What most excites me about 2013?
The election is behind us.
If we’re all still here on Saturday, the Mayans were wrong.
The Hobbit and Les Miserables are in theatres.
What else is there, really?
Well, New Development.
We will see more and more in 2013, thank goodness.
While much will be made of the taller and taller buildings going up- and we’ll cover one today, there will be many apartments built with more pedestrian offerings- though many across the US will still think of these buyers as the “1%.”
I was thrilled over the last ten days to view one tower- the soft-opened 432 Park Avenue, and one terrific Upper West Side condominium at 101 West 87th.
Neither are advertising prices yet, but both are very indicative of the market for large apartments, or fabulous luxury offerings over which foreign buyers have been salivating.
432 Park on a gorgeous day
I’ll start with 432 Park.
Magnificent views, huge windows, soaring ceilings, 1000sf home offices and nanny apartments for purchase on lower floors from the apartments, unique Central Park views, gorgeous modern finishes, massive 8500 square foot floor plates, all in the tallest residential tower in New York City.
What’s left to be desired?
With One57 stalled due to the crane mishap- and thank goodness everyone was ok- who knows?
Maybe this building will be completed first!
I only half joke.
Rafael Vinoly has designed a building which will certainly generate love and hate.
Modernists will love 10′ x 10′ windows, 12’6″ net ceiling heights after all the lights, floors, and everything are installed, very thoughtfully executed floorplans, amazing finishes, and everything inside the building which buyers want.
A fine, fine job.
Pricing is, of course, steep.
Almost $70mm for a full-floor unit around the 90th floor.
As prices approach $10,000 per square foot, one definitely hopes that the views are protected.
I was a little disappointed that the 34th-40th floor one bedroom (of which there are few) start at $5mm and don’t offer the same views.
These are at least 1400 square feet, though, so at around $3200-3800 per square foot, there should be some takers.
There are interesting architectural features as well, such as the “drums” to allow the wind to pass through the building on specific levels.
Of course, the views are jaw-dropping.
Those who hate the building will complain about the look of poured concrete from the outside.
But gosh- how many all-glass curtain walls does one city need?
The rise of the super tall residences will bring some much needed flavor and diversity to the look of our fair city.
Also, some will complain about the location- but I love that 57th street is getting this huge boost from West to East, and from 2nd avenue-west.
The corridor is getting lots of love, even in today’s Wall Street Journal, as Extell unveils it’s even-taller building on Broadway and 57th, the 1550-foot tower designed by the same firm who did the Burj al-Arab.
Oh My!
Since 432 Park only has 60-70 units, this exclusive and striking addition to the new development marketplace will keep many journalists in business in 2013.
101 West 87th Street
101 West 87th Street had a fun history over the last 5 years.
Stalling out as a victim of the economic downturn, this 11-story Upper West Side building will feature 60-70 units and fills a much-needed niche in the neighborhood- large, well-designed apartments, in a great location, with nice services and nice finishes.
The layouts have been completely redone from the 2008/2009 look, as has the lobby and amenities.
Compared the prices above, $4mm for 2500-3000 square feet depending on the floor seems, well, affordable.
The finishes include attractive wide-plank hardwood floors, well-conceived white baths, faced-appliances and large windows in the units.
Views along 87th, 88th and C0lumbus Avenue or East are quite nice, not floating over the area, but as a sturdy, friendly addition to the West Side.
More to come in the new year, let’s hope lots more to come!
Best, Scott