The quest to outdo One57’s record-setting $100.5 million penthouse doesn’t seem to be working. The two contenders, 220 Central Park South and 520 Park Avenue–both Robert A.M. Stern-designed buildings–announced their $250 and $130 million penthouses in 2016 and 2014 respectively, but there’s been no movement since. The latter building seems to have taken the hint, though, as The Real Deal reports that the 12,398-square-foot triplex has been chopped up into two “smaller” units–a $40 million full-floor unit and an $80-$100 million duplex.
520 Park Avenue
The city’s most important residential projects include a glittering showcase of superlatives that continue to eclipse all that came before, with claims that include tallest (Central Park Tower), skinniest (111 West 57th Street ), most expensive (a $250 million penthouse at 220 Central Park South) and loftiest outdoor lounge (Fifteen Hudson Yards) and pool (Brooklyn Point) almost being a requirement for selling the fabulously luxurious apartments and amenities that lie within. Though some of this year’s contenders appeared on previous years’ lists, their sales launches and toppings-out in 2018 proved that their arrivals on the city’s skyline–and among its residential options–are no less impactful than the anticipation that preceded them.
We’ve narrowed our picks down to a list of 12 headline-stealing residential structures for the year. Which do you think deserves 6sqft’s title of 2018 Building of the Year? To have your say, polls for our fourth annual competition will be open up until midnight on Wednesday, December 12th and we will announce the winner on the 13th.
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.
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.