Inside: Central Park Tower Rises on Billionaire's Row

The 57th Street corridor in Manhattan became synonymous with Billionaire’s Row when One57 pushed prices received for condos to new limits at the time. Since One57 rose to new heights above Midtown Manhattan, a new wave of construction has been occurring along West 57th Street. New supertall towers coming to Billionaire’s Row include 220 Central Park South, 111 West 57th Street, and 217 West 57th Street, or Central Park Tower. The latter is sure to push the boundaries of “Billionaire’s Row” to new limits with exclusive and pricey pads that are unrivaled by other projects.

Central Park Tower, from the same developers as One57 – Extell, will rise high above 57th Street and literally tower over Central Park as it climbs 1,550 feet tall. The building, designed by Adrian Smith and Gordon Gill Architects will surpass nearby neighbor 111 West 57th Street in height as well as 432 Park Avenue. Central Park Tower is expected to be completed in 2019, and construction progress suggests that it is on track for a 2019 completion.

The base of the building will be home to a 7-level flagship Nordstrom store as well as other office and amenity space for the condos above. The current plan for the building shows 183 residences which will start from the cantilever up. Of the units, the largest on the plan is the uppermost penthouse which is currently configured as a triplex on floors 129-131 spanning 17,000 square feet.

In an ultra-luxury market that has slowed since the peak of One57 in 2014, Central Park Tower aims to once again push the limit for Manhattan real estate. The exclusiveness of the property as well as the location and trophy apartment offerings, Central Park Tower is attracting the world’s elite. 20 units are expected to have asking prices of $60M+ and price per square foot throughout the building will be $7,000+.

Of the units listed in the offering plan filed with the New York Attorney General, the smallest is a studio asking $1.542M ranging to the most expensive listed on the plan, Unit 53. Unti 53 spans over 7,900 square feet with a private terrace complete with an outdoor pool asking $95M. The largest units of the building still appear to be held based on the offering plan filed.

Interiors are sleek and luxurious as expected. The signature "Extell Choice" will be available with a selection of light or dark wood kitchen as well as brass. Additionally, buyers have the choice of either a light or dark bathroom finish as well. 

The amenities will be as luxurious and lust worthy as the apartments themselves. Most notably, perched on the 100th floor will be grand ballroom with a bar, cigar bar, and private dining – imagine those views! The Michelin Star restaurant will have seasonal farm-to-table style menu. Other amenities within the Central Park Club include a resident’s lounge, conference room, and play area. The 16th floor will include an indoor pool, and there will also be an outdoor, landscaped terrace with a 60-foot pool. Both pools will be salt water while the outdoor cabanas will offer butler service.

Questions or interest in the ultra-exclusive new development? The Victoria Shtainer Team has exclusive access to the Central Park Tower sales gallery and additional information. Please contact us to schedule your appointment or to request additional information.

Header Image Courtesy of Central Park Tower

The Best of Park Place

In the game of Monopoly, Park Place has one of the highest mortgage rates and rent rates in the game, and is also one of the hardest spots to land on. It is thus coveted to be on Park Place. In Lower Manhattan, we have our own Park Place that is making a name for itself as a destination for some of downtown’s best luxury living. Famous architects from Robert A.M. Stern to Jean Nouvel are putting their mark on Park Place. Here is the best of Park Place:

 Woolworth Tower Residences – 2 Park Place          

 Situated at the gateway to Tribeca by City Hall Park, the Woolworth Tower has been an icon of the downtown skyline since its completion in 1913. The building was originally commissioned by retail titan Frank Woolworth, and has had a storied history. French architect Thierry Despont, known for his restoration skills, is transforming the top 30 floors into a boutique collection of 33 luxury residences. Additionally, the top of the tower will feature a crown jewel of all of the city – a 7 story penthouse that is rumored to be asking $100M+. In his transformation, Despont is paying great attention to detail and homage to the building's landmark status and heritage as well as its Beaux-Arts design, visible from the small "W" detailing in the kitchen to the intricate residential lobby entrance.

Via Curbed

The homes feature gracious layouts with high ceilings as well as features such as eat-in kitchens and luxurious master baths sheathed in Calacatta Prima marble. Views from the residences of the skyline and beautiful terra cotta ornamentation are stunning!

Via Curbed

The building also offers an impressive collection of amenities, starting with the beautifully restored lobby with coffered ceilings on 2 Park Place. Amenity offerings include a 50-foot lap pool, fitness center with sweeping North and East views, wine storage, wine-tasting room, and a private residents’ lounge.

Current availability starts with a 1 bed/1.5 bath asking $4.575M.

Four Seasons Private Residences Downtown – 30 Park Place

 30 Park Place, the first private residences by the Four Seasons in New York, has had an overwhelmingly positive reception since its launch. The building is positioned conveniently in the heart of downtown Manhattan, moments from The Oculus, TriBeCa, and SoHo. 

30 Park Place is a Silverstein Property designed by Robert A.M. Stern architects and is currently the tallest residential tower in lower Manhattan standing at 937 feet. The building is home to 157 luxury residences.

Via 30 Park Place

Residences feature a warm feel, a recognizable feature of many of Stern’s homes. Because residences start on high floors, many offer multiple exposures with wonderful views of downtown. Finishes include solid white oak cabinetry, Colorado White Marble, and Bianco Dolomite marble in master baths.

Via 30 Park Place

Because this is the Four Seasons Private Residences, residents of 30 Park Place enjoy a suite of amenities and offerings that offer an unparalleled luxury living experience. Residents can enjoy access to hotel amenities such as the indoor lap pool, in-residence dining from Wolfgang Puck's CUT, and car service. 

It is also rumored that big names are calling the building home including Yolanda Hadid.

Current availability starts with a 1 bed/1.5 bath offered at $2.995M

45 Park Place

Developer Sharif El-Gama has assembled a world class team to establish 45 Park Place as an internationally recognized addition to lower Manhattan’s skyline. Pierre Lissoni, Michel Abboud, and Jean Nouvel have partnered to each lend their unique perspective to various elements of this new modern masterpiece.

