Real Estate

Real estate scion dishes on developing in NYC

The name Zeckendorf is synonymous with some of NYC’s most legendary real estate. It was William Zeckendorf Sr. who began purchasing land in the late 1940s on Manhattan’s eastern shore in the area that would eventually become the UN. In the 1950s, it was that same Zeckendorf who owned one of the most iconic of all New York skyscrapers, the Chrysler Building.
And it was William Zeckendorf’s grandsons, Arthur and William Lie Zeckendorf, who in 2008 built the most successful condo in New York City history, the Robert A. M. Stern-designed 15 Central Park West, whose residents have included everyone from Sting to A-Rod, and where Sandy Weill sold his apartment for a record $88 million in 2012.
The brothers (co-chairs of Terra Holdings) have a long history hiring iconic architects. Back in the late 1980s, they worked with another master, I.M. Pei, when they built the Four Seasons Hotel. And last year they introduced 18 Gramercy Park, with Stern again, where listings run above $4,000 per square foot.
Now they’re back in their grandfather’s old hood — Turtle Bay — with a ground-up condo, 50 UN Plaza, which is being designed by Foster + Partners (and which they’re developing with Eyal Ofer’s Global Holdings). The price for their new building’s triplex penthouse: $100 million.
William Zeckendorf spoke with NYP Home about his favorite landmarks, skepticism around malls in Manhattan and the most prized record in his vinyl collection.

Any great building has a great architect and we were lucky enough to work with I.M. Pei for the Four Seasons Hotel. He was a very special person and a remarkable architect. Now we’re working with Foster + Partners and we used Robert A.M. Stern on 15 Central Park West and 18 Gramercy. I’m ecstatic that we’ve had the best.

Will (right) and Arthur Zeckendorf.

Developers should pay more attention to lobbies; they could often be a lot more than they are — and I mean that for new, old, prewar and postwar buildings. Our lobbies tend to be architectural spaces rather than interior design spaces. The outside and interior need to relate very closely together.
In terms of classic NYC monuments, I love Grand Central Station — both the interior and exterior. And there are half a dozen limestone buildings on Park, Fifth and Madison. I love the whole of Central Park West — like the Majestic and the Dakota.
The Time Warner Center hit Columbus Circle just before 15 CPW. I was well aware of the site; in fact, my father had a plan for it at one point with architect Michael Graves. I personally wasn’t convinced that a shopping mall could work there — but it succeeded brilliantly. I was surprised. I love Per Se and I love Masa.
But, naturally, there are other restaurants and shops out there. Like everyone else in the world, I love the Four Seasons. It’s such a great architectural space — that’s another one that’s not about the decorating, it’s about the space.
Grand Central may be my favorite existing NYC monument, but my favorite will be Trygve Lie Plaza Park, named after my grandfather. The parks department is revamping it — it runs from 40th to 42nd Street.
Every new development has to have a good health club or spa. We’re all concerned with fitness and privacy is important. So it has to be part of a building. Right now, we’re contracted with Jay Wright of The Wright Fit. Isn’t the name cute?
Every developer needs some kind of collection — I personally collect vinyl records. My prize would have to be my sealed Beatles “Butcher” cover. Alan Livingston, the president of Capitol Records, released this compilation of “Yesterday and Today” in the mid-1960s. There are only a handful of copies in the entire world.
18 Gramercy Park