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.
Zeckendorf Development Company
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.
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.
The Ritz Carlton penthouse combo has just been shoved from its top spot as the city’s priciest listing and replaced by the triplex penthouse at Zeckendorf Development Co.’s 520 Park Avenue. At $130 million, it will become the most expensive to ever hit the market, beating out the Ritz pad by about $11 million. According to Bloomberg, the building’s sales plan was approved by the New York State attorney general’s office last week, and Zeckendorf is already calling the penthouse “the greatest apartment on the Upper East Side.”