45 Park Place will be home to an exclusive collection of 50 homes with the base of the tower dedicated to loft-like homes while upper floors have full-floor residences with stunning 360-degree city views. 2 duplex penthouses will be the crown of the building that will feature custom sculptural staircases, an iconic touch from Lissoni.

Via 45 Park Place

Luxurious finishes, selected by Lissoni, can be found throughout the residences. These include things like integrated Gaggeneau appliances, full height lacquered cabinetry, and Italian limestone. Kitchens are designed by Italian custom manufacturer, Boffi, while master baths and powder rooms feature custom pieces from MOMA Design.

Via 45 Park Place

Amenities have also been designed and curated by Pierre Lissoni and encompass 3 levels. Amenities will include a pool, spa, gym, yoga studio, as well as a residents’ lounge and children’s playspace.

Current availability starting with 2 Bed/2.5 bath offered at $3,800,000.

Interested in experiencing the Best of Park Place? Contact us to arrange your property tours.

Game Changer: Waterline Square Coming to the Upper West Side

Slightly north of Hudson Yards, along the West Side of Manhattan, a new community is being built adjacent to the Hudson River called Waterline Square. This new mega-project by GID Development will be located between 59th and 60th Streets on the cusp of the Upper West Side, and will be home to, among other things, three Starchitect-designed residential towers. We have written about the importance of Starchitects before, and with 3 iconic architects designing a project together, we anticipate Waterline Square to be a big game changer in the area! Waterline Square will be a complete waterfront community complete with residential living, amenities, and retail.

The 3 residential towers will be positioned around a new 2.6-acre park. This lush park will feature cascading water features, a flowering meadow, and a fully equipped children’s playground. This new outdoor space will really be the anchor of the overall project. Residences of the towers will begin on floor 20 above, and all buildings will have access to The Waterline Club, a state of the art facility that will contain over 100,000 square feet of amenities.

One Waterline Square

One Waterline Square is designed by Pritzker Prize winner Richard Meier and will take up an entire city block with a coveted waterfront location. Residences of One Waterline Square will be graced with high ceilings, large banks of window offering homes amble light, and handpicked materials throughout.

Champalimaud Design has been tasked with designing the interiors of One Waterline. The design studio has concepted some of the most luxurious interiors around the world from private residences to hotels. Kitchens will be done in the finest materials while master baths will feature book-matched marble slabs.

In addition to the Waterline Club, residents will have access to a private suite of amenities for the tower also designed by Champalimaud.

Two Waterline Square

With a design accentuated by a series of ascending, set-back terraces atop the building, Two Waterline makes a striking statement at Waterline Square. Designed by John Pedersen Fox, who is known for glass towers that punctuate skyline, this building makes no exception to this rule. The base of the building will be home to a porte-cochere to welcome residents home.

Yabu Pushelberg will be spearheading interior design at Two Waterline Square. The firm has over 35 years of experience designing interiors throughout the world. For this project, homes are designed around the floor-to-ceiling windows that allow the homes to take advantage of the building’s waterfront setting. Yabu Pushelberg has selected natural materials to use throughout such as kitchens done in chic and modern white marble with warm wood accents and white lacquer cabinets.

Three Waterline Square

The architect behind 432 Park Avenue, a building that captivated the world, is bring a design to Waterline Square. His building, Three Waterline, will be characterized by a diamond crown design atop the building. Residences are characterized by corners and gently sloping exterior walls that aim to capitalize on views in every direction.

The building will face directly onto the newly built park at the base, offering residents a Park arrival into the stunning lobby.

Groves & Co. will be leading interior design at Three Waterline, bringing a sleek and timeless sophistication to the homes. Residences will feature open kitchens with warm wood selections and elegant stone, with that elegant stone carried throughout bathrooms.

The building will also have a suite of private amenities designed by Groves & Co.

Amenities – The Waterline Square

Amenities have been a big differentiator among luxury properties in New York, especially in a competitive New Development market. The offering at Waterline Square will take amenities to a level we have not seen before. In fact, the list is much too lengthy to even list everything out!

The Waterline Club will be the home to amenities, a 100,000 square foot facilities with a grand hall at the center, and specific spaces for sports, fitness, social, swim, spa, creative, children’s, and pets. Waterline Square will also be home to the first ever combined food hall, market, restaurant, and bar experience by Cipriani.

Some of the Club amenities will include:

·      Full court basketball

·      25 meter, 3 lane lap pool

·      steam rooms

·      First indoor tennis court appended to a condo

·      Bowling Alley

·      Art Studio

·      Indoor Gardening room

·      Dog Washing Station

·      Children’s playroom & party room

Prices start around $2M with a 20-year tax abatement anticipated. If you are interested in this project or other new developments, contact us for more info and your private tour.

Images Via: Waterline Square

Raphael Viñoly Designed Tower Rises in NoMad

In the middle of 5th Avenue, between the historic and classic upper 5th avenue and vibrant downtown, is a vibrant neighborhood of its own – NoMad. This area, “North of Madison Square Park, or NoMad, has become home to some of the newest shops, luxury hotels, and restaurants. Some regard NoMad as the intersection of the East and West Sides as well as of Uptown and Downtown.

At this crossroads, a new residential tower by world acclaimed architect Raphael Vinoly is rising to a height of 55 stories. Vinoly captured New York and the world’s attention with his slender Midtown tower, 432 Park Avenue.

His NoMad tower, 277 5th Avenue, will be one of the most notable residential buildings to come to the vibrant neighborhood. Vinoly his bringing his signature design to the tower which will have a sleek and tailored exterior with the façade composed of custom reinforced cast concrete panels and a glazed curtain wall system. The modern tower will rise 55 stories above 5thAvenue.

