Can private clubs bring New York workers back to the office?
The return to office has been slow and uneven, but some New York developers of high-end buildings are hoping elite private clubs can lure workers back, Forbes reports. ”The future of workspace design is about creating a destination,” Tom Vecchione, principal at the architecture and interior design firm Vocon, said to Forbes. “We can see the line between traditional workplaces and classic residential development blurring. The design for work needs to include wellness and that hospitality or a home-away-from-home feel.” To that end, some landlords are thinking outside the cube. One Willoughby Square in Brooklyn includes amenities such as a coffee lounge, outdoor balcony, banquette seating, covered outdoor space and a custom bar. Meanwhile, the Lever House in midtown Manhattan boasts the Lever Club, an exclusive, 15,000-square-foot private club that has a members-only lounge, restaurant and conference space. Lever, designed by architecture firm Marmol Radziner, is a selling point to companies and their high-level executives, Callie Haines, executive vice president and head of New York for the office business of Brookfield Properties, told the outlet. The landmarked 550 Madison has a full-floor private club — with a billiards room and dining table, along with a library — for office tenants and their employees, the outlet reported. The space once housed AT&T’s headquarters. New York has no shortage of private clubs, including one that will essentially serve as a co-working space for the wealthy. In August, Edmond Safra and restaurateur Juan Santa Cruz announced they are taking the 37th floor of Boston Properties’ GM Building for its private club, Colette. Shares in the club will cost $125,000 — though members can resell their shares — with annual dues of $36,000, with membership capped at 300. In November, a portion of the Jane Hotel at 113 Jane Street in the West Village was converted into a private club. The ballroom was turned into a members-only restaurant, under the SVB banner, while the rooftop bar became an outdoor lounge. — Ted Glanzer
Mansion listed for $25M sets South Jersey record
A 40,000-square-foot uncompleted mansion in Cinnaminson, N.J., has hit the market with the highest-known asking price for a home in South Jersey. The 40,000-square-foot home has been under construction for five years and is 90 percent complete, the Philadelphia Inquirer reported. Real estate professionals say the $24.95 million asking price is believed to be the highest-ever for a residential property in the southern half of the Garden State. Carlton and Orsula Knowlton, formerly of Tabula Rasa HealthCare Inc., are the sellers. Kevin Steiger with Kurfiss Sotheby’s International Realty is the listing agent for the seven-bedroom home at 2801 Riverton Road in the town located across the Delaware River from Philadelphia. The home sits on more than 7 acres and has 10 bathrooms, a courtyard with a reflecting pool, a sports-themed bar, six fireplaces and an indoor swimming pool. There’s also a movie theater, wine cellar, vehicle elevator and chapel in the home. The primary suite has a sitting area, dual walk-in closets and a spa bathroom that’s equipped with a tube elevator that goes down to the indoor pool and fitness area. The home drew the criticism of local residents when a 200-year-old farmhouse was torn down to make way for the massive mansion. Steiger said “there will definitely not be open houses,” and that interested buyers will have to show proof of ability to purchase before seeing it in person. “The number of people who could afford a property like this are the 1 percent of the 1 percent.” A home in North Jersey recently sold for a city record. At the end of November, the home at 55 Mercer Street in Jersey City sold for $4.4 million, the highest price for a single-family home in the city. The previous record holder was 124 Sussex Street, which sold for $4.15 million.
Retired NBA star Michael Redd sells home for record $4.5M
Retired NBA star Michael Redd may have recently sold his Ohio mansion for a record-setting price, but the deal may not have been a complete slam dunk. Redd sold his 10,200-square-foot mansion in New Albany, a suburb of Columbus, for $4.5 million, which tied a record for the area, but was still $1.5 million less than its original listing, Mansion Global reported. The name of the buyer, a resident of the area, was not disclosed. The listing agent, Alan Hinson of New Albany Realty, told the outlet that the mansion, which sits on a 4.4-acre lot, was originally listed for $6 million in September. An adjacent, buildable lot listed for $1.5 million is still on the market. The luxe home, which was finished in 2009, has five bedrooms, a gym, elevator, massage room and, of course, an indoor basketball court. The grounds include a pond, a pool, an outdoor kitchen, golf area, playground and garage. Redd, a shooting guard who grew up in Ohio and attended Ohio State University, averaged 19 points and 3.8 rebounds in his 12-year career — 11 with the Milwaukee Bucks and one with the Phoenix Suns. He retired in 2012 after having made one all-star team as well as winning an Olympic gold medal as a member of the famed U.S. Redeem Team in 2008. Since his retirement, Redd has run an investment firm and has written several books. Redd, his wife Achea, and two children lived in the house part of the year until his retirement in 2013. Since then, the family has been living in the home full-time. The Redds decided to sell the home to be closer to their kids’ school, which is about a half-hour away, the outlet reported. Redd isn’t the only Ohio-based athlete to be active in the real estate market. Scandal-ridden Cleveland Browns quarterback Deshaun Watson recently purchased a $5.4 million mansion in Hunting Valley. — Ted Glanzer
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