Eye Candy for November – New Development Wrap-Up

I saw a lot of property in the last month.

Some

were the last units on the market in

their respective projects (that is,

which are essentially nearly sold out) – the penthouses of 508 West 24th and One Morningside Park, and

a unit at 61 Fifth Avenue.

I’ll include a few images and thoughts on these, of course.
But I also got into the 5 Beekman project and the Woolworth Penthouses, two Downtown projects,

flanking City Hall Park, that certainly confirm my suspicions that Lower Manhattan, those areas surrounding Tribeca to the East and South, really will explode in the coming years.

Architecturally significant, full of life, with light and views, incorporating smart design, by beautiful designers, with inventive retail components, all working toward creating and continuing the growth of neighborhoods.

First, the Woolworth Tower.

Starting on the 33rd floor or so, Thierry Despont was given what I would characterize as less than a free hand to create some stunning apartments.

Incorporating many of the original details of the building, such as the wrought iron used in kitchen backsplashes (shown in the image nearby),

has required a traditional focus, which Despont moves toward.

The bones of the spaces offer great ceiling height and gracious proportions.

The product definitely feels a bit more traditional than almost all of the product on offer Downtown, or anywhere.

30 Park Place, 520 Park, and One57 all offer Smallbone kitchens, or certainly some amount of wood paneling or cabinetry, but nothing to the level which these Woolworth apartments offer throughout entire units.

I would argue that they would appeal more to an Uptown buyer than Downtown, and I’m concerned that the audience will be a bit underexcited by finishes I’d call staid.

There is no question that the product is incredible, and further, I am stunned by the level of finish that this new development is offering – certainly in comparison to what was once acceptable – but as with the Puck Penthouses, this seems catered to a very narrow group of buyers

who may not be looking

for this

location.

I would have pushed for a

few more transitional elements to the decoration.

Never mind that the one bedrooms start at $4.25mm with $4000/month carrying charges.

The address carries serious weight, no question.

We shall see if the design can carry the same weight.

I hope I’m wrong.
Now, The Beekman.
I’m a fan of Thomas Juul-Hansen, and he seems omnipresent right now, designing

across the marketplace from Chelsea buildings to One57 interiors, and beyond.

That said, he’s done a terrifically exciting job at The Beekman.

The building itself will be 20 floors of hotel, offering residents two world-class restaurants from Keith McNally and Tom Collicchio, along with a fun and funky lobby, while the upper 25-30 floors will have incredible views Uptown and to the East, not to mention some special views of the Hudson.

Its position close to the Brooklyn Bridge and Frank Gehry’s undulating residential rental tower give it great neighbors, and a degree of views that could be unmatched around it.

I don’t see these Northern views getting blocked.

With only 2 or 3 units per floor, there is a level of privacy and service here harder to find.

It recalls something like a 40 Mercer Street in terms of boutique, high-end, full-service experience.

With 5-star room service!

Floor-to-ceiling windows, open kitchen, rich textures.
In all, this is something pretty marvelous.

I see a lot of value here in comparison to some of what’s on offer in the marketplace.
I’ll do a drive-by of what else I saw this month and will add some photos below:
508 West 24th street – great location, great Cary Tamarkin-signature simple, elegant, and clean –

but this is all about the Highline location.
61 Fifth Avenue PH – 13th and 5th is a difficult location.

I don’t think the design warrants the pricing.

I was told to “bring offers.”

It’s a 6000sf+ multi-level house in the sky across the street from the New School.

Not blown away, not at all.
One Morningside Park Penthouse – Gosh.

The views are incredible, incredible, incredible.

The location will be a challenge for some.

But holy moley.

Stunning.

This is an incredible project and bodes well for both South Harlem and what I feel is incredible value between 100th-110th near Central Park West.