About the Building

277 5th Avenue is designed to take advantage of the wonderful views of the iconic New York skyline as well as make a lasting impression through both its exterior and interior designs. The building will be composed of 130 residences of which every unit will be a corner unit, something very unique and coveted. Residences range in size from 1 bedroom to 4 bedroom penthouses. Every home will feature either a living room or master bedroom with corner exposures.

Residences are immediately greeted upon entering the building with an impressive double-height lobby. The sense of space and light are carried into the residences which feature 10-11 ft ceilings in the living spaces as well as floor-to-ceiling glass walls. There is a small collection of very unique “Loggia Residences”, 4 to be exact, which feature ceiling heights up to 20 feet and private, double-height, outdoor loggias.

Residences

The interior of the shared spaces as well as the private residences are designed by Jeffrey Beers International. Born and raised in New York, Beers has designed some of the interiors for the best restaurants in the city such as Porter House as well as boutique hotels. When thinking about the interiors for 277 5th, he wanted something that complimented and worked off of Vinoly’s sleek, tailored exterior, something that reminded him of home.

To bring is vision to life, Beers selected a warm color palette opting for materials such as travertine, oak, walnut, and onyx. These materials create a palette throughout that is filled with warm, earth tones.

Kitchens feature pale oak cabinets and white Italian marble countertops with integrated Miele appliances. Natural colors are continued throughout the bathrooms with master bathroom featuring Bianco Dolomiti marble tile flooring, custom walnut vanity, and a steel enamel tub. Secondary bathrooms and power rooms have similar finishes.

In addition to the selection of finishes, all residences are designed for views, taking in the vistas of the skyline. Kitchens and baths are centered around views thanks to floor-to-ceiling window walls.

Amenities

·      Fitness club with separate yoga studio and training rooms

·      Men’s and Women’s spa with sauna and steam room

·      Entertaining Suite

·      Fifth Avenue Terrace

·      Private Dining Room

·      Kid’s Play Room

Sample Availability

One Bedroom: Starting at $1.905M with Estimate Common Charges of $1,223 and Estimate Real Estate Taxes $1,331.

Two Bedroom: Starting at $2.88M with Estimate Common Charges of $1,936 and Estimate Real Estate Taxes $2,108.

Three Bedroom: Starting at $5.58M with Estimate Common Charges of $2,572 and Estimate Real Estate Taxes $2,800.

Images Via 277 Fifth

A Look Inside Zaha Hadid's First New York City Residences

A modern architectural marvel is nearly complete along The Highline in West Chelsea. 520 W 28th Street is the late Zaha Hadid's first project in New York City. The building by the Related Group is slated to open this summer.

They recently unveiled two model residences, and we took a look inside Residence 20, a 4 bedroom home situated on The Highline side of the building with views of the The Highline and the Empire State Building. The model has been elegantly designed by Jennifer Post.

520 W 28th Street

520 W 28th is very iconic of Zaha Hadid's signature style. The design of the building is characterized by graceful curves that draw inspiration from nature. The facade of the building, with its rounded windows, is a contrast to the hard angles that typically dominate residential real estate. 

The facade of the building creates a chevron pattern, weaving the interior and exteriors of the residences into one free-flowing design. The south side of the building is being transformed into an area that will house new galleries and a sculpture garden. 

The building is comprised of 39 hand-crafted residences to which Hadid paid careful attention, incorporating her signature touch throughout. The most notable element is the curved windows in some of the rooms.

Kitchens are custom design be Hadid in collaboration with luxury Italian brand, Boffi and feature a unique island sculpted from white marble and formed millwork and Gaggenau appliances. Master baths are finished with hand-selected white marble with a freestanding six-foot sculptural bathtub by Teuco Guzzini with fixtures by Dornbracht.

Amenities

520 W 28th includes a luxurious package of amenities for its residents. There are four separate amenity spaces and concierge services provided by Luxury Attaché. Amenities include a gym by The Wright Fit, 75-foot  swimming pool with natural light, North America's first private IMAX theater, and an entertainment lounge with a private Highline terrace. 

Residents and guests are immediately greeted in style with the sculpted front desk and 34-foot feature wall in the lobby. It makes a stunning statement!

Residence 20 

4 Bedroom | 4.5 Bath | $15,000,000

About Zaha Hadid

Zaha Hadid was born in Baghdad, Iraq and studied mathematics. In 1972, she moved to London to attend the Architectural Association School, marking the start of her foray into the world of architecture. 

Hadid founded Zaha Hadid Architects in 1979 and completed their first building in 1993 in Germany. Since, she has completed projects around the globe and has held numerous guest professorships at elite universities. Her work shed a new light on modern design and has grabbed attention around the world because of her use of fluid design.

Hadid was awarded the Pritzker Architecture Prize in 2004. She has also been included in lists such as Forbe's "World's Most Powerful Women" and TIME's 100 Most Influential People in the World. 

Hadid passed away suddenly from a heart attack in Miami on March 31, 2016 at the age of 65.

Lust-worthy NYC Apartments with Outdoor Space Perfect for Spring

In a city as crowded as New York, space certainly comes at a premium and so, too, does private outdoor space. Outdoor space is a highly sought after amenity in the city, and private space is even more desirable. 

With the spring season here, it will soon be time to get outside and enjoy the warm weather and longer nights. Private outdoor space offers residents a way to "escape" from the city while taking it all in at the same time. Terraces and balconies are a place to relax, enjoy views, entertain, and dine. 

Here are some of the most luxurious, lust-worthy apartments currently on the market in New York City with outdoor spaces that are giving us some serious spring fever!

