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New Developments Entering the NYC Market

Published On June 10th, 2013 by Alexander Team

At a time when inventory is near record lows, new developments entering the Manhattan housing market are sure to receive much attention. All over the city, new buildings are rising up, and trying to set a new standard for luxury living.

In Midtown East, 432 Park Avenue will be the tallest residential tower in the western hemisphere upon its completion in 2015. Rafael Viñoly designed the graceful 1,396- foot tower. Also in the neighborhood, 250 East 57th Street is a mixed use modernism style residential skyscraper has been under construction since 2010, and plans to open its residential tower later in 2014.

In Midtown West, the Baccarat Hotel and Residences at 20 West 53rd Street - designed under visionary creative eye of Tony Ingrao- is an image of perfection. Residents have complete access to the services of the Baccarat Hotel, including the restaurants and bars, spa and fitness, and 60-foot pool. The Residences went on the market this March, with prices varying from $3.5 million for a one-bedroom unit, up to $60 million for the penthouse. The second apartment to sell, a four-bedroom unit with 4,545 square feet, went for $20.25 million.

Uptown, 10 Madison Square West is scheduled to begin sales in June. Actual construction for the $300 million renovation at the former international Toy Center Building should be finished sometime next year, reported. Another major restoration development project, 737 Park Avenue in Lenox Hill, began sales this April, with 30 percent of the units already in contract.

Downtown, Tribeca Royale at 19 Park Place is distinguished by a futuristic lean structure. The building is on track for a 2014 completion. In West Chelsea, the Soori High Line at 522 West 29th Street is an architectural wonder. Developed by Blackhouse and Oriel, the elegant and sophisticated structure is designed with an Asian aesthetic.

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