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Newsday from New York, New York • 83

Publication:
Newsdayi
Location:
New York, New York
Issue Date:
Page:
83
Extracted Article Text (OCR)

a iv fc 1 IrVA 'i -V V--1. i Ji-V- 4 a xi A bedroom and living room, both with expansive views of the Island, at the North Shore Towers complex near the Nassau-Queens border sold, mostly to area residents who are trading up. "Thats in only two months with no advertising," added Cannon, and at plus a $66,000 premium for being near the pond fronts always did cost more). For your money, you get between 3,300 and 4,000 square feet of living space, a two-ear garage featuring automatic doors, a state-of-the-art security system, tennis courts and a pool. This $40-million project, which was built on a 35-acre estate, retains spruce trees that were saved from the bulldozers blade.

You say the spot you wanted at Spruce Fond is gone? i Then head out to Cold Spring Hills to see developer Gary Melius1 handiwork at the Otto Kahn mansion. He is offering what may be a unique amenity a chance to create whatever type of condominium you desire within the sions two-and-a-half acres of interior space. The two-bedroom model apartment, due to open in the middle of the month, and a second, winch will be Melius1 own, are the only two units that have been laid out. The rest will be mU to order. Besides room service, a billiard room, a 75-foot lap pool and formal gardens common to all, other amenities in the $850,000 model include rosewood kitchen cabinets, opening skylights and a marble -bathtub with a 10-foot-high waterfall.

By restoring the mansion to its original state, Tm selling a lifestyle where you can live just like Kahn," said Melius, "only sharing the expenses." Yearly maintenance fees are expected to be $30,000, with occupancy starting in September. What? You need something sooner? Then motor out to The Tower at Montauk, a luxury building illustrating how important it is to know the mar- -ket. In 1984, developer Dale Hemmerdinger spent $100,000 advertising his eight-story building in Manhattan papers. Models were decorated in New York sophisticated. Five thousand people came through, but by years end no one had bought.

"We thought the market would be Manhattan, but we were wrong," said Hemmerdinger. Instead, his buyers turned out to be people who had vacationed in the area, liked it and now wanted a summer home here. They also didnt want empty units. So, in 1985, each condo was completely furnished. After spending only $5,000 in local advertising, 80 percent of the building sold.

Two of the two-bedroom units, one one-bedroom condo and the $800,000 penthouse are all that remain. Still undecided where to move, but think you have it narrowed down between this $5-million duplex at Metropolitan Tower and the $935,000, 3-bedroom at 60 East 88th? Well, take your tim to think it all out, but "Buy that condominium now," advised Hank Sopher. In five years, these unite will cost a whole lot more, on Joe Catalano ie a free-lance writer. Looking Ahead to Luxury I 8 In the "can you top this" world of luxury condominiums, many wonder what amenities can pos- 'be left to offer. will be big In the future are the things that made people nappy In the past," said Steven Rockmore, one of the principals of Gilbert Charles Bey Ion.

This Manhattan-based firm helps developers plan buildings for which It later becomes the selling agent Purchasers of luxury tend to be older, and come from homes or smaller apartments. What they're after Is space and the service of days gone by, said Rockmore. Since few people can afford to keep a staff, residents win be pooi-the building's maids, elevator operators and Ing the at their views through floor-to-ceiling windows," Rockmore noted. "Long corridors leading up to apartments are also becoming passe. People want a sense of Intimacy and exclusivity." There win be fewer, but larger, apartments on each floor, with the elevator opening right In front of the unit's doors.

Rockmore also sees a return to rosewood and teak flooring as well as ceiling moldings. "They give a sense of the quality connected with the past. People also love staircases with long sweeping banisters, two-story living rooms and 20-foot ceilings," he said. "At the moment, many luxury buildings are trying to make up for what's not in the apartment with health spas and doormen. But as purchasers become more aware, what wiH become more important will be the interior Itself.

"We've come a long way from the two-bedroom apartment being the same two-bedroom apartment on every floor. More and more people want a sense of their own unique space." Joe Catalano valets. "In the prime locations, more space will be the big thing, but space that is functional and meaningful. Foyers are coming back. So are formal dining rooms and libraries," he said.

Luxutyrus bathrooms with views are also becoming Important among status-seekers. They want natural Bght "to be able to soak In their tub and stare out At North Shore Towers, which is going co-op, management expects the scenery to attract a wide variety of people.

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Pages Available:
2,783,803
Years Available:
1977-2024