11 Beach Street- PH B

$22,500,000

Exclusive Sales and Marketing by Douglas Elliman Development Marketing. Via

11 Beach Street, developed by HFZ Capital, is bringing a true Tribeca sensibility to the neighborhood thanks to its vision by BKSK Architects with interiors designed by Thomas Juul-Hansen. The building plays on the classic Tribeca "feel" with modern design elements incorporated throughout. The building features an exterior facade of rustic brick with the addition of classic terra cotta reinterpreted in a modern fashion.  A sculpted interior courtyard provides an architectural surprise on the interior of the building while creating a light-filled atrium. At the base of the courtyard, a glass pyramid allows light to flow to the concourse amenity level.

The homes embrace the loft-style living for which Tribeca is known with open living spaces and elements such as oversized casement windows and rustic wide-plank flooring. Kitchens are done in cerused oak with Miele and Sub-Zero appliances while master baths are clad in hand-selected Walter Zanger marble. 

Both penthouses, A and B, feature thoughtful private outdoor space, however, penthouse B has very impressive terraces. The 4 bed, 5 bath home is comprised of 5,985 interior square feet with 1,947 square feet of exterior space. The exterior space consists of both a private terrace as well as an incredible private roof deck.

56 Leonard Street- PH 53

$35,000,000

Exclusive Compass Listing of Leonard Steingberg & Toni Haber. Via

56 Leonard Street has become one of the most recognizable buildings in the New York City skyline, designed by world-renowned architects Herzog & De Meuron. 56 Leonard is recognized for its unique construction that features cantilevered residences, making the building appear like at "Jenga Tower." Because of the design, many residences feature private terraces.

Perched at the top of the building is an extraordinary home currently on the market, PH 53. Penthouse 53 is a 4 bed, 4.5 bath home over 6.400 interior square feet with 1,708 exterior square feet. The home features a wood-burning fireplace, workout room, 3 walk-in closets, and multiple terraces. However, the most important terrace is over 1,000 square feet in size and offers incredible views of the Manhattan skyline and well beyond. 

56 Leonard has over 17,000 square feet of amenities with a gym, pool, media room, and private dining and catering spaces. 

151 East 58th Street- 34B

$42,000/MO

A Victoria Shtainer Team Exclusive Listing

It is possible to find private outdoor space in a rental- the coveted amenity is not just for owners. 151 E 58th Street, 34B is a 4 bed, 3.5 bath home at the luxurious One Beacon Court condominium in Midtown. The home is comprised of 3,009 interior square feet with a large 1,200 square foot terrace that offers Northern, Eastern, and Southern exposures. 

One Beacon Court is known for its spectacular views, and this apartment comes with them both inside and outside. The terrace offers views of Central Park, the 59th Street Bridge, and the Manhattan skyline. 

Amenities at One Beacon Court include a private courtyard, fitness center, concierge, lounge, and business center.

The Woolworth Tower Residences- 31A

$26,400,000

Exclusive Sales & Marketing from Sotheby's International Realty. Via

Situated at the gateway to Tribeca by City Hall Park, the Woolworth Tower has been an icon of the downtown skyline since its completion in 1913. The building was originally commissioned by retail titan FrankWoolworth, and has had a storied history. 

French architect, Thierry Despont,  is masterfully transforming the top 30 floors into a boutique collection of 33 luxury residences ranging from 1- 4 bedrooms and an impressive 7 story penthouse at the pinnacle.  In his transformation, Despont is paying great attention to detail and paying homage to the building's landmark status and heritage as well as its Beaux-Arts design. 

The homes feature gracious layouts with high ceilings, oversized windows, as well as eat-in kitchens, and luxurious master baths sheathed in Calcutta Prima marble. The residences enjoy expansive views and the beautiful terra cotta ornamentation that surround the windows.

Residence 31A is a 4 bed, 4.5 bath home with 5,991 interior square feet and 632 exterior square feet. Because of the ornate design of the top of the building, residence 31A has unique terraces that are built into the building.

200 East 59th Street- 15A

$4,740,000

Listings of Macklowe Properties. Via

200 East 59th Street will be rising on the corner of 59th Street and 3rd Avenue, bringing a new luxury condo tower to the area. The project is by Macklowe Properties of 432 Park Avenue fame. 

Based on the current proposal and renderings, the building is slated to have a unique metal basketweave base that will certainly be attention grabbing from the street. The residences at 200 E 59th Street are characterized by units that have deep, continuous wrap around terraces. The architectural design of the building moves all the columns from the interior to the exterior, freeing up space inside the apartments. 

Residence 15A is a 2 bed, 2.5 bath home with 1,416 interior square feet and 548 exterior square feet. 

Amenities are slated to include a fitness center, private dining room and lounge, and a common landscaped and furnished terrace.

30 Park Place- PH 77B

$18,875,000

Exclusive Sales & Marketing by Corcoran Sunshine. Pictured: Loggia of PH 78B courtesy of Joe Woolhead

The private residences of the newly opened Four Seasons Hotel New York Downtown, 30 Park Place, have the bragging rights of claiming the highest outdoor spaces in the city. You may remember the unveiling of the model penthouse, 78B, which had a large southern-facing loggia.

While 78B is not available, there are a collection of notable residences available that include various outdoor spaces high in the sky. One such residence is penthouse 77B. Penthouse 77B is comprised of 3 beds and 4.5 baths over 3,173 interior square feet. The unit contains 2 separate terraces totaling 186 square feet of exterior space high in the sky. The views from atop 30 Park Place are simply stunning, no matter what the exposure. Residents can enjoy views of the skyline, Harbor, and well across the rivers into New Jersey and Brooklyn. 

30 Park place is designed by Robert A.M. Stern and comes with a collection of amenities that only hotel-style living can offer such as a pool, spa, fitness center, and in-home dining from Wolfgang Puck's CUT restaurant. 

70 Vestry Street- 9S

$22,500,000

Exclusive Sales & Marketing by Corcoran Sunshine. Via

70 Vestry has already made its mark on Tribeca, and it is not even complete! The project by Robert A.M. Stern is the last waterfront parcel of land to be developed in Tribeca, and the residences designed by Daniel Romuladez are simply stunning. 

