520 Park Avenue, well on its way to being the tallest skyscraper on the Upper East Side, is putting its final crowning members in place, CityRealty reports. The developer of the 54-story tower just off Park Avenue at East 60th Street is the multi-generational Zeckendorf real estate dynasty who brought us 50 U.N. Plaza, 15 Central Park West and the neighborhood-transforming Worldwide Plaza and Union Square’s Zeckendorf Towers.
520 Park Avenue
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.
Image by CityRealty
There has been plenty of heated discussion over the city’s latest supertall towers such as 432 Park Avenue, 111 West 57th Street, and 225 West 57th Street; they block light, alter the skyline and cast long shadows, for example. To add fuel to the fire, Crain’s reports today on a recent discovery in developers’ attempts to construct the tallest towers possible–with views above 700 feet that not only stretch south over Manhattan, but reach to the open Atlantic Ocean 14 miles in the distance.
Currently, regulations govern how many square feet of livable space can be built on a development plot, which limits the height to which residential towers can rise. But rather than squandering those square feet on lower, less-in-demand floors, developers are vertically expanding the mechanical spaces used in their buildings–which don’t count toward the square footage allotment. This allows them to start their apartments higher up, essentially “putting a skyscraper on stilts.”
While it seems like every block in the city is host to a construction site throwing up some luxury condo building or pricey rentals, not all of these developments are created equal. Following up on their last infographic which rounded up the city’s top five most expensive new developments, the data gurus over at CityRealty have culled an even more extensive list which pinpoints the 12 priciest structures going up right now. While the number of zeros that follow their combined $20,000,000,000 sellout will make your head hurt, what’s even more mind-boggling is that these 12 buildings alone will count for nearly HALF of the money that’ll be generated by the 200+ condo projects underway in Manhattan.
Two years since its groundbreaking, Zeckendorf Development’s tower o’ opulence at 520 Park Avenue has finally emerged from its cavernous trench. Set for completion in 2018, the Billionaires’ Row building will climb 54 floors and 780 feet into the Manhattan skyline, becoming the tallest and likely the most prestigious building on the Upper East Side.
Envisioned by William Lie and Arthur Zeckendorf, 520 Park Avenue inherits the classically-inspired taste of the real estate dynasty’s prior projects. In the ’80s, their father William Zeckendorf Jr. erected some of the city’s largest post-modern apartment complexes such as Worldwide Plaza, Zeckendorf Towers, and the Park Belvedere. Here, the developers commissioned the esteemed architect/historian and dean of the Yale School of Architecture Robert A.M. Stern as the designer and SLCE as the architects of record. This team also collaborated together on 18 Gramercy Park South and 15 Central Park West, which shattered apartment records when it opened in 2008. Intent on replicating its west side counterpart’s success, the Zeckendorfs again gathered the now-not-so-secret ingredients: a powerful address, palatial apartments, and most importantly, the coveted Central Park view, all of which will culminate in a jaw-dropping $130 million penthouse.
- Take a video tour inside the Beekman as it undergoes restoration and conversion into a boutique hotel. [Architect’s Newspaper]
- An anti-Extell rally took place this morning to contest the very tall tower going up right by the Manhattan Bridge. [Bowery Boogie]
- No surprises here: Aby Rosen and preservationists are at odds over the renovations proposed for the Four Seasons in the Seagram Building. [WSJ]
- 520 Park’s $70 million penthouse hits the market alongside several other pricey units in the building. [CityRealty]
- The tall towers of FiDi. [TRD]
- A look at the rentals rising right next door to the 123-year-old Cathedral of St. John the Divine. [Curbed]
Images: The Beekman (L); 520 Park Avenue (R)
Developers of 520 Park Avenue have revealed apartment prices for all units in the building, which is poised to become one of the city’s most expensive condominium towers and include a $130 million penthouse. The building, which will rise in the high-priced corridor flanking Central Park that has been dubbed “Billionaire’s Row,” is expected to gross $1.2 billion in apartment sales, according to initial offering prices detailed in documents filed with the Attorney General’s office.
The $1.2 billion in total sales—which will make the building one of the most expensive in Manhattan history—is all the more impressive considering that current plans call for only 31 units, most of which will be full-floor residences.
It’s that time of year when we take a look back at the biggest stories of the year and look ahead at what’s to come. And if 2014 was the year of the ultra-luxury listing, 2015 shows no sign of cooling down.
This past year saw major increases from 2013, with $16.8 billion in residential sales, over 17 percent of which was accounted for by purchases over $10 million. Plus, the top 25 sales of the year all closed for over $25 million. News of big sales at One57 will likely continue, with 520 Park Avenue vying for the title of most-talked-about building. We’ll also start hearing more from 30 Park Place, 432 Park Avenue, and the Woolworth Residences. To help you visualize all of these high-rolling record setters and predictions, the folks at CityRealty have put together some handy charts and infographics.
There is no shortage of towers on the rise in Manhattan, but amongst these glass and stone beauties are a handful that stand head and shoulders (and several hundred feet) above the rest. A red hot real estate market and cutting edge building technology have paved the way for towers of both unprecedented heights and prices. But worthy of equal credit are the visionary developers and architects who dare to change the NYC skyline.
Here we’ve handpicked 12 of the most newsworthy buildings of 2014; these towers boast groundbreaking designs and record-breaking (or soon to be record-breaking) prices. But we ask you: Out of the dozen, which deserves the title “Building of the Year?” Cast a vote above to help us decide which is 2014’s most important tower!
Extended by popular demand… Voting ends
TODAY, December 12th at 11:59 PM WEDNESDAY, December 17th at 11:59 PM and we’ll reveal the winner on Friday, December 19th. And if you’re still torn between two (or all), jump ahead for the low-down on each, from height to 2014 news highlights.
Robert A.M. Stern‘s 520 Park Avenue has already been called “the next 15 Central Park West,” and like its Stern predecessor, 520 is an ultra-luxury development with a stately façade wrapped in stone. Set to be completed in 2016, it will rise 51 stories high, but contain just 31 units, one of which is the $130 million penthouse, the city’s most expensive apartment. And though most of the attention has been on “the greatest apartment on the Upper East Side,” the fanfare has now shifted to the first batch of interior renderings for the building.
520 Park’s full website is now live, and not surprisingly, the residences have classic layouts, impressive Central Park views, and a host of high-end amenities.