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Top related persons:
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Search resuls for: "Macklowe"


8 mentions found


☆ An art market full of cracks is about to face a $1 billion test
  + stars: | 2024-05-10 | by ( Robert Frank | ) www.cnbc.com   time to read: +4 min
Art auction sales at Christie's, Sotheby's and Phillips over the next two weeks are expected to total $1.2 billion, down 18% from a year ago and nearly half the total for the May 2022 sales, according to ArtTactic. It extends a recent decline for the art market from its post-Covid peak, when cheap money, a booming stock market and fiscal stimulus saw record sales. It's the buyers showing up and what the work will sell for that will define our perception of the art market right now. Price pressuresDealers and art experts say the auction art market is stalled over price, with sellers not willing to get a lower price than they might have gotten at the peak of the market in 2021-2022. "The question they're asking is, 'Should we buy in to the art market right now?'"
Persons: Robert Frank, Phillips, Paul Allen, Brooke Lampley, Buyers, Sellers, Philip Hoffman, CNBC's Robert Frank, Andy Warhol, Jean, Michel Basquiat, Crystal Lau, Andrew Fabricant, It's, Hoffman, Francis Bacon's, George Dyer, Bacon, Dyer, Michel Basquiat's Organizations: Sotheby's, Fine Art Group, CNBC Dealers, CNBC Locations: —, Gagosian
☆ The value of office buildings is sinking – but turning 'zombie' offices into apartments is harder than you think. Here's why.
  + stars: | 2023-07-14 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +4 min
About $800 billion may be wiped off the value of offices in major cities this decade, per McKinsey. Converting New York offices into residences is possible but has its challenges, Bloomberg reported. Buildings in the financial district are only eligible if they were built before 1977, while it's 1961 for Midtown structures, Chilelli told Bloomberg. Structural issues must also be considered, Chilelli told Bloomberg. Repurposing a structure can as much as double the price per square foot for a building, Chilelli said.
Persons: Joey Chilelli, Chilelli, Eric Adams —, Maria Torres, Springer, Michael Cohen, Jeff Bezos, Mukesh Ambani, Mukesh Ambani's, Danish Siddiqui, Lilla Smith, Macklowe Organizations: McKinsey, Bloomberg, Service, Vanbarton Group, Williams, Flatiron, Danish, Irving Trust Company, Sixth Locations: New York, Wall, Silicon, Midtown, Manhattan, Mumbai, Lower Manhattan, York
☆ Blackstone, the massive private-equity firm, just wants to be your friendly, neighborhood lender
  + stars: | 2023-05-25 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +5 min
Your friendly neighborhood lender, BlackstoneWhat's the first thing that pops into your head when you think of a regional bank? Nouriel Roubini, the famed economist known as "Dr. Doom" isn't too optimistic about the future of regional banks. Never one to miss a chance to make money, Blackstone CEO Stephen Schwarzman said his firm can "fill the void" left by regional banks tightening up their lending activity. Regional banks happen to be one of the biggest lenders in commercial real estate. Doom' is feeling bearish on regional banks.
☆ These million-dollar luxury condos used to be the storied offices of a big Wall Street bank. See inside the transformation.
  + stars: | 2023-03-12 | by ( Jordan Pandy | ) www.businessinsider.com   time to read: +2 min
Developer Macklowe Properties converted a Financial District office building into a condominium. The 1.25 million-square-foot tower is the largest office-to-residential conversion in New York City. The New York landmark was completely reconfigured inside, including removing 30 elevators. Developer Macklowe Properties took on the challenge of creating 566 luxury residences while maintaining the original Art Deco aesthetic of the 1.25 million-square-foot building. Once most of the inside was gutted, it made for a clean canvas for Smith to reconstruct office space to residential, she said.
☆ Hard Rock Co-Founder Pays Around $35 Million for Macklowe Gallery Founders’ Hamptons Home
  + stars: | 2023-01-25 | by ( E.B. Solomont | ) www.wsj.com   time to read: 1 min
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. The East Hampton, N.Y., home of art-and-antique dealers Barbara and Lloyd Macklowe has sold for around $35 million to their neighbor, Hard Rock Cafe co-founder Peter Morton, according to people familiar with the deal.
☆ Microsoft cofounder Paul Allen's art collection just fetched a record $1.5 billion at auction, and there's still more on the block — take a look at some of the best paintings
  + stars: | 2022-11-10 | by ( Sarah Jackson | ) www.businessinsider.com   time to read: 1 min
The auction began November 9, when 60 pieces from the collection fetched a combined total of $1,506,386,000, setting the record for the priciest private collection sale of all time. The record previously belonged to New York property developer Harry Macklowe and his ex-wife, Linda, when their collection fetched $922 million in May.
☆ Microsoft co-founder Paul Allen's art collection tops $1.5 billion at auction
  + stars: | 2022-11-10 | by ( Robert Frank | ) www.cnbc.com   time to read: +2 min
Christie's sold 60 works from the Paul G. Allen Collection for over $1.5 billion Wednesday night, as wealthy collectors around the world shrugged off economic and crypto worries to invest in trophy artworks. Several works sold for three or four times their estimates, with several artists setting new records at auction, including Vincent van Gogh, Edward Steichen and Gustav Klimt. The sales total of $1.506 billion shattered the previous record for the most expensive collection ever auctioned, set by the Harry and Linda Macklowe collection auctioned at Sotheby's for $922 million. The sales total for the Allen collection will soar even higher Thursday morning, when another 95 lots head to auction. The collection of Paul Allen, the late co-founder of Microsoft, was a treasure trove of masterpieces spanning 500 years.
☆ An auction of 60 works from the late Microsoft co-founder Paul Allen's art collection smashes records by raising $1.5 billion
  + stars: | 2022-11-10 | by ( Stephanie Stacey | ) www.businessinsider.com   time to read: +3 min
An auction of late Microsoft co-founder Paul Allen's art collection raised just over $1.5 billion. The Christie's auction has set a new record as the biggest art sale in history. The most expensive work was Georges Seurat's "Les Poseuses, Ensemble (Petite version)", which fetched $149.2 million. This painting, which depicts three nude women, is considered a pioneering work of Seurat's signature style of Pointillism. A total of five pieces went for more than $100 million each at the auction in New York on Wednesday night.
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