The luxurious property has already garnered celebrity attention and residents! Select homes have private outdoor space with river views that cannot be beat...imagine spring sunsets on the Hudson!

Residence 9S, a 4 bed, 4.5 bath home is currently on the market in the building. The home is comprised of 4,355 interior square feet with 522 exterior square feet. 9S has 2 separate river-facing terraces. This residence features a windowed, eat-in kitchen, gracious entry foyer, and a great room with a wood-burning fireplace. 

70 Vestry will offer residents an expansive amenity package which includes a private porte-cochere and a health & wellness center expanding over 8,000 square feet that will have an 82' pool and squash court. 

6 Starchitect Designed Buildings You Need to Know

A collection of  star architects, or "starchitects", has emerged as the leading group of designers for everything from residential buildings to public works and museums. Residential buildings  bearing their names are coming up from New York to Miami and around the globe. Starchitects have been responsible for the "branding" of buildings and real estate. We have seen consumer preference shift toward branding in other segments and product categories, and now, we see the trend in real estate with high-end consumers being attracted to a "branded" building. 

While there are myriad factors that influence a buildings value such as location, functional design, and state of the market, starchitect designed buildings have seemed to maintain their value, or increase in value compared to those that are not branded in a similar way. 

New York City residential real estate is certainly participating in the Starchitect Boom. Here are 6 projects designed by Starchitects that are influencing the NYC real estate market you need to know:

100 E 53rd - Norman Foster

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100 E 53rd Street by Foster + Partners is a new glass tower coming to Midtown East, situated next to the iconic Seagram building. The building is comprised of a nine-story base which contains luxury loft apartments and amenity spaces. A 63-story tower adjoins to the base, bringing the building to a striking 711 feet with an exterior glass curtain facade.

The 94 homes have a light and airy feel thanks to the glass curtain wall and large living spaces which include wall space optimized for art displays. Loft residences incorporate architectural elements  that are reminiscent of sleek and sophisticated downtown spaces including diamond-polished high-grade concrete flooring and architectural concrete walls. Finishes include brushed oak cabinetry and Gaggenau appliances in the kitchen, and a wire brushed  oak vanity, radiant heated floors and steam showers (select residences) in the master baths. 

Amenities will include a wellness center equipped with steam room, sauna, and spa as well as a swimming pool, lounge, and library. Acclaimed Michelin Star chef Joel Robuchon will be bringing a restaurant to the location. 

About Foster + Partners: British based firm founded in 1967 that is known for its work on a variety of projects including public infrastructure, airports, civic and cultural buildings, offices, and private homes. They have buildings in six continents. The Pritzker Prize Jury described Norman Foster as “an architect who cares passionately about the future of this planet, an avowed optimist with a firm belief in technological progress, but who also believes that architecture is about people and the quality of life.”

520 W 28th Street- Zaha Hadid

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520 W 28th Street is the late Hadid's only project in New York, and thus, has an inherent special value to it as it brings her signature elements along the High Line. The design is based on graceful curves inspired by nature that are a constrast to the hard angles generally seen in residential architecture. The hand-rubbed metal facade is one continuous line that works its way toward the sky. The curves of the building create a distinct chevron pattern on the exterior of the building, linking residence exteriors and interiors together in one sweeping movement. 

The building is located directly on the High Line and will be comprised of 39 residences, with each loft-like home uniquely crafted and featuring a custom sculptural element in an elegant opalescent finish. Interiors integrate seamlessly into the sculptured nature of the building from the kitchen islands to the terraces. Kitchens are custom designed by Zaha Hadid in collaboration with Italian kitchen specialists, Boffi, and include wide plank oak flooring and Gaggenau appliances. Master baths are characterized by white marble contrasted against black crosscut Nero Marquinia marble with a freestanding six-foot tub by Teuco Guuzzini. 

Amenities will include a 75 ft sky lit pool, private iMax movie theater, wellness level, and lounge and entertainment suite with a High Line terrace.

About Zaha Hadid: London based firm, Zaha Hadid Architects, known for their innovative exploration of design and practice is largely recognized for their work outside of the United States. Founding partner, Zaha Hadid, received the Pritzker Prize in 2004. Her project at 520 W 28th Street is the firm’s only project in New York, and sadly, remained uncompleted at the time of her sudden death in 2016. The first has 950 projects in 44 countries.

160 Leroy- Herzog & de Meuron

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160 Leroy draws its design inspiration from the practices of famed Brazilian architect, Oscar Niemeyer. Speaking of the project, Niemeyer describes the building as "curvaceous, sensual, free-flowing, seductive, and sexy."

160 Leroy will have a white concrete façade with diamond faceted floor-to-ceiling windows that reflect the light and water. The building spans a full city block and will sit atop a bed of light that gives the illusion that it is floating among the streets. 

The 49 residences feature bespoke layouts designed to maximize light and views, and which have also been designed to maximize wall space for art displays. Residences feature wide-plank Larch wood floors from Scandinavia, wood burning fireplaces, and custom designed bathrooms, each unique from the other.  Custom furniture packages and layouts available for purchase have been curated by French designer Christian Liaigre.

Amenities at 160 Leroy will include a 70 foot pool and whirlpool spa, fitness center, yoga & pilates studios, private massage room, kids’ clubhouse, and a gourmet take-out and delivery restaurant.

About Herzog & De Meuron: Founded in 1978 in Basel, Switzerland by Jacques Herzog and Pierre de Meuron, whose careers closely paralleled one another. They received the Pritzker Prize in 2001 and New York Times Magazine called them “one of the most admired architecture firms in the world” in 2006. The firm is known for their transformation of materials and surfaces through exploration of new treatments and techniques. The firm is also involved in other NYC residential projects including 56 Leonard and 70 Vestry.

53 W 53- Jean Nouvel

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53 W 53 is a new tower coming to Midtown, rising 1,050 feet above The Museum of Modern Art. The design features multiple different tapered surfaces that pay homage to the classic towers that built the New York skyline but which also serve as a vision of the skyscrapers of the future.

