50 United Nations Plaza Explained

50 United Nations Plaza
Location:Manhattan, New York City
Mapframe-Wikidata:yes
Coordinates:40.7517°N -73.9681°W
Start Date:2012
Completion Date:2015
Architect:Foster and Partners
Floor Count:44
Building Type:Residential
Developer:Zeckendorf family

50 United Nations Plaza is a residential condominium building in Manhattan, New York City.[1] The 44-story tower, designed by Norman Foster's architectural firm Foster and Partners, is the first residential high-rise building in the United States designed by Foster.[1] It is variously described as having 87 or 88 apartments.[1] [2]

History

The vacant lot was acquired by Zeckendorf Development for US$160 million in 2007.[3] On November 14, 2012, the Zeckendorf family announced the beginning of construction,[4] alongside Israeli billionaire investor Eyal Ofer as a partner.[5] [6] It was topped out during July 2013.[7]

Tenants

In April 2015, the government of Qatar acquired four apartments (19B, 33B, 27B, and Penthouse 35) for a combined total of US$45 million.[8] By July 2015, the penthouse, which has an outdoors swimming-pool, was listed on the real estate market for US$70 million.[9] [10]

In 2015, the New Zealand Ministry of Foreign Affairs and Trade purchased a unit at 50 UN Plaza for US$7.9 million (slightly under NZ$11 million) for its permanent representative to the UN. The real estate deal formally listed the purchaser as "her Majesty the Queen in right of New Zealand" because Queen Elizabeth II, as monarch, was New Zealand's head of state.[11] [12]

After previously leasing a penthouse at the Waldorf-Astoria hotel for its Ambassador to the United Nations, the United States government relocated the ambassadorial residence to 50 United Nations Plaza. The United States initially rented a 40th floor penthouse apartment, but later purchased a different penthouse on the 37th floor.[13] Nikki Haley was the first ambassador to reside in the 40th floor penthouse, which rented at US$58,000 per month. The 37th-floor, five-bedroom, six-and-a-half-bath penthouse was purchased in May 2019 for $15.85 million.[14] [15]

In November 2017, Neil and Mindy Grossman purchased unit 29A at 50 United Nations Plaza, for US$5.65 million.[16]

In 2019, the British Government acquired a 5,893-square-foot full-floor penthouse on the 38th floor of 50 United Nations Plaza, for the UK's trade commissioner for North America and consul general in New York, Antony Phillipson, for 12 million British pounds, or about US$15.8 million.[17] [18] [19] Zeckendorf Development said at the time that more than 80% of the building's units had been sold.[19] The British Foreign Office's purchase of the residence as a "grace and favour" home was criticized by some in Britain, as it came during a long period of austerity measures.[19]

In 2018, a three-bedroom unit in the building was offered for rent at US$19,000 a month.[20] In 2022, six apartments in the building were listed for rent, including the penthouse, which at the time was listed for $75,000 a month; a foreign tenant was in the process of leasing that unit.[21]

In 2020, the Consulate General of Kuwait purchased Penthouse 40 in the building for US$16.1 million.[22]

Notes and References

  1. Web site: Hughes . C. J. . Norman Foster Enjoys a New York Moment . The New York Times . July 25, 2014 . May 15, 2024.
  2. Web site: Satow . Julie . High-Rises to Replace an East Side Eyesore . The New York Times . August 1, 2013 . May 15, 2024.
  3. Web site: UN-Neighboring Stalled Site Is Getting Foster & Partners Tower . Sara. Polsky . November 6, 2012 . Curbed . October 21, 2015 .
  4. Web site: Norman Foster's New UN-Neighboring Tower Unveiled! . Sara . Polsky . November 14, 2012 . Curbed . October 21, 2015 .
  5. News: Presenting the Next 15 CPW: Zeckendorfs Unveil 50 UN Plaza, Norman Foster's First U.S. Apartment Building . Matt . Chaban . October 21, 2015. The New York Observer . November 13, 2012.
  6. News: Craig . Karmin . Developers Team Up With a Man Behind the Scenes . The Wall Street Journal . May 12, 2013 . October 21, 2015.
  7. Web site: Dailey . Jessica . 'Watergate' In Dumbo; 50 United Nations Plaza Tops Out . Curbed NY . July 11, 2013 . May 15, 2024.
  8. Web site: Qatar Executes $45M Takeover of 50 United Nations Plaza . Zoe. Rosenberg . April 9, 2015 . Curbed . October 21, 2015 .
  9. Web site: For $70M, a Penthouse With a Pool at 50 United Nations Plaza. Zoe. Rosenberg . July 24, 2015 . Curbed . October 21, 2015 .
  10. News: Big New York Penthouse With Private Pool Is Listing for $70 Million . Candace . Taylor . October 21, 2015. The Wall Street Journal . July 23, 2015.
  11. Web site: Moving to NY City is not on Queen's to do list . . July 6, 2015 . May 15, 2024.
  12. Web site: NZ government shells out $11m on New York apartment for UN representative . Vernon . Small . Stuff . May 15, 2024.
  13. Web site: Rebong. Kevin. 2019-06-10. U.S. Buys $16M Penthouse at Zeckendorf's 50 UN Plaza. 2020-08-24. The Real Deal New York. en-US.
  14. Web site: Marino . Vivian . Luxury Sales Spike as Buyers Rush to Avoid Higher Mansion Taxes . July 8, 2019 . July 8, 2019 . The New York Times.
  15. Web site: New York Deed. May 27, 2019. New York City Department of Finance. July 8, 2019.
  16. Web site: Marino . Vivian . A $38 Million Penthouse in West Chelsea was November’s Top Sale . The New York Times . December 1, 2017 . May 15, 2024.
  17. News: The $16m New York penthouse fit for a UK civil servant . Rupert . Neate . The Guardian . March 26, 2019 . April 1, 2019.
  18. Web site: Government buys £12m luxury New York apartment for diplomat . April 1, 2019 . March 27, 2019 . BBC News.
  19. Web site: Magra . Iliana . U.K. Defends Buying $16 Million New York Penthouse for Diplomat . The New York Times . March 27, 2019 . May 15, 2024.
  20. Web site: Hughes . C. J. . A Luxury Rental in Midtown From a Low-Key Landlord . The New York Times . October 11, 2018 . May 15, 2024.
  21. Web site: Marino . Vivian . Paying $40,000 a Month in Brooklyn, and Other Sky-High Rents . The New York Times . June 22, 2022 . May 15, 2024.
  22. Web site: Marino . Vivian . Two More Big Sales at 220 Central Park South . The New York Times . April 3, 2020 . May 15, 2024.