The High Line
It seems that everywhere you turn in New York City today, there is a crane swinging above your head, scaffolding hovering over the streets, and the sound of jackhammers echoing in your head as a high-end condominium building undergoes construction. As Michael Bloomberg’s 12-year mayoral reign comes to a close, the city is witnessing an enormous push for new development. Bloomberg has gained a reputation with developers for being very building-friendly, causing them to push development plans through the administration before 2014 for fear that the new mayor may not be so cozy with them. Just take a look at this interactive map from The New York Times with how the city has changed over his reign; it’s amazing! This has caused the coming pipeline of new construction in the city to be a dizzying and long list of architecturally cutting edge buildings; it’s an exciting time for real estate!
Nowhere has this explosion of new development been more concentrated and apparent than around West Chelsea’s High Line. The mixture of the high-end market booming, Bloomberg’s pro-development administration, the influx of international buyers, the lack of large, high-end condominiums on the market, and the mind-blowing success and popularity of the High Line has truly created a perfect storm for builders to create magnificent structures and jaw-dropping new inventory over on the High Line.
For those readers not familiar, the High Line is a 1.45-mile long city park that is a conversion of an old raised railroad winding up through West Chelsea. It runs from Gansevoort Street in the Meatpacking District to West 30th Street on 10th Avenue. With its focus on public art, community, and sustainability, the park has been a massive hit and brought in millions of tourists and trailblazed the transformation of West Chelsea. Mayors worldwide are copying the idea, as Philadelphia, St. Louis, and Chicago have all laid out plans to transform railroads into parks, and there is a similar structure being built in Queens as well. This success is not even to mention the future of what could come on the High Line, as the city is already expanding the park another mile or so, allowing it to swing out towards the water on 11th Avenue and grow another four blocks north to 34th Street.
Extension of the High Line
What The Alexander Team is interested in is not necessarily the High Line, but the buildings that are flying up directly adjacent to and abutting the park. There truly is going to be an entire new neighborhood of everything from affordable rentals to top-of-the-line condominiums right on the park. Let’s take a look at some of the most attractive new developments going up on the High Line!
Soori High Line: 522 West 29th Street
Developers: Blackhouse and Oriel
This is an extremely impressive Asian resort-inspired building where each full-floor unit will have a private pool directly in the apartment. You read that right, a private pool on everyfloor! Towering ceilings and a laundry list of amenities will make this new development a serious contender to break sales records in the area. Each unit will have about 20-foot ceilings, huge windows, fireplaces, outdoor space, and libraries.
ZahaHadid: 520 West 28th Street
Developers: Related Companies
ZahaHadid, a world renowned architect known for her striking and curving designs, enters into the New York condominium market with this wild chevron building. The building will have a garden, a courtyard, a rooftop terrace, and an indoor pool and spa, and many of the units will feature outdoor space and 11-foot ceilings.
Casa Moderne: 534 West 29th Street
The same developer as the Soori High Line is bringing some more massive units to the same block. This will be a 10-floor condominium building with only six units, but they will range from 1,500-2,500 square feet and have 12-16 foot ceilings.
500 West 21st Street
Developer: Sherwood Equities
Designed by renowned architectural firm KPF, this building is decidedly architecturally tame compared with some of its neighbors, but is assured to be awe-inspiring purely based on size. Many of the 32 units will reach around 4,000 square feet and will be marketed towards families, and its sleek black and white design will be sure to turn heads on the High Line.
508 West 24th Street
Developer: Cary Tamarkin
Architect-turned-developer Cary Tamarkin is handling everything on this project, focusing on staying architecturally close to the history of the West Chelsea area while pushing for a hopeful and different future. This is a tall white building with two units per floor and a few penthouses up top, and again will be marketed towards families. This one is already open for sales and about halfway built, so get in fast!
153 Tenth Avenue
Developer: HFZ Capital
The only building that truly can call itself a “High Line” building, this development has two twin towers going up on each side of the High Line, with a common lobby under the High Line. The lobby will have a large skylight looking at the bottom of the High Line, encouraging residents to appreciate the park as the central part of the condominium.
This is not all of the new developments, and there is a still lot of prime development space around the park, and we will keep our eyes peeled and ears to the ground with the best new developments in the area for you. The Alexander Team is your number one source for all things real estate, all around the world!