The building is comprised of 145 residences with interiors by Thierry Despont that include bespoke kitchens and baths as well as elegantly crafted mahogany doors. Kitchens include custom back-painted glass cabinets with polished nickel detailing design by Thierry Despont, Sub-Zero and Miele appliances, and polished Statuary marble countertops. Masterbaths feature luxurious finishes throughout such as Verona limestone floors, Noir St. Laurent marble feature walls, Lefroy Brooks cast iron soaking tub, radiant heated floors, and Dornbracht fittings.

Building amenities will include a 65 foot lap pool, wine vault, library, park view lounge, and wellness center.

About Jean Nouvel: The Parisian based firm is one of the most celebrated across the globe, having completed projects including museums, concert halls, opera houses, hotels, and luxury residences. Nouvel has a long standing career that goes back to the 1970s, with the establishment of Ateliers Jean Nouvel in 1994. Jean Nouvel has built museums, concert halls, conference centers, theaters, hotels, collective housing, office buildings, commercial centers, and private residences around the globe. Received the Pritzker Prize in 2008.

565 Broome Street- Renzo Piano

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565 Broome Street is Renzo Piano's first residential project in New York City. He brings his iconic design and approach to this luxurious residential project located in SoHo. The 30 story building will stand out in the SoHo landscape, set alongside its smaller scale neighbors.  Renzo Piano prides himself on his careful attention to materials, and 565 Broome is no exception with an austere material palette that accentuates the quality of those selected. The overall design and approach to the project is an expression of key materials. Design is characterized by low-iron, extra wide glass and “tube” shaped living spaces in select residences which are a character of Renzo Piano

Interiors are designed by renowned firm RDAI who take a similar approach to their work as Piano, highlighting craftsmanship and materials. At 565 Broome, they have found beauty in natural materials such as stone,  white oak, glass, and concrete. RDAI is known for its work in global Hermes and Saint Laurent stores.

Amenities include a private gated driveway, outdoor landscaped terrace, 55 foot swimming pool, fitness center, lounge, and library.

About Renzo Piano: Italian architect Renzo Piano is known for his refined approach to his work which can be seen around the world. He received the Pritzker Prize in 1998 with the Jury comparing him to the likes of Leonard Da Vinci and Michelangelo. He founded his firm, Renzo Piano Building Workshop, in 1981. Piano is most celebrated for his work in designed the Centre Pompidou in Paris. In New York, he has also designed the NYT Building and the new Whitney Museum.

125 Greenwich Street- Raphael Viñoly

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Details are limited and aspects have changed multiple times since the original permits were filed with the Department of Building, but we do know some details about the glass tower that is rising just below the World Trade Center site. 

125 Greenwich Street is slated to rise 898 feet (70 stories) according to the Vinoly Website, and include 273 condos. Vinoly reduced the height down to 70 stories from the permitted 88 out of respect for the neighboring 4 WTC tower. At 88 stories, it would stand taller than 4 WTC.

The building will include a large floor plate which will allow for more generous apartment layouts. The exterior will be done in a glass façade which will extend more than its structural mass to the site base with two I-beam shear walls supporting the building core and eliminating the need for all but four of the interior columns The building is designed to resist the wind and will feature open-air, hexagonally shaped mechanical floors similar to the open-air concept seen at  Vinoly's 432 Park Avenue.

Amenities, situated on the upper floors, are  slated to include a fitness center, spa, squash court, library, demo kitchen, and tech bar.

About Raphael Vinoly: Uruguayan architect who founded Raphael Vinoly Architects in 1983 with offices around the globe including New York, London, and Buenos Aires. Vinoly has designed buildings and museums around the world and is most recently recognized for his design of 432 Park Avenue in New York.

5 Best Upper East Side New Developments

5 of the Best Upper East Side New Developments

Many think of Park Avenue Co-ops and beautiful townhomes when they think of the Upper East Side, however, the area is experiencing a new development boom. New development projects are bringing sophisticated, sleek residences with the best amenities available to the classic and iconic neighborhood. 

We have narrowed the list to a few of the best projects in the area- in no particular order.

1. 180 E. 88th Street
 

Developer & Architect: DDG Partners

Size: 2-4+ bedroom condos

Amenities: wine room, play room, game room, partial basketball court, fitness studio

Other Features: Façade features handmade bricks from Denmark. Ceiling heights up to 14’ 2” and 28’-8” in duplexes and windows up to 9’

2. Citizen 360

Developer & Architect: Anbau, SHoP Architects

Size: 1-4 bedroom condos

Amenities: Entertainment level including catering kitchen, entertainment suite, playroom, screening room, multimedia studio, Wellness level with fitness and yoga studio, private parking

Other Features: Comprised of 84 residences

3. 389 E 89th

 Developer & Architect: Magnum Real Estate Group, Ismael Leyva Architects

Size: studio-3 bed condos

Amenities: residents’ lounge, the rooftop, fitness center

Other Features: Interiors by Paris Forino, named Manhattan’s fastest selling new development

 4. 20 East End Avenue

Developer & Architect: Corigin Real Estate Group, Robert A.M. Stern

Size: 2-6 bedroom condos

Amenities: billiards & game room, wine cellar, library, fitness center and spa, junior lounge for kids

Other Features: handset limestone base, wifi enabled floor heating system in select residences, motor court

5. The Kent

Developer & Architect: Extell and Beyer Blinder Belle Architects

Size: 2-5 bedroom condos

Amenities: drawing room, indoor pool & sauna, fitness center, “Camp Kent” for children, garden salon, sound lounge designed by Lenny Kravitz

Other Features: Interiors by renowned design studio Champalimaud, tax abatement

We live in the neighborhood and understand property values and what makes the Upper East Side special. 

Ready to call the Upper East Side Home? Get in touch with us for the most up-to-date neighborhood insights and the best pricing!

