A New York building set to become one of the biggest and most expensive homes in the United States is on the market for the first time in its 82-year history.
The Residence at River House, a former exclusive private members’ club, is being sold in its “existing condition” for US$130 million.
Located in Manhattan, the five-story building near the East River has housed the River House’s private club since 1931. However, according to The Wall Street Journal, it has been put on the market after attempts to negotiate a long-term lease renewal or sale proved unsuccessful.
The building comes with a proposed renovation plan by the interior designer Tony Ingrao that capitalises on the “palatial scale” of the property.
“The Residence is being offered in its existing condition, enabling the purchaser to create what will truly be one of the grandest urban residences in the world,” says the website of Brown Harris Stevens, which is marketing the mansion in conjunction with Christie’s International Real Estate.
“In the proposed renovation plan designed by Tony Ingrao it would comprise over 62,000 square feet on five levels. It is the most important private residential property in New York City history to come to market,” adds Brown Harris Stevens. Under the plans, guests will gain access from a private entrance from East 52nd Street into a large “living” level.
A 27,500 sq ft garden and leisure level will include a swimming pool, tennis court, an Imax screening room and spa, while a 15,000 sq ft bedroom level features a master suite along with his and her baths, dressing rooms and wardrobes.
There is also a staff level with nearly 6,000 sq ft of work areas, bedrooms and lounges.
It includes a total of 30 rooms, eight bedrooms and 10 bathrooms.
Don’t have the $130m to hand? A 100 per cent mortgage over 30 years at a 5 per cent interest rate will cost you $697,868.10 a month.
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
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"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.
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It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
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