It's time to make up a bunch of awards and hand them out to the most deserving people, places and things in the real estate, architecture, and neighborhood universes of New York City! Yep, it's time for the Seventh Annual Curbed Awards! Today's topic: real estate!
Shitshows of the Year
3) Rector Square. It was good of the tenants at the Battery Park City Hell Building to file their latest lawsuit just in time for inclusion in this list. Of course, with a bulk auction and a legal challenge from the attorney general already in its recent past, Rector Square was pretty much a shoo-in.
2) The Apthorp. Repeat shitshow offender The Apthorp moved to second place this year, largely because the units finally started selling. Of course, then there were dryer problems. And the entire sales team quit. Can't win 'em all.
1) Stuy Town. The battle for control of Stuy Town has raged on ever since Tishman Speyer and BlackRock turned the complex over to creditors in January. Since then we've been through all the cycles of Trump hope and Bill Ackman despair. Up next: co-op conversion! Or perhaps $4,000/month one-bedrooms.
Special Shitshow Lifetime Achievement Award
The shitshow competition is stiff, but one building shall rule them all: One Madison Park. The lawsuits kept on coming at the project this year, and there was that nasty little foreclosure moment. Soon one of the lawsuit defendants might walk away with the whole building, but that means he'll have to look forward to a future of backhanded compliments.
Five-Alarm Firesale of the Year, Presented By Fireblog
After a near foreclosure and other maladies, Williamsburg condo building Warehouse 11 returned to the market at drastically reduced prices, including some units priced around $450/sqft. Oil in the ground? Uninspiring Karl Fischer design? No matter, because money talks, and the 120 apartments sold like hot cakes.
PriceChopper Axe of Declining Rewards
3) Oh, poor 3 East 94th Street. Developer Aby Rosen picked it up in 2005 and gave it quite the renovation, complete with basement pool. But the new price of $29.5 million didn't find any buyers, and nor did the subsequent prices, which went all the way down to $19.9 million. The place finally found a buyer for $18.5 million, lowering Rosen's tally of sadly PriceChopped mansions to just one.
2) Our brains have given up trying to solve the puzzle that is 535 West End Avenue, but the whopping discounts of 25 to 45 percent at which its apartments have sold this year wins it a place in the top three.
1) For substantial choppage and touch of fame, the top spot goes to 778 Park Avenue, where the William F. Buckley maisonette just sold for only $8.5 million after originally asking $24.5 million. And then there's the Brooke Astor duplex upstairs, which was originally listed for $46 million and may be about to sell for around $20 million. No wonder the Upper East Side is fearing the apocalypse.
Foreclosures of the Year
3) 785 Eighth Avenue, where the matter isn't quite settled yet, but the skinny Hell's Kitchen tower is so horribly ugly that we had to include it. Foreclosure status: Feisty!
2) William Beaver House, where the fantasy of sexy Financial District resort-style living gave way to the reality of, uh, nobody buying the apartments. Foreclosure status: Friendly!
1) 25 N. Moore #3/4A, where rap mogul Damon Dash's ex-wife, designer Rachel Roy, briefly refused to vacate following a court-ordered sale. Please note, this was just one of Dash's two Tribeca foreclosure auctions this year. Foreclosure status: Fashionable!
The Sterling Cooper Draper Pryce Memorial Cup
Awarded to the commercial real estate deal that made us briefly care about commercial real estate.
Holy mother of AdWords, Google dropped $1.9 billion cash in Chelsea! Guess they're not too worried about Bing!
Thawed Developments of the Year
3) Harlem's most-stalled stack of condos, the Gateway complex, miraculously made progress. What got it going once again? The developer abandoned capitalism.
2) Downtown Brooklyn's be@Schermerhorn had to call it quits at 90% completion and refund buyers their deposits after major delays. A new developer took over, finished the building, cut prices by 25% and got that sucker sold. The name, however, is still bad.
1) Big metal poles signaled the end of what was once known as Hot Karl Beach, aka 95 Bedford Avenue. Above, what was finally revealed to be coming to the massive Williamsburg pit. Upgrade?
Adventures in Adventures in Marketing
The Knick's ad campaign becomes an unfortunate Photoshop contest. Unfortunate for the developers and brokers, that is.
Most Anticipated Building Opening of 2011
Frank Gehry's Beekman Tower spent the year building unprecedented buzz for a rental building, not that it needs it. The new tallest residential tower in New York City doesn't require a fight with Donald Trump or a name controversy to draw attention. This spring the 600 different floorplans and other mindboggling details will finally open for business, and then the comparisons to Inception and Gehry's manhood can end, and the judging of those bay windows can begin. Start hitting up your parents for cash now, young FiDi renters.
Hell's Prettiest Snowflakes
Awarded to the year's biggest shockers.
3) The Orchard Street Hell Building (above) manages to pull its shit together long enough to lure a tenant. Don't ask about the rest of it. Seriously, don't.
2) Our children's children probably won't even live long enough to see the complete Atlantic Yards, but after years of delays and lawsuits, the rise of the megaproject's Barclays Center is Brooklyn's most unbelievable sight. Sorry 'bout your house!
1) The redevelopment of the World Trade Center is actually, dare we say, on track, especially at 1 World Trade Center. Oops, was that a jinx?
Development of the Year
Now firmly entrenched as Downtown's answer to 15 Central Park West (and not just because they share an architect), the West Village's Superior Ink was talked about more than any other building not threatened with foreclosure, lawsuits and/or complete chaos. Nearly ever sale was news, whether it was a $31.5 million penthouse or a freebie, and the building is even generating some of the look-at-those-snoots coverage normally reserved for the gilded towers of Park Avenue. T'was a Superior year.
· All Curbed Awards 2010 posts [Curbed]