L to R: 212 Fifth Avenue; The Whitman; 10 Madison Square West
Prices in Nomad shot up a whopping 43 percent over the past five years, according to a new index from CityRealty, a marked increase that the developers of 212 Fifth Avenue may have been aware of when they put a $68.5 million price tag on their building’s triplex. If the sprawling apartment sells for anywhere near its asking price, it will set a record as the most expensive sale in the neighborhood, where other new developments have already raised the ceiling on the area’s sale records.
More Nomad data ahead
It’s projected that over the next five years, new development sales in Manhattan condos will total $27.6-$33.6+ billion, but this sky-high figure is heavily skewed by prices in just five buildings. These luxury towers will account for one-third of the total projection. Three of the buildings — 432 Park, 220 Central Park South, and 550 Madison Avenue (the former Sony Building) — are located on billionaires’ row and are expected to bring in a whopping $8 billion. The Greenwich Lane and 10 Madison Square West will also likely bring in close to $1.5 billion each. Along with this boost from the upper end of the market comes a trend where fewer units are selling, but prices are shooting up.
More info and CityRealty’s full infographic here
, Thu, September 18, 2014
Decisions, decisions…sometimes there’s just far too many in New York City. Thai or Chinese takeout? Subway or bus? Central Park or the High Line? The list goes on. And one of the most grueling decisions we make as New Yorkers is where to live. From choosing a borough and neighborhood to deciding on a price point, it’s quite the undertaking. But what about the most elementary component of the building in which we decide to live–it’s material. To be more exact, glass or stone.
Glass tower dwellers are often drawn to the floor-to-ceiling windows, panoramic views, and clean lines, whereas buyers of apartments in stone buildings prefer a more traditional feel, with pre-war-style layouts that provide great separation of spaces. And some of the city’s most prominent architects have become synonymous with one style or the other. Think Richard Meier for glass and Robert A.M. Stern for stone. CityRealty decided to take a closer look at this epic battle and see how pairs of glass and stone developments fared across the city.
See how these buildings battle it out