Summit Notebook

Exclusive outtakes from industry leaders

Bob Toll’s Mad Mad Adventure

February 20, 2008

toll.jpgBob Toll is moving on down to the Madison Square Park area of Manhattan, one of the favored new sources of real estate gossip in the Big Apple.
    
The Toll Brothers CEO met with us at the Reuters Housing Summit and said he was in contract to buy a condo at One Madison Park, an uber-luxury development promising a five-star restaurant, an entire floor of exclusive spa features and a private screening room built with the help of “a Hollywood powerhouse.” 
    
Toll already owns three homes, one of them on Manhattan’s Upper East Side, and has a fourth locked in a trust for the kids.
    
We’re moving to a different neighborhood, having been in one neighborhood for 28 years. Time to try another neighborhood, he said.
    
The 60-story tower has kept the gossip columns and housing blogs atwitter for months over its amenities and celebrity buyers like Naomi Watts and Liev Schreiber. Not to mention an average price of $2,300 per square foot. 
    
But the interest also comes from the name, One Madison Park, since the actual address One Madison Ave is already known to Manhattanites as the golden-capped clock-tower building that graces the city’s skyline.
    
To add to the excitement, Israeli developer Yitzhak Tshuva and his Elad Properties (of Plaza Hotel fame) is apparently planning a residential project around the clock-tower building, the one called One Madison Ave. Daniel Libeskind will design.   

 We were a little confused too, so we asked him to clarify.
    
We’re going down to Madison Park, down to that area, he said. No, not the clock tower. One Mad.

Got that?
(Photo: Reuters)

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