The Related Companies L.P. and Apollo Real Estate Advisors, the owners and developers of AOL Time Warner Center at Columbus Circle Columbus Circle, named for Christopher Columbus, is a major landmark and point of attraction in the New York City borough of Manhattan. Completed in 1905 and renovated a century later, it is located at the intersection of Broadway, Central Park West, Central Park South (59th , while Robby Browne of the Corcoran Group represents the buyer. Both the Corcoran Group and Sunshine Group are owned by NRT Incorporated, the nation's largest residential real estate brokerage company and a subsidiary of Cendant Corporation, a leader in the real estate and travel services industries. The luxury condominium, one of the penthouses that crown AOL Time Warner Center will feature dramatic twenty five foot high glass walls, wraparound Wraparound A financing device that permits an existing loan to be refinanced and new money to be advanced at an interest rate between the rate charged on the old loan and the current market interest rate. outdoor space and over 8,400 SF of interior space. The apartment boasts breathtaking 360 degree views of the city, Central Park and the Hudson River. The apartment is being delivered raw, so the buyer has a blank canvas on which to design the home of his or her dreams. "When completed, this space will be one of the finest apartments in all of New York City," said Pamela Liebman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of The Corcoran Group. "Our buyer was attracted to AOL Time Warner Center for the unprecedented five-star lifestyle and the award-winning services and amenities of Mandarin Oriental. On a more macro level, our buyer is demonstrating a tremendous vote of confidence in the economy and in the New York City real estate market." "The combination of the Sunshine Group's relationships with premier developers and property owners and the Corcoran Group's role representing the very best of the New York City resale residential real estate market provided the kind of positive synergy that happens when you've got an NRT-scale network with the ability to match supply and demand for such luxury properties," said Bob Becker, president and chief executive officer of NRT NRT Nicotine Replacement Therapy NRT Norm-Referenced Test NRT near real time NRT Non-Real-Time NRT National Response Team NRT Tokyo, Japan - Narita (Airport Code) NRT Net Registered Tonnage . "I couldn't be more proud that now, The Corcoran Group possesses the distinction of having brokered the city's greatest single residential deal on record," said Liebman. |
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