Category Archives: New Developments

217 west 57 street NYC tallest residential building

217 west 57 street aka the Nordstrom tower of developer Extell has released some renderings. The building should be completed by 2018 and will rise to 1479 feet at the roof level and have a pinnacle height of 1775. Developer Extell was also responsible One57 which is located at 157 west 57 street and has for now set the record for most expensive sale of a Manhattan apartment at $100.47mm earlier this year. Several other properties are going up around Billionaire’s Row including 432 Park avenue, and 220 CPS.

See the renderings by clicking on the link below.

LINK

Manhattan real estate market stabilizes

Several reports are out that are pointing to the stabilization of the real estate market and increasing inventory. In the reports, larger coops on the Upper East side are staying longer on the market- sometimes 6,9 months or one year. At the entry levels, generally consider below $2 mm, inventory still remains tight and brokers are saying that there is still pent up demand.

Naftali Group's UWS condo which launched last year with prices starting at $4.9mm and didn't sell any units so pulled them off the market.
Naftali Group’s UWS condo which launched last year with prices starting at $4.9mm and didn’t sell any units so pulled them off the market.

With over 6000 units in the development pipeline or new to the market in 2015, it seems that all segments of the market will see some relief.

 

LINK

Affordable NYC luxury market heats up

200 East 94 street, 52nd and 8, 325 Lex…Several new buildings are catering to an underserved market. With prices for some of these buildings starting in the low’s 700’s or 800’s, Manhattan buyers have a chance to get a foothold in the market and in a building with luxury amenities like pools, roof decks and so on.

361 CPW- 96 street side of church where developer will add more windows. This is a church that will be converted to condos.
361 CPW- 96 street side of church where developer will add more windows. This is a church that will be converted to condos.
According to Streeteasy, this ground up condo has 18 contracts out with 10 available units. $825k to $8.25mm
According to Streeteasy, this ground up condo has 18 contracts out with 10 available units. $825k to $8.25mm

Continue reading Affordable NYC luxury market heats up

The Curved glass behind 50 West St and One57

Developers of high end property are looking for ways to push the edge and create a unique product to justify the high prices that their NYC new developments are asking. One way is to maximize views by using curved glass in a NYC condo. One57 on West 57 street aka Billionaire’s Row used it and now 50 West street uses it even more. 50 West is a 191 unit condo that is experiencing much success with 83 units already in contract ranging from 1.39million to just over $22mm for a penthouse according to Streeteasy.

50 West street rendering
50 West street rendering
50 West street in Manhattan's financial district has 83 contracts out according to Streeteasy
50 West street in Manhattan’s financial district has 83 contracts out according to Streeteasy

Continue reading The Curved glass behind 50 West St and One57

Some of the most expensive NYC apts slash prices while others try to break records

One57 where a record $100mm sale has set a new benchmark for residential real estate
One57 where a record $100mm sale has set a new benchmark for residential real estate

 

 

The NYDN is reporting that several of the most expensive apartments in Manhattan are cutting their prices including a penthouse in Tribeca where the price is being slashed from $40mm to under $30mm for a 7000+/- space. At the same time, while other units incuding one at The Pierre are also slashing their prices, other developers are taking aim at the $100mm record set this year by the sale of an apartment at One57 on Billionaire’s Row.

Those developers inlcude 550 Madison aka the Sony building condo conversion where an apartment will reportedly ask $150mm, 520 Park avenue which will have a penthouse asking $130mm and 220 CPS where its’ top asking price is rumored to be $175mm!

LINK

550Madison 

550 Madison aka The Sony Building will be converted to condos & it's PH will ask $150mm
550 Madison aka The Sony Building will be converted to condos & it’s PH will ask $150mm

261 W 25 street,NY,NY 10001 Construction update

The Seymour condo at 261 W 25 street will have 49 units almost all of which are in contract
The Seymour condo at 261 W 25 street will have 49 units almost all of which are in contract

According to Streeteasy there will be 49 units in this new construction condo on West 25 street and 47 of them are in contract. There are two remaining units- one priced at $3.195mm and the other at just under $4mm.

This building sold quickly as

The Seymour
The Seymour

a result of a good mix of smaller and larger units and at just under $2000 per sqft for this location, it’s not hard to see why it went so fast. The amenities include a resident’s lounge with fireplace, a garden, media room as well as a “quiet” library plus a roof deck with outdoor kitchen. The developer is the Naftali Group who is having a slighter hard time selling their Upper west side project at 261 W 77 street which they pulled off the market and will reboot shortly.

 

 

 

175 West 95 street NY,NY 10025 New developement spotlight

175 West 95th, a recently converted condo between Columbus and Amsterdam avenue on the Upper West side is off a very good start with sales. According to Streeteasy, this building has 24 contracts out and 12 available properties. They range from a studio for $630k to a 3bedroom for $2,020,000. The most expensive property in contract is a 2bd/2ba with balcony that was asking $1,555,000. It took 42 days to get into contract but many of the other apartments were spoken for after less than 1 week. Continue reading 175 West 95 street NY,NY 10025 New developement spotlight

Leonardo DiCaprio rents out 66 E 11 street pad for $25k/month

 

 

It is being reported by CurbedNY that Leonardo DiCaprio has rented out his 66 E 11 street in the Delos building which features built in juicing stations,

Rendering showing posture supporting floors. I am standing up straighter just looking at them.
Rendering showing posture supporting floors. I am standing up straighter just looking at them.

vitamin-C infused showers, posture supportive flooring and a kitchen herbarium among the many healthy living amenities. Continue reading Leonardo DiCaprio rents out 66 E 11 street pad for $25k/month

432 Park avenue Tallest residential building in NYC

Much has been made of the luxury movement currently underway in Manhattan and 432 Park avenue to be finished this year will be the tallest residential building in the Western Hemisphere at 1396 feet tall and 96 stories. It was topped out late last year and can be seen from not only other boroughs but from other states. It is reported that the penthouse is already spoken for at $95mm.  Continue reading 432 Park avenue Tallest residential building in NYC