Note: All Images from respective building websites

5 Reasons Why to Consider Buying New Development

The new development market has been booming in cities across the country, with cranes dotting the skyline in likes of Miami and New York. Some truly exciting and exceptional product has been introduced to the market over the past few years including many projects by “starchitects” and the introduction of over-the-top amenity offerings.
 
Sentiment among real estate professionals seems to be that we may see continued strength in the new development market or, perhaps, even a slight uptick if the Trump Administration enacts proposed loosening of Dodd-Frank regulations and supports infrastructure spending. Both of these particular aspects could make the origination of construction loans easier and propel new construction projects forward, and make beginning them more appealing for developers.
 
As with any transaction or large purchase decision, there is certainly a list of pros and cons, however, as a buyer in today’s luxury real estate market, new development is quite appealing. Here a 5 reasons why you should consider buying a new development project.

1. Opportunity to Buy Pre-Construction 

Once developers file the appropriate plans for their project with the city, they can begin to sell their project to prospective clients. This means as a buyer, you have the flexibility to buy pre-construction, signing a contract well in advance of the projected closing. Often, buyers that get in during pre-construction receive a discounted price. This, of course, does come with risks as the project may not go as expected or the market may take a downturn between contract signing and closings. However, you could find yourself well rewarded by buying pre construction at a favorable price per square foot in a rising market, rendering your apartment worth more by the time the project closes.

2. Everything is New

Who does not love something brand new? Buying a new development project means that you are purchasing a home that has never been lived in by anyone. Additionally, all appliances and amenities will be brand new as well.

3. Amenity Packages

There are certainly units in older buildings on that market that offer amenities, but the newest projects on the market have unparalleled offerings. The current market is quite competitive given the amount of new development inventory, so developers are using their amenity packages as a key differentiating factor to increase their project to the pool of buyers in the luxury market. Amenities in the hottest new development in the city include items like private wine cellars, swimming pools, curated libraries, spas, and porte-cocheres, to name a few. These features are not only appealing to buyers, but they are a favorable aspect from an investment standpoint when looking to secure tenants in the unit and also from a resale standpoint as well.

4. Potential Tax Abatements

Many new development projects coming to market have a tax abatement under the 421-a program. This program, which incentivized developers to build, recently expired, but was renewed under different conditions. As long as a new development project broke ground prior to the expiration of the original program, the building will receive the reduced tax benefits that are passed along to owners. Tax abatements lower the monthly carrying costs for the duration of the abatement which is a huge plus for property owners. For example, One Manhattan Square, a new development project on the Lower East Side, has a 421A abatement, making the monthly taxes on an available 1 bedroom unit $13/month for the duration of the abatement.

5. Investment Opportunity

Buying new development at a favorable price point can be a lucrative investment opportunity. New development comes with a premium price point which is not accessible for everyone, however, this premium price point can be valuable when it comes to resale and is even more valuable in buildings by “starchitects.” Research has shown that buildings with a premium architect’s name on it hold or increase in value more than buildings that do not. Buying in to a product like this means buying a brand name, and consumers generally trust brand names. Additionally, new development tends to be quite liquid when it comes to resales as it always has its buyers and sellers.

There is a great selection of new development inventory currently on the market and coming to market in New York City. Below is a selection of a few of our favorite projects currently underway.

If you are interested in exploring new development projects in New York City, or would like updated availability for a building, please contact us to schedule your appointment. 

70 Vestry Street

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Situated on the last undeveloped waterfront parcel in TriBeCa, 70 Vestry is a Robert A.M. Stern masterpiece that offers a luxurious downtown living experience. The building will be done in Beaumaniere Limestone sourced from France, a stone known to glisten in the sunlight. 70 Vestry Street offers a vast array of amenities including library, café with private resident lockers, billiard room, lounge, and wellness level with fitness by The Wright Fit and a pool.

Madison Square Park Tower 

Madison Square Park Tower, located at 45 East 22nd Street, is changing the Flatiron skyline as it rises to 777 feet tall. Designed by renowned architectural firm Kohn Pedersen Fox Associates with interiors by Martin Brudnizki Design Studio, 45 East 22nd Street is a unique architectural masterpiece with a base that is narrower in width than the top. The residences on upper floors offer simply spectacular panoramic Manhattan views. The 5 levels of amenities will include a library, fitness center with basketball court, terrace, leisure rooms, and an upper club on the 54th floor.

One Manhattan Square

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One Manhattan Square is a new sleek glass tower coming to the Lower East Side, rising next to the Manhattan Bridge. The project, by Extell, is bringing a new concept of luxury living to the neighborhood as it will have over 100,000 square feet of indoor and outdoor amenities. Given the amount of amenities, many are dubbing the building a "vertical village." Interiors are designed by Meyer Davis. The building has a 20 year tax abatement with availability starting with 1 bedrooms.

15 Hudson Yards 

The Hudson Yards project is completely transforming the far west side of Manhattan, bringing new life to once desolate locale. The entire development of the Hudson Yards projects encompasses residential and commercial. The area will include new luxury condo and rental buildings including 15 Hudson Yards. The building, an innovative design by Diller Scofidio + Renfro in collaboration with the Rockwell Group, will stand 88 stories tall with 285 condominiums. The building will bring a new level of luxury-living to the far west side of Manhattan. Residents will have access to all the amazing benefits of the Hudson Yards project. The building will feature a unique 2-level lobby with soaring ceilings and offer spectacular views of the Hudson, Manhattan skyline, and center piece by Heatherwick Studio. Residents will also be steps away from the new 14 acres of parks that are being constructed. Residences range in size from 1-4 bedrooms with duplex penthouses. 

