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On the Market: Architect Quits His Own Creation in Tribeca

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When word spread that Mexican starchitect Enrique Norten was buying an apartment at One York?Canal Street's most luxurious condo building (which is kind of like saying it's the prettiest branch on the ugly tree, but still)?it was a heartwarming tale: on-the-rise architectural superstar grows attached to his first NYC building, makes it his local home. Kleenex out. Roll credits. Drive home safely. But wait! Looks like somebody's been playing fast and loose with our emotions. A Curbed tipster writes:

If you checked One York's website over the past few weeks, you would have seen apartment 5F, 5B and 3B "contract out" or "in contract." Today, they are not listed that way. Either three different parties backed out or could not obtain financing. Just when it was appearing that business was picking up... Apparently, already several apartments - including Enrique Norten's - are listed for re-sale in the building.
Norten fired his broker and hired another who put the apartment back on the market at a HIGHER listing price than the previous broker. Apparently, Norten is using the "Hamptons pricing strategy..." if it does not sell for $4 million, take it off the market and then re-list it for $5 million!
A shocker, but there's a bit more to this story. According to property records, a trust controlled by Norten and another party plunked down $1,929,000 million for the 2BR, 2BA, 1,424-square-foot unit in August '08. In March, it looks like Norten transferred control of the condo to his trustbuddy for $100,000 (eagle-eyed legalese translators, feel free to correct us). The apartment hit the re-sale market through Elliman a month later for $1.995 million, before being reduced to $1.8 million and pulled in May. Now, as our tipster noted, Norten's old York pattie is back on the market through Sotheby's, and the asking price is once again $1.995 million, or $1,400/sf. Not the craziest shenanigans we've seen at One York, but Enrique! Way to ruin our screenplay, buddy.
· Listing: 1 York Street [Sotheby's]
· One York coverage [Curbed]

One York

1 York Street, New York, NY 10013