The five-story, limestone-clad building at 980 Madison Avenue that occupies the west blockfront between 76th and 77th Streets may be replaced by a residential condominium tower designed by Sir Norman Foster for RFR Holdings, Inc.
Sources in the real estate industry told CityRealty.com yesterday they were aware that such a plan was afoot, but did not know any specific details.
RFR Holdings Inc., acquired the building in late 2004 for about $120 million from the Peter Sharp Foundation, which last year also sold its interest in the 249-room Carlyle Hotel across the avenue to Maritz, Wolff & Company, an investment group that owns a major interest in Rosewood Hotels and Resorts, which operates the hotel, for about $130 million.
An article by Lois Weiss in yesterday's edition of The New York Post noted that Foster is designing an office building at 200 Greenwich Street at Ground Zero and "is planning two towers for RFR Holdings - one at 610 Lexington and 53rd Street by the Seagram Building, and the other on the old Sotheby's building at 77th Street and Madison Avenue."
The latter building is 980 Madison Avenue and is known as the Carlyle Galleries Building, whose tenants include the Gagosian Gallery and the East Side office of Prudential Douglas Elliman, the real estate firm. It was built in 1950 as the Parke-Bernet Building and designed by Walker & Poor and is notable for a large sculpture over the entrance by Wheeler Williams. The building, which is in the Upper East Side Historic District, was expanded in 1987.
Parke-Bernet was the leading art auction house in the United States and was later acquired by Sotheby's.
In their fine book, "The A.I.A. Guide to New York City, Fourth Edition" (Three Rivers Press, 2000), Elliot Willensky and Norval White observed that "Unfortunately, Parke-Bernet's 'house' is an insipid box unrelated to any cultural values."
Despite such criticism, the building was the elegant backdrop for many years for the brilliant auctioneering of John Marion, widely considered the best auctioneer of the 20th Century. For many years, French & Co., one of the city's most prestigious art dealers, also had quarters in the building.
In an October 28, 2001 article in The New York Times, Christopher Gray noted that the 40-story Carlyle Hotel on 76th Street and adjoining 14-story apartment building on 77th Street comprised "the signature project of Moses Ginsberg," who had built the impressive apartment building at 133 East 80th Street in 1929. The following year he began construction of the hotel to designs by Sylvan Bien and Harry M. Prince.
Mr. Ginsberg subsequently lost the Madison Avenue blockfront in the early days of the Depression and it was acquired by Robert Dowling who, Mr. Gray wrote, "put up the old Parke-Bernet building across the street?to protect the Carlyle's west light."
Since its construction, the hotel has been the most prominent skyline landmark above 61st Street on the Upper East Side west of Third Avenue.
A new tower, whose design would have to be approved by the Landmarks Preservation Commission, would likely partially obstruct many views of the Carlyle Hotel from Central Park as well as many views to the south from the Mark Hotel, directly across 77th Street from 980 Madison Avenue and shown to the right of 980 Madison Avenue in the accompanying photograph. The Alexico Group recently acquired the Mark Hotel to convert it to residential condominiums.
Foster is one of the world's most famous architects and is known for his high-tech designs, which include the Hearst Tower now nearing completion on the southwest corner of Eighth Avenue and 57th Street.
One of the principals of RFR Holdings is Aby J. Rosen, an active art collector whose other properties include two of the most famous post-war buildings in the city: the Seagram Building and Lever House, both on Park Avenue in midtown.
Sources in the real estate industry told CityRealty.com yesterday they were aware that such a plan was afoot, but did not know any specific details.
RFR Holdings Inc., acquired the building in late 2004 for about $120 million from the Peter Sharp Foundation, which last year also sold its interest in the 249-room Carlyle Hotel across the avenue to Maritz, Wolff & Company, an investment group that owns a major interest in Rosewood Hotels and Resorts, which operates the hotel, for about $130 million.
An article by Lois Weiss in yesterday's edition of The New York Post noted that Foster is designing an office building at 200 Greenwich Street at Ground Zero and "is planning two towers for RFR Holdings - one at 610 Lexington and 53rd Street by the Seagram Building, and the other on the old Sotheby's building at 77th Street and Madison Avenue."
The latter building is 980 Madison Avenue and is known as the Carlyle Galleries Building, whose tenants include the Gagosian Gallery and the East Side office of Prudential Douglas Elliman, the real estate firm. It was built in 1950 as the Parke-Bernet Building and designed by Walker & Poor and is notable for a large sculpture over the entrance by Wheeler Williams. The building, which is in the Upper East Side Historic District, was expanded in 1987.
Parke-Bernet was the leading art auction house in the United States and was later acquired by Sotheby's.
In their fine book, "The A.I.A. Guide to New York City, Fourth Edition" (Three Rivers Press, 2000), Elliot Willensky and Norval White observed that "Unfortunately, Parke-Bernet's 'house' is an insipid box unrelated to any cultural values."
Despite such criticism, the building was the elegant backdrop for many years for the brilliant auctioneering of John Marion, widely considered the best auctioneer of the 20th Century. For many years, French & Co., one of the city's most prestigious art dealers, also had quarters in the building.
In an October 28, 2001 article in The New York Times, Christopher Gray noted that the 40-story Carlyle Hotel on 76th Street and adjoining 14-story apartment building on 77th Street comprised "the signature project of Moses Ginsberg," who had built the impressive apartment building at 133 East 80th Street in 1929. The following year he began construction of the hotel to designs by Sylvan Bien and Harry M. Prince.
Mr. Ginsberg subsequently lost the Madison Avenue blockfront in the early days of the Depression and it was acquired by Robert Dowling who, Mr. Gray wrote, "put up the old Parke-Bernet building across the street?to protect the Carlyle's west light."
Since its construction, the hotel has been the most prominent skyline landmark above 61st Street on the Upper East Side west of Third Avenue.
A new tower, whose design would have to be approved by the Landmarks Preservation Commission, would likely partially obstruct many views of the Carlyle Hotel from Central Park as well as many views to the south from the Mark Hotel, directly across 77th Street from 980 Madison Avenue and shown to the right of 980 Madison Avenue in the accompanying photograph. The Alexico Group recently acquired the Mark Hotel to convert it to residential condominiums.
Foster is one of the world's most famous architects and is known for his high-tech designs, which include the Hearst Tower now nearing completion on the southwest corner of Eighth Avenue and 57th Street.
One of the principals of RFR Holdings is Aby J. Rosen, an active art collector whose other properties include two of the most famous post-war buildings in the city: the Seagram Building and Lever House, both on Park Avenue in midtown.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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