221 West 77th Street

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This new Upper West Side building is situated on a newly transformed section of West 77th Street, located between Central and Riverside Parks.  The project is a mix of old-world charm and contemporary designs by designer Thomas Juul-Hansen. Residences will feature floor-to-ceiling windows, offering abundant light and luxurious details and finishes throughout such as hand-painted kitchens. Amenities will include a spacious landscaped roof with gas fire pit, billiards room, basketball court, and state-of-the-art fitness facilities. 

Why Midtown is Really the Center of New York

New York City is one of the most vibrant and culturally rich cities in the world, with neighborhoods to match anyone's personality. Some neighborhoods offer more than others, but one in particular, Midtown, really is the center of New York. 

Looking at a NYC map, Midtown is physically at the center, but it is also at the center of arts & culture, dining, and a real estate revolution. Residents of Midtown are in proximity to some of the best the city has to offer in all of these categories. 

Midtown is close to many office buildings and transportation hubs such as Grand Central making it a convenient neighborhood to walk to work and then revel in all the cultural options afterwards.

Arts

The Midtown cultural district is home to a lengthy list of art galleries, museums, and auction houses that extends into the neighboring Upper East Side. In addition to the museums and auction houses, Midtown is also home to many public art installations that one can enjoy by simply strolling through the area.

Office buildings throughout Midtown East serve as art galleries of sorts, with buildings such as IBM and Jeffries serving as home to unique art pieces in their lobbies respectively. The outdoor space at the famed Seagram building, a highly utilized plaza, has been home to public art displays. This summer, we saw the sculpture "Welcome Parade" by Jean Dubuffet on display in the plaza. The Lever House has also been home to many art installation both outdoors and in the lobby as well. Jeff Koon's sculptures have called the Lever House lobby home.

You may have also noticed various sculptures along the green spaces of Park Avenue, changing over the course of months and years. The Fund for Park Avenue, which is responsible for maintaining the flowers and plantings, spearheaded the sculpture displays along the avenue. These installations have been enjoyed by many, locals and tourists alike. 

Where to Go:

• Museum of Modern Art: 11 W 53rd Street
• Christie's: 20 Rockefeller Plaza
• Phillips: 450 Park Avenue
• The Morgan Library: 225 Madison Avenue
• Howard Greenberg Gallery: 41 E 57th Street

Dining

The culinary options in Midtown are unrivaled, with virtually everything at your finger tips including some of the most highly regarded restaurants of the city. Enjoy quaint bistros and diners along 2nd Avenue, or more upscale and trendy places along 5th and Madison Avenues. 

The dining scene is undergoing an exciting change, with some heavy hitters in the industry coming to the area. Major Food Group (of Carbone, Dirty French, and Sadelles fame) has been tasked with revitalizing the former Four Seasons Restaurant, which many might say is an unofficial New York City landmark. Major Food Groups slated renovation for the space includes a grill room and a modern pool room. 

The second notable arrival to Midtown East is  celebrity chef Joel Robuchon. Robuchon has more Michelin stars than any other chef in the world, amassed from at his restaurants in culinary centers around the world. Robuchon will be opening a new restuarant and market place in the Foster + Partners development, 100 East 53rd Street. 

Where to Eat:

• Casa Lever: 390 Park Avenue
• Le Cirque: 151 E 58th Street
• Avra Madison: 14 E 60th Street
• The Baccarat- Grand Salon: 28 W 53rd Street
• The Polo Bar: 1 E 55th Street
• Philippe: 33 E 60th Street

Real Estate Revolution

In addition to the evolution of the dining and shopping options, Midtown is also experience a real estate revolution, with the hottest, eye catching new development popping up in the neighborhood.

Midtown has, in a sense, always been at the forefront of architecture and design, dating back decades. The Mid-Century design of buildings such as the United Nations and the Lever House were revolutionary at the time, standing in contract to the stone Park Avenue facades. The new developments are situated well among their architecturally pleasing neighbors. 

57th Street has been a key component in the transformation of the luxury real estate market in New York, with the arrival of super-luxurious (and pricey) pads that began a competition of "who can build the tallest residential tower" in New York. Among the most famous is 432 Park Avenue, the slender square building that towers over the Manhattan skyline. If you haven't done so, get a look inside 432 Park Avenue. Other notable new development include the MoMa Tower at 53 West 53rd Street, 520 Park Avenue, and glass tower rising at 100 East 53rd Street.

100 East 53rd Street

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Foster + Partners are bringing their latest project in the form of a sleek, glass tower that is rising at the corner of 53rd Street and Lexington Avenue. Situated behind the landmark Seagram Building, One Hundred East Fifty Third is designed by architect Norman Foster and will stand 63 stories tall, featuring a glass curtain wall exterior. 

The 94 homes range in size from lofts to 3 bedroom full-floor residences. Lofts are characterized by exposed raw materials done in an elegant way such as finished concrete walls that are perfect for displaying artwork and diamond-polished high-grade concrete floors.

Residences have floor-to-ceiling windows with UV protection, kitchens outfitted with Gaggenau appliances and wired brushed oak cabinets. Tower residences feature custom millwork designed by Foster + Partners, Italian Carrara marble countertops, and aquabrass fittings in the master baths. Some tower residences have private elevator entrances. 

via 100 E 53rd

The views from the tower residences are sure to be stunning!

Amenities: The amenity space will be on the third and fourth floors, with a 1,200 square foot wellness center complete with sauna and steam room, a pool, and library. The restaurant by Joel Robuchon will comprise the first and second floors. There will be a gourmet market accessible to the public on the ground level and a fine dining restaurant located on the second floor.

Example Availability: Residence A Floor 24: 2 Bed, 2.5 Bath comprised of 1638 square feet. $5,500,000.

Also Available in Midtown East- The Victoria Shtainer Team is also pleased to offer a unique residence at the heart of the Midtown East neighborhood at the luxurious One Beacon Court Condominium- 151 East 58th Street, 47A

If you are interested in scheduling a private showing to preview 100 East 53rd Street or 151 East 58th Street, 47A, please contact The Victoria Shtainer Team.