Earlier this month, the Wall Street Journal profiled broker-turned-developer Michael Shvo and revealed his development company SHVO now has more than $4 billion dollars worth of projects in the works for the city. While many are still in planning stages and have yet to be released to the public, construction is moving ahead on a trio of condominium developments along Manhattan’s western spine — the Getty, 125 Greenwich Street, and 565 Broome SoHo (as a development partner). While varied in neighborhood and scale, they all enlist high-caliber architects and will bring Shvo’s characteristic high level of attention to detail and “pursuit of perfection.”
Teaming up with the Moshe Shuster-led Victor Group, Shvo snagged a prime West Chelsea corner site at Tenth Avenue and 24th Street for $23.5 million in 2014, or more than $850 per square foot, then a record for the area. Overlooking the High Line and a few blocks south of Hudson Yards, the 5,500-square-foot lot previously held a Getty gas station (hence its name) and is hugged by Della Valle Bernheimer‘s stainless steel condominium 245 Tenth Avenue.
With Peter Marino at the helm (“the leather daddy of luxury”), Shvo envisioned a game-changing development that would “combine art, luxury residential, design and architecture,” as he told WSJ in 2013. “It is not just walls and a kitchen and a bathroom, it is about creating a true luxury brand, at once authentic, unique and self-defining when encountered.” The building will be Peter Marino’s largest in the city and renderings depict an exterior resembling a grey-scaled Mondrian or an abstracted birds-eye view of Manhattan traffic. Two lines of balconies are seamlessly integrated into the quilted facade, and even the rooftop mechanical bulkhead is encased with the geometrical patterning.
With art-collecting buyers in mind, the design of the interiors are inspired by the district’s eclectic art scene. the decidedly boutique affair will house a nary eight residences spread across the building’s 47,000 square feet of floor area. There will be a fitness center and residential storage in the sub-cellar, and the cellar through second level will host commercial gallery spaces along with the residential lobby. Two duplex apartments are to occupy the third and fourth floors, five full-floor homes on floors 5-9, and the 10th and 11th floors will be home to a sole two-level penthouse with a rooftop terrace. West-facing balconies and windows will have views of the High Line and beyond to the Hudson River.
For future sales and listings at The Getty, visit CityRealty.
125 Greenwich Street
22 Thames Street / 78 Trinity Place
Residential Condominium | 273 Units
Rafael Viñoly Architects
SHVO | New Valley | Bizzi + Partners Development
Completion expected in 2018
Shvo’s largest project to date will be a lithe 88-story condo at 125 Greenwich Street designed by Argentinian-born architect Rafael Viñoly. Developed in consortium with New Valley and Bizzi + Partners Development, the nearly 1,000-foot supertall will be an elegant addition to the celebrated lower Manhattan skyline. Proposed to house 273 high-end condominiums and three floors of amenities, the Douglas Elliman-led sales team is opening the marketing center later this year at nearby One World Trade Center, giving potential buyers a sense of the panoramic views many of the units will offer. Earlier this month, the teaser site debuted, announcing that residences will feature customizable interiors and that sales will commence this fall. Foundation work is still slowly moving forward and the tower is slated to open early 2018.
Prices for the residences have yet to be released, but units will range from a 400-square-foot studio to a 3,625-square-foot three-bedroom. According to data from CityRealty, closed condo sale prices hit a record high last month with a price per square foot of $1,897, and the median asking price for the 266 condos standing at $1,895,000 or $1,722 per square foot.
Earlier this month at NYCxDESIGN, Brooklyn–based Snarkitecture built a model of 125 Greenwich Street and the adjacent WTC towers with the surrounding cityscape represented as an undulating landscape of white fiberglass rods.
For future listings at 125 Greenwich Street Street, visit Cityrealty.
565 Broome SoHo
30 stories | 290 feet
Residential Condominium | 115 Units
Renzo Piano Building Workshop
SHVO | Bizzi & Partners Development |Halpern Real Estate Ventures | Aronov Development
Completion expected in 2017
One of downtown’s most anticipated developments, 565 Broome SoHo is being pushed ahead by Bizzi & Partners Development, Halpern Real Estate Ventures, Aronov Development and SHVO. The two-winged tower is being design by Pritzker Prize-winning architect Renzo Piano and is distinguished by its transparency, softly rounded corners, a private porte-cochère, and a skylit lobby featuring a small grove of birch trees.
Now financed, ground and excavation work are in full swing at the block-front site between Broome and Watts Streets. The ground floor will provide a number of retail spaces and residents of the building’s collection of homes will be bathed in perks that include a fitness center, swimming pool, tenants’ storage, a porte cochere, and automated parking. Mid to upper levels will have impressive views over low-rise Soho and Tribeca towards the Hudson River. The development recently launched a teaser site bearing a new rendering. Mention of Shvo’s names is mysteriously absent from the site.
*Update: Shvo is not a developer on 565 Broome SoHo, he is a “participating partner.”
For future listings at 565 Broome Street, visit CityRealty.
- Checking in on Downtown’s Next Supertall, 125 Greenwich Street by Rafael Viñoly Architects
- New Views Inside and Out of Renzo Piano’s First New York Residential Building
- Skyline Wars: In Lower Manhattan, A New Downtown Is Emerging
Tags : 125 Greenwich Street, 22 Thames Street, 259 Tenth Avenue, 565 Broome SoHo, 78 Trinity Place, Bernheimer Architecture, Bizzi & Partners Development, Della Valle Bernheimer, Getty Condominium, Michael Shvo, Moshe Shuster, Peter Marino, Rafael Vinoly, Shvo, Snarkitecture, Supertalls, The Getty, Victor Homes