Residential towers are back in the spotlight with developer Harry Macklowe, pension giant TIAA-CREF and retailer Tommy Hilfiger among those making deals.
Macklowe, along with a London-based hedge fund, is in contract for the 21-story pre-war apartment building at 737 Park Ave. near 71st Street for $253 million, sources said.
Marketers Jones Lang LaSalle had said 70 percent of the 108-units were at market rate and a 5,000-square-foot penthouse with wraparound terraces was being delivered vacant. Macklowe will target a condominium conversion after he closes at the end of July.
Meanwhile, a newly constructed rental building, dubbed The Corner, at 200 W. 72nd St., was being marketed by CB Richard Ellisand is close to a contract to be sold by Gotham and Philips International to TIAA-CREF for $210 million, The Post has learned. It is expected to remain a rental.
Also yesterday, Tommy Hilfiger was in due diligence after contracting to buy the Clock Tower at 5 Madison Ave. from Africa-Israel for $170 million. “The deal may yet fall apart,” sources said.
The designer has wanted to develop a hotel property and told talk-show host Jimmy Fallon in 2009 it would be “sort of pop culture, where we could have live bands and a really cool spa. ”
Other residential buildings to hit the market are attracting plenty of interest. As the Post first reported, Cushman & Wakefield is wrapping up the marketing of luxury rental building 88 Leonard St. and is talking with bidders at about $220 million.
The Sagamore at 89th Street and Columbus Avenue was sold last Friday by the Related Cos. to a client of LaSalle Investments through Eastdil Secured for $140 million and will remain a rental.
The parties on all the deals either did not comment or did not return calls.
