Penn Station is officially moving forward with a $1.6 billion revamp after reaching a financial deal announced Governor Andrew Cuomo. The project includes redeveloping the James A. Farley Post Office into the Moynihan Train Hall and is a joint venture between Empire State Development, The Related Companies, Vornado and Skanska, who have committed $1.2 billion to the project. The MTA, Port Authority and Amtrak have committed an additional $420 million. The Related Companies, Port Authority and Amtrak will lease and operate 700,000 SF of commercial and retail space. The project will also include a 255,000 SF train hall and a 92-foot skylight to pay homage to the original Penn Station. The new station will be designed by Skidmore, Owings and Merrill. “Fifty years after the loss of the original Penn Station structure, passengers will once again experience a world-class rail hub worthy of New York,” said Governor Cuomo. Construction will start soon with an expected completion in 2020.
179-Unit, 5 Building Residential Project Proposed Along North MacQuesten Parkway in Mount Vernon
Enclave Equities is planning on developing 5 buildings, forming a 179-unit residential project along the North MacQuesten Parkway in Mount Vernon, N.Y. Two of the buildings will be 5-stories while three additional buildings will include two 5-story and one 4-story buildings. Units will range fro 600-SF, 1 bedroom units to 800 SF 2 bedroom units. The development will be located in the Fleetwood neighborhood of Mount Vernon at 525 North MacQuesten Parkway and 645 North MacQuesten Parkway. Enclave Equities is currently in the approval process and construction is expected to take about 2 years.
5 Bedroom Penthouse North Asking $48.5 Million in Ian Schrager's 50% Sold 160 Leroy Street
A new listing has hit the market at Ian Schrager's 160 Leroy Street in the West Village. The 7,750 SF penthouse is spread over 5 bedrooms and 5 bathrooms and is listed for $48.5 million, making it currently the most expensive listing in the West Village. The unit also includes a private outdoor pool and 4 wood-burning fireplaces. It is listed with Madeline Hult Elghanayan, Lauren Muss, Kirk Rundhaug and Dennis Mangone of Douglas Elliman. 160 Leroy is reportedly 50% sold and another penthouse unit is expected to ask between $75 and $80 million. The waterfront building was designed by Pritzker Prize winning architects Herzog & de Meuron, inspired by Brazilian architect Oscar Niemeyer's philosophy:
"I am not attracted to straight angles or to the straight line, hard and inflexible, created by man. I am attracted to free-flowing, sensual curves. The curves that I find in the mountains of my country, in the sinuousness of its rivers, in the waves of the ocean, and on the body of the beloved woman. Curves make up the entire Universe." - Oscar Niemeyer
160 Leroy will feature 57 condo units that were designed for modern lifestyles with open floor-plans with family life in mind. Units will feature panoramic views of the Hudson River, Freedom Tower and George Washington Bridge with tons of wall space for art collectors to display their collections. Residences will also feature private elevators, 11-foot to 13-foot ceilings and floor-to-ceiling glass to maximize light.
"The only thing that mattered to me was to turn a residential apartment into a real home. I sought to capture the details of life in the details of the architecture," says Schrager.
Amenities include a private courtyard and garden by landscape designer Madison Cox, full-time concierge, 24-hour doorman and porter, onsite resident manager, 70' pool and whirlpool spa with floor-to-ceiling glass, state-of-the-art fitness center, yoga studio, steam room and sauna, private massage rooms, recreation lounge and parking spaces availible for purchase.
Construction Update: Façade Installed at The Nevins at 319 Schermerhorn Street in Downtown Brooklyn
The façade is currently being installed at Naveh Shuster Group and Adam America Real Estate rising mixed-use project in Downtown Brooklyn, The Nevins. Located at 319 Schermerhorn Street, The Nevins will be a 21-story building rising 210 feet designed by Issac & Stern Architects as the design architect with Brent M. Porter Architect & Associates as the architect of record. The Nevins will feature 73 condominiums with ground floor retail, totaling 90,181 SF and is expected to be delivered in late 2017.
