The understated Lotus Club, just off Fifth Avenue, presented the perfect setting to discuss how the rich and well-known settle into New York City.
Surrounded by portraits of Mark Twain, Thomas Wolfe, and society matrons, the Epoch Times chatted with Denise LeFrak and Kathryn Livingston about the price tag for entry to the Big Apple's most exclusive apartment buildings.
The authors set out to answer a question posed by the third member of the trio, Eunice David: "Why did certain buildings seem so special—what was their unique cachet?"
When they began, the real estate market had slowed and they hurried to "get the book done before the real estate bubble burst." But the bubble never burst, and the authors realized once more how exciting the city was.
Ms. LeFrak and Ms. Livingston know their way around New York's moneyed elite. They found people who were willing to share interesting tidbits about the process of gaining entry to coveted co-ops. Who actually gets in to these exclusive residences speaks volumes about New York society, who's at the top and who wants to be but never will.
Coop boards use stiff criteria. Letters of recommendation, present address, a private club all count in one's favor. Boards examine how the applicant's interests fit with present tenants. It can be very subjective. A wealthy applicant of East Indian descent was turned down because some tenants wondered if the building "would smell like curry."
Contrary to expectations, these exclusive residences don't welcome movie stars, theater types, or celebrity fashion designers. Rather, they invite stars of Wall Street and very successful businessmen to apply.
Those who give to charity and support the arts garner extra points.
With his profession against him, designer Tommy Hilfiger gained entry by contributing $1 million to the Fresh Air Fund. He actually never occupied the space he purchased. Bono was accepted for his generosity.
The Time Warner building is the place to be today. It has the distinction of New York's most expensive apartment bought by a Mexican financier for $54 million. And that was just for the space. This earthly paradise offers five-star living where every amenity is available without stepping out the door.
Each building claims a special distinction—950 Fifth Avenue is "the absolute pinnacle of New York luxury living." Names such as Bronfman, Bass, and Payson own residences.
The authors cite River House as a stunning example of art deco architecture while the Chelsea gives the city a touch of Bohemia. Vanderbilts, Morgans, and Annenbergs once occupied the high society bastion of One Sutton Place.
One wonders why people would want to live in a crowded, noisy city. Ms. Livingston maintains, "because the city is so accepting." Especially after 9/11, New Yorkers became noticeably friendlier.
She must have referred to those who need workers, not the coop boards of the buildings in her book. "There are plenty of snooty coop boards all around town ready and willing to test the nerves, will and stamina of potential buyers."
With a sense of appreciation and just a little awe, this readable tell-all suggests that one needs more than money and fame to gain entry into premium living space in the Big Apple.
High Rise Low Down—Who's who and what's what in New York's most coveted apartment houses by Denise LeFrak Calicchio, Eunice David, and Kathryn Livingston (2007) is published by Barricade Books.
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