Amazing views of New York come with a Dh281m price tag



Want to own a luxurious apartment offering unrivalled views over New York? Then you’d better move quickly.

The privately-owned developer Macklowe Properties had representatives in the UAE recently to drum up interest in the remaining units in its US$1.3 billion residential tower at 432 Park Avenue in the heart of Manhattan.

Designed by the architect Rafael Vinoly, the cube-shaped building will be the second-tallest in New York when it completes next summer, and the tallest residential tower in the western hemisphere, says Macklowe Properties’ executive vice president of sales and marketing, Richard Wallgren.

With 96 storeys, it will stand almost 427 metres in height, but the premium apartments at the top of the tower, which occupy entire floors, are almost all sold out already.

The one remaining unit is on the 88th floor and on the market for $76.5m.

With about 8,000 sq ft of space, the property has four bedrooms, a maid’s quarters, a formal dining room, a grand living room measuring 30ft by 45ft, a library with a wood-burning fireplace and a master-bedroom suite containing a sitting room space, plus two separate bathrooms and dressing rooms. There are seven bathrooms in total, a private lift landing, an eat-in kitchen, pantry, a wine cellar, a powder room and a utility room.

“The design is a very pure, classic modernist design,” says Mr Wallgren. It has been built as a square building, 93ft by 93ft, inspired by Manhattan’s grid structure.

With a floor-to-ceiling height of 12.5ft, even the windows are square – 10ft by 10ft and more than an inch thick. These had to be specially made at a St Gobain factory in Austria and shipped to Virginia for fabrication. Each side of the building has six of these, offering views over the Atlantic Ocean to the east, New Jersey and beyond to the west, Connecticut and Westchester County to the north and New York City to the south.

“You can see all of New York, whether it’s the Empire State Building, the Statue of Liberty, the Brooklyn Bridge, the United Nations building – it’s very dramatic. At night, with the twinkling lights, it’s spectacular.”

The Macklowe Properties founder Harry Macklowe bought the former Drake Hotel in 2006 and a group of neighbouring town houses on East 57th St before teaming up with the Californian property investor CIM Group to develop the project. Construction work started in 2012.

mfahy@thenational.ae

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Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

Points classification after Stage 4

1. Arnaud Demare (France / FDJ) 124

2. Marcel Kittel (Germany / Quick-Step) 81

3. Michael Matthews (Australia / Sunweb) 66

4. Andre Greipel (Germany / Lotto) 63

5. Alexander Kristoff (Norway / Katusha) 43

The struggle is on for active managers

David Einhorn closed out 2018 with his biggest annual loss ever for the 22-year-old Greenlight Capital.

The firm’s main hedge fund fell 9 per cent in December, extending this year’s decline to 34 percent, according to an investor update viewed by Bloomberg.

Greenlight posted some of the industry’s best returns in its early years, but has stumbled since losing more than 20 per cent in 2015.

Other value-investing managers have also struggled, as a decade of historically low interest rates and the rise of passive investing and quant trading pushed growth stocks past their inexpensive brethren. Three Bays Capital and SPO Partners & Co., which sought to make wagers on undervalued stocks, closed in 2018. Mr Einhorn has repeatedly expressed his frustration with the poor performance this year, while remaining steadfast in his commitment to value investing.

Greenlight, which posted gains only in May and October, underperformed both the broader market and its peers in 2018. The S&P 500 Index dropped 4.4 per cent, including dividends, while the HFRX Global Hedge Fund Index, an early indicator of industry performance, fell 7 per cent through December. 28.

At the start of the year, Greenlight managed $6.3 billion in assets, according to a regulatory filing. By May, the firm was down to $5.5bn. 

A general guide to how active you are:

Less than 5,000 steps - sedentary

5,000 - 9,999 steps - lightly active

10,000  - 12,500 steps - active

12,500+ - highly active

RESULT

Leeds United 1 Manchester City 1
Leeds:
 Rodrigo (59')
Man City: Sterling (17')

Man of the Match: Rodrigo Moreno (Leeds)

The figures behind the event

1) More than 300 in-house cleaning crew

2) 165 staff assigned to sanitise public areas throughout the show

3) 1,000+ social distancing stickers

4) 809 hand sanitiser dispensers placed throughout the venue

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

You Were Never Really Here

Director: Lynne Ramsay

Starring: Joaquim Phoenix, Ekaterina Samsonov

Four stars

Hotel Data Cloud profile

Date started: June 2016
Founders: Gregor Amon and Kevin Czok
Based: Dubai
Sector: Travel Tech
Size: 10 employees
Funding: $350,000 (Dh1.3 million)
Investors: five angel investors (undisclosed except for Amar Shubar)

The biog

Favourite book: Homegoing by Yaa Gyasi

Favourite holiday destination: Spain

Favourite film: Bohemian Rhapsody

Favourite place to visit in the UAE: The beach or Satwa

Children: Stepdaughter Tyler 27, daughter Quito 22 and son Dali 19

Three ways to limit your social media use

Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.

1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.

2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information. 

3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.

TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

What is dialysis?

Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.

It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.

There are two kinds of dialysis — haemodialysis and peritoneal.

In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.

In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.

It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.

8 traditional Jamaican dishes to try at Kingston 21

  1. Trench Town Rock: Jamaican-style curry goat served in a pastry basket with a carrot and potato garnish
  2. Rock Steady Jerk Chicken: chicken marinated for 24 hours and slow-cooked on the grill
  3. Mento Oxtail: flavoured oxtail stewed for five hours with herbs
  4. Ackee and salt fish: the national dish of Jamaica makes for a hearty breakfast
  5. Jamaican porridge: another breakfast favourite, can be made with peanut, cornmeal, banana and plantain
  6. Jamaican beef patty: a pastry with ground beef filling
  7. Hellshire Pon di Beach: Fresh fish with pickles
  8. Out of Many: traditional sweet potato pudding