THE venerable Century Club at 7 W. 43rd St. is negotiating to sell most of its air rights to Aby Rosen, who intends to build a new tower on Fifth Avenue.
We’ve learned that the membership, now led by author Sidney Offit, voted to enter into discussions with Rosen for such a sale, which could eventually include all but about 10 percent of the club’s transferable air rights.
Rosen, club personnel and Offit did not return calls for comment.
Rosen’s RFR Holdings already owns the three townhouse-style buildings at 516, 518 and 520 Fifth Ave. on the northwest corner of 43rd St. The eastern side of the Century Club abuts those properties.
In fact, in 1979, the then-owners of 518 Fifth Ave. and the Club were locked in a legal battle over 518’s protruding staircase. The two sides ultimately settled.
With a land area of 100 feet-by-100 feet, the Century Club could have well over 100,000 feet of air rights to sell.
There are no height restrictions on Rosen’s plot, which deed records show spans about 85 feet by 125 feet.
The recently constructed boutique office building diagonally across the avenue at 505 Fifth Ave. is about 90 percent leased, but has commanded healthy asking rents of more than $90 a foot.
Paul Glickman of Cushman & Wakefield, who represents 505, said, “Another boutique office building in the Grand Central market would be well-received.”
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La Premiere, the 31-story rental building at 230 W. 55th St., on the southwest corner of Broadway, was just sold to Harry Gross last week for $130 million.
Built in 1979, about 95 percent of the apartments are free market and its nearly 200,000 feet is built to full capacity.
But apparently Gross is now debating whether to take the rental building and convert it or construct an even larger hotel when combined with a plot he owns just to the south.
Douglas Harmon of Eastdil Secured handled the marketing for La Premiere, which was sold by the warring Goodstein brothers.
Harmon recently marketed the Bertelsmann office condominium for Jamestown that is in contract to Steve Witkoff for $509 million. It’s right across 55th St. and topped by the Parc Imperial condo.
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Prayers were answered for the Redeemer Church on the Upper West Side, which is now in contract to buy the garage at 150 W. 83rd St. from Leonard Zigelbaum of Ezey Parking Systems for $21.5 million.
As it turns out Zigelbaum may have had a few prayers answered as well. The church intends to retrofit the 37,900 foot garage – which sold for $567 a foot – and create a new community center.
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The Young Mens/Womens Real Estate Association announced its new officers yesterday at a luncheon at the University Club. The new chairman is Sloane W. Rhulen of CB Richard Ellis, while vice chairman is Bill Montana of Studley.
Paul Mulinec of GVA Williams is secretary, Brandl Frey of Cushman & Wakefield becomes treasurer.
The three new governors are Danielle Zimbaro of C&W, David Green of Vornado Realty Trust and Paul Amrich of CBRE. Membership will be handled by Robert Fink of Equity Office Properties.
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As we reported last week, Paris-based Christian LaCroix leased a 2,700 foot two story flagship at 36 E. 57th St. That’s where Oxxford had a store until they were bought out and moved to 717 Fifth Ave.
“It glitzes up the street a little bit more,” said Murray Hill Properties’ broker Alyne Model, laughing because the area between Park and Madison avenues is filled with luxury jewelers and fashion tenants and is opposite the Four Seasons Hotel.
Model, Rob Nager and Bruce Goodman of MHP represented both the owner, Sol Goldman Investments, and the tenant.
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