A New 6-Story, 77-Unit Residential Project Approved in White Plains
A new residential proposal by an unnamed LLC has been approved at 1 Dekalb Avenue in White Plains by The White Plains Common Council. The proposal designed by Papp Architects features a 6-story, 77-unit apartment rental residential project. The project will also feature a 10,000 SF public park and underground parking for 103 cars. 22% of the units will be rented below market rates to qualifying families who make roughly 80% of the area's median income.
Construction Update: 53W53 Designed by Jean Nouvel Nears 50% Completion
53W53, formerly known as The MoMA Tower and designed by Pritzker Prize winning architect Jean Nouvel, continues to cruise through construction in Midtown as the building has passed the 35th floor. When complete, 53W53 will rise 82-floors, meaning construction is near the 50% complete mark. The supertall is under development by Hines, Pontiac Land Group and Goldman Sachs. The tower will top out next year at 1,050-feet in 2018. It will mark 3 years since the late 2014 ground breaking and September 2015 sales launch. Hines aims to delivery 53W53 in early 2019.
53W53 will feature 145 condominiums priced between $3.17 million and $50.0 million. Interiors will be designed by Theirry Despont and will included luxurious features include statuary marble countertops and backlit backsplashes, heated Verona limestone slab floors in the bathrooms, and Noir St. Laurent marble, Peruvian golden travertine walls and 4-inch solid American Oak floors. Amenities include concierge, doorman, staffed elevator operator, cleaning service, state-of-the-art fitness center, pool, valet parking and wine cellar. The building is joined with the Museum of Modern Art, in which owners will receive a complimentary membership too. MoMA originally sold the land to Hines in 2006 for $126 million. The museum will have gallery space in 53W53 covering floors 2-5.
"A Few Good Ones Left" at Robert A.M. Stern's 220 Central Park South Including $80 Million Duplex
“We have a few good ones left,” announced Vornado Realty Trust’s chairman Steven Roth of the unit availability at 220 Central Park South in his annual letter to investors. Information on the availability of another unit at the Robert A.M. Stern designed, limestone encassed supertall, comes as an $80 million duplex on the 8th floor. It marks yet another quietly marketed, non publicly-listed unit from 220 Central Park South, being developed by Vornado on what has become known as Billionaire's Row. Vornado chairman Steven Roth has been personally screening prospective buyers. The duplex a 6-bedroom, 7-bathroom layout over close to 7,911 SF with an additional 1,095 SF of outdoor space. The 8th floor duplex is in what is considered the "Villas" part of the building at 220 Central Park South, which is separate from the supertall condo tower and "Penthouse" units. The listing comes in at $10,112 SF.
Other high-profile, utlra-luxe offerings from 220 Central Park include the $250 million, 4-floor, quadriplex which is being looked at by hedge fund billionaire Ken Griffin on the buildings 50-53 floors. The massive unit would come in at around 23,000 SF and and around $10,869 SF. There are two other units in the "Penthouse" collection asking north of $100 million. Penthouse 73, a 9,817 SF unit, is asking $100 million, at $10,186 SF; and Penthouse 76, a 8,978 SF unit which is listed for $108 million, equating to $12,029 SF. 220 Central Park South will ultimately feature 116 units over 69-floors and feature a total sell-out of $3.17 billion.
Construction Update: Robert A.M. Stern's 70 Vestry Topps Off in Tribeca
70 Vestry, an ultra-luxe Tribeca condo building designed by Robert A.M. Stern from Stephen Ross' Related Companies, has topped off and is cruising towards completion. The 14-story building is expected to be completed in 2018 and is 80% sold. 70 Vestry features a mere 46 condos with a limestone façade adding an elegant touch to the Tribeca skyline. Stern selected Beaumaniere limestone that comes from a quarry on the banks of the Seine, 150 miles south of Paris where it has been quarried in the French countryside for hundreds of years and delivers the beauty, quality and consistency that was needed at a development of 70 Vestry's stature. Other amenities have an emphasis on privacy and include a private courtyard, porte cochere entry with an automated garage, library, state-of-the-art fