Outside of 432 Park Avenue, Mayor de Blasio held a press conference on Thursday to discuss his mansion tax. The proposal calls for a 2.5 percent surcharge on sales of city homes valued at $2 million or more, which would in turn fund affordable housing for 25,000 senior citizens. De Blasio fittingly positioned himself outside 432 Park because, according to the city, if the proposed tax had been passed, this residence alone would have generated $30.2 million since 2015 in support of housing for low-income seniors. “And that would have been based–and this is stunning to me–on the sale of just 62 condominiums. But it would have meant enough money to subsidize affordable housing for 2,000 seniors,” he said.
432 park avenue
If you’ve been as curious as we have to know what the inside of 432 Park looks like IRL, look no further than unit #52C, now for sale by owner. LLNYC spotted the listing today which boldly ditches professionally staged photos for somewhat sloppy phone snapshots of the interiors. As the mag points out, 432’s developers have been keen on putting the luxury tower’s best foot forward, revealing only sleek renderings or retouched images of impeccably outfitted model units to press and onlookers.
For new developments, 2015 was the year of reveals, but 2016 was all about watching these buildings reshape our city. Ahead we’ve narrowed a list of 12 news-making residential structures, each noted for their distinctive design, blockbuster prices, or their game-changing potential on the skyline or NYC neighborhoods.
Which of these you think deserves 6sqft’s title of 2016 Building of the Year? Have your say below. Polls for our third annual competition will be open up until 11:59 p.m., Sunday, December 11th*, and we will announce the winner on Tuesday, December 13th!
432 Park Avenue may be the tallest residential building in the western hemisphere and home to the most expensive apartment closing this year, but throughout 2016, the tower’s ultra-luxury condos were selling at an average discount of 10 percent, according to an analysis by appraiser Miller Samuel Inc. for Bloomberg. And a recent transaction saw an even greater price cut; Lewis Sanders, founder and CEO of Sanders Capital and former CEO of AllianceBernstein, bought an 88th floor penthouse for $60.9 million, 20 percent less than its $76.5 asking price.
Just in case you had trouble spotting the Western Hemisphere’s tallest residential tower, beginning Monday, 432 Park Avenue will debut a brand new lighting feature that will turn the 1,396-foot supertall into a glowing beacon. As LLNYC reports, 32 LEDs will fill the tower’s five open-air “drum floors” where the building’s mechanicals are situated. 432 Park‘s starchitect, Rafael Viñoly, worked with HDLC Architectural Lighting Design to develop the scheme.
Even after countless big ticket closings at blockbuster buildings like 432 Park Avenue and The Greenwich Lane, the long-admired Robert A.M. Stern-designed, Zeckendorf-developed 15 Central Park West (15 CPW) remains king. According to CityRealty’s latest CR100 report—an index comprised of the top 100 condominium buildings in Manhattan—units in 15 CPW sold on average for $6,735 per square foot over 12 months, a number that is impressively higher than the index average of $2,824. Tribeca’s Herzog & de Meuron-designed “Jenga tower,” 56 Leonard also made its debut on the latest CR100, clocking an average price per square foot of $2,657.
The most expensive apartment closing in New York City this year and one of the priciest sales ever is finally a done deal, reports The Real Deal. The apartment, the top penthouse at Rafael Viñoly-designed billionaire’s bunker 432 Park Avenue, is the priciest unit in the big-ticket building as well as being literally the city’s highest. As 6sqft previously reported, the buyer is Saudi retail magnate Fawaz Al Hokair. The sale price was $87.7 million—a skyscraping $10,623 per square foot.
Earlier today, 6sqft brought you flashy new renderings of the amenity spaces at 432 Park Avenue. The reveal came with a link to the official building website, which has a section offering jaw-dropping photos that showcase the views from the 1,396-foot tower, the tallest residential building in the Western Hemisphere. As the site notes, they span from the Hudson River to the East River, from Westchester to Brooklyn, and from Central Park to the Atlantic Ocean.
To date, 46 of the 106 residences at 432 Park Avenue, the tallest residential building in the Western Hemisphere, have sold. And perhaps in an attempt to sweaten the deal for those remaining, which now includes rentals, the sales team has released renderings of the swanky amenity spaces, also designed by the building’s starchitect Rafael Viñoly. In addition to views of the indoor swimming pool, billiards room and library, fitness center, massage treatment room, and movie theater, the press release brings fresh details on the restaurant, which will be open only to residents and their guests.
Gray silhouettes from left to right: Shanghai World Financial Center, CTF Finance Centre, One WTC, Lotte World Tower, Mecca Royal Clock Tower, Shanghai Tower, Burj Khalifa. Click link here to enlarge >>
As the Skyscraper Museum so aptly writes, “Tall and BIG are not the same thing.”
Echoing 6sqft’s recent post on global supertalls, the infographic above illustrates how when the height of New York’s tallest towers are stacked up against the sky-high constructions abroad (and 1 WTC), our city’s skyscrapers truly are “runts on the world’s stage.” The image also reveals that not only do these towers lack significantly in height, but also in girth. This means what really makes the design of all of New York’s new skyscrapers so unique is not how tall they are, but rather, how slender they are.