We are getting ever closer to breaching the $100 million mark. The deal that broker brothers Oren and Tal Alexander of Douglas Elliman inked two weeks ago for 19 E. 64th St., in what will be the priciest deal on a townhouse in Manhattan history when it is finalized in April, hovers dangerously close a one with eight zeroes. (The townhouse will be the consulate for Qatar.) Breaking the $100 million barrier feels like a big step in NYC real estate history, and the guys who shaped it are no strangers to breaking records — they also hold the title in Miami for a $47 million property. (Good for Miami!) While his phone has been ringing off the hook all day, Oren Alexander spoke to The Post about the amazing transaction that he and his brother helped shape.
How did that deal come about?
We were working with the state [of Qatar] for quite some time. There wasn’t a house that fit their needs on the market, so we began searching off the market, and finally we called Carrie Chiang of Corcoran. Carrie said, “OK, I think I have a place for you.” It made the most sense for them. Most foreign buyers want a turnkey product, and in townhouses, there’s almost nothing that’s turnkey. Basically, this was the only product that fit for their use, because they’re going to use it for a consulate and they want it to have significant presence.
How did you arrive at that price?
Well, it was asking $125 million — so through negotiations, we were able to secure them a better price. But — even at $125 million — if you look at what’s on the market, it’s understandable. It has everything: 18-foot ceiling heights on the second floor, an elevator the size of a 9-by-8 room. The façade is not just typical limestone, almost like the limestone from the bottom of the ocean. It’s not just a great place to call home.
What makes a $100 million property?
First is location, and 64th between Fifth and Madison is the No. 1 street for townhouses in Manhattan — it’s the same street as Roman Abramovich bought [for $75 million] last year. Second is width [this house was 41 feet], which is the most important factor for a townhouse. No. 3 is quality of product — this house had a staff of 10 people manicuring that house forever. It was the first time it had ever traded hands. It was pristine.
You’ve seen some of the other properties in that price range in NYC — what are some of your favorites in this city?
I have a listing for $95 million at the Sherry-Netherland! Obviously, that’s one of my favorites. The only way someone will pay a price for that sum is it has to be turnkey. No one wants the headache, with a co-op you’ve got apply for permits and there are all these rules. Especially foreigners — who have strong buying power — don’t want to do that work. At the Pierre, there’s a great place [for $95 million], but it needs some work, that’s really the downside. At the Sherry-Netherland, it’s turnkey. I sold a house in Miami for $47 million — why? Turnkey. I was in there recently for lunch, they didn’t change a thing — that’s the key to the game today. Some of these new developments are $90 million-plus — but you have to wait. There’s not that instant gratification that we were able to deliver to the state of Qatar.
What about the rest of the world?
I’ve been to One Hyde Park [in London] and Opus in Hong Kong, I’ve seen the best in the world — and New York City is way ahead of any city in the world. I’ve been to London, Paris, Hong Kong, and especially when it comes to new development, New York leads the way. With this sale, we’re opening up the door for more sales at this price point. At Sherry, no one wanted to be that person to break that record.
Given that the $100 million club has been breached, what’s going to be the next crazy milestone?
I think there are townhouses in New York that are worth more than $100 million — it’s a question of whether the owner sells and the other person buys. I think $125 million will be next.
This is a townhouse, but not a residence . . . When will we see a house or apartment for $100 million that’s going to be straight up for private use?
I think at 220 Central Park South, it will get $100 million. As soon as they launch sales, it will happen — but it won’t be for a couple of months. I’m waiting for them to open up their doors so I can start selling.
19 E. 64th St. was never officially on the market . . . How does a savvy broker find out about the unlisted super-expensive listings if they’re not for sale?
It’s relationships — that’s really the key. I’ve done deals with Dolly Lenz, Carrie Chiang, Deborah Grubman, Kathy Sloane — every top broker, and to me, what’s most important is having a good relationship with the brokerage community.
To buy a $100 million house, what should you have in the bank?
I figure someone who buys $10 million should have at least $100 million — so you would need at least $1 billion in the bank, and $1 billion in bank means your net worth has to be over $5 billion, if you have 20 percent of your money in the bank.
Your Miami property for $47 million was also a record — when will Miami reach $100 million?
It’ll take another decade — but it will happen. The truth is, there are properties in Miami that can trade for more than what I sold, just that these people will never sell. It’s not a question of is there a product that is worth, it’s will these people ever sell? The Pierre is an incredible apartment, the Sherry is an incredible trophy apartment — but will they sell it?