The 38-story luxury rental building RiverTower, at 420 E. 54th St., has just been brought to market and is expected to fetch around $400 million.
The building was developed in 1982 by Harry Macklowe as the epitome of luxurious city living — thanks to its stretched hexagonal shape. Most of its sprawling 322 units have either East River or skyline views. We hear that Macklowe’s wife, Linda, also insisted on large closets and that the couple resided there until they moved to The Plaza.
Sam Zell’s Equity Residential bought it from Macklowe in 2010 for $181.5 million or $565,000 per unit, as part of a three-building package.
Equity has now hired investment brokers Darcy Stacom and Bill Shanahan at CBRE to market the unique building, which has impeccable services including 24-hour doormen, a concierge, wine cellar and other amenities.
According to Street Easy, there are 14 available rentals averaging $5,882 per month. Two multi-bedroom high-floor units are on the market for more than $10,000 a month. One has four baths and a nanny bedroom.
Sources said the next owner could reimagine the plaza plantings and common areas and continue Equity’s program of upgrading vacant units with condo finishes toward capturing those top-dollar market rents.
Spokespersons for the brokers and Equity did not return requests for comment.
Now that the Nordstrom Tower is humming along, Nordstrom Rack has targeted space in its nave.
Sources say Rack is contemplating the retail space in the base of 3 Columbus Circle — the reskinned office tower where Y&R has its headquarters — as there are almost 40,000 square feet available on the ground, second and lower levels being offered through Winick Realty Group, which declined comment.
But there is a snag. The Rack desires the prime southeast corner of the building, which would mean booting the Bank of America branch.
Meanwhile, the Rack has also checked out spots along West 34th Street, including the Empire State Realty Trust’s 112 W. 34th St.
A spokeswoman for Nordstrom did not return messages prior to press time.
