Earlier this month I was very happy to be sitting in a terrific presentation about Waterline Square, the last undeveloped parcel of the 57th-72nd Street Stretch along the Hudson River.
What can I tell you? Under development by GID Development based in Boston, who owns about $16B in real estate, they have launched what should be a gorgeous project. It’s three buildings, three different architects, all happening at the same time, a real Master Plan concept with a massive parking complex underneath and a large public park.
a bucolic park that will be hugely popular- Waterline Square 2019
The architects: Richard Meier on the building closest to the river, Rafael Vinoly is building the boutique building on the SE corner of the site, with Kohl Pedersen Fox is building the largest building across the Northern edge of the site.
This is Pro Bowl team assembled to create an iconic set of buildings. The buildings all connect below grade with a massive amenities package. They were able to dig three floors below grade, giving them a ton of space for so many different ideas. There will be over 100,000 square feet of amenities: indoor pool, skate park and dog care, too. There will be a large outdoor park with public kids playground, great retail surrounding the park- a place where people will gather. 2019 is the targeted completion date.
Further, they have been able to get a 421a tax abatement, so the charges will be reasonable. Beautiful views, private amenities in each building as well, lots of outdoor spaces for residents.
One Waterline Square
Meier is world-famous, having done the lovely glass buildings in the West Village- 165 Charles, 166 Perry Street and 176 Perry Street, among many others. This will be his least monochromatic project, with the interiors bringing in elements of beige (SHOCKER, given how often he uses strictly white). Known at 1 Waterline Square, has only 56 units, including the largest unit in the entire complex, a 5-bedroom penthouse. There is a rental component in this building as well, with a separate rental lobby and amenity package. A company called Champalimaud is working with Meier on the interiors, and every apartment thus far has two choices of finish packages until they get closer to completion. This level of customization is very rare in NYC new development.
10′ ceilings throughout, with a contemporary Gaggenau appliance package, and everything vents to the outside. The developers have taken great (and expensive) care to look after those little details that are annoying at times to buyers. Lastly, given its location, having a porte cochere, where buyers can drive in and load/unload is very handy. And beautiful to boot.
Where they are now
2 Waterline Square
The KPF building, in conjunction with interior designers Yabu Pushelberg (who did the One57 hotel renovation, One Madison Park re-renovation, and lots of other projects), will have 263 condominium units. Quite large, with 1-4 bedroom apartments. There will be a big tower amenity, with all sorts of fun little things, private locked “spirits cabinets” allow you to avoid having to tote up a bottle of something every time you want a drink on the terrace.
3 waterline Square
Weighing at 33 stories and only 47 apartments, they are marketing this building as the “adult” of the bunch. I don’t know that you can actively try to keep kids out of any building, but this is like the grown up pool at the resort, where they give you dirty looks if you bring your kids to lay on a beach chair with you. Maybe?
Vinoly’s recent 432 Park elicited lots of shock as well, but this project is much more subdued. My take on this was that they had a tough floorplate to work with, and Russell Groves (Of Groves & Co), who is doing the interiors, did a great job with the layouts they had. This smaller, more boutique building with fewer private amenities, seems slightly better (lower) pricing is better because smaller. I think that it may get more attention because it’s slightly more convenient to West End Avenue, but it is to be seen.
Whatever happens with any of the buildings, this is going to be a big hit in my view. They are well-underway and growing fast. The combination of retail, schools, other condo buildings such as One West End on the block will end up truly changing the center of the Upper West Side. The complete project, which includes at least 2 private schools and one public school (Collegiate among them), will be marvelous!
More to come. They are close to their sales launch and I think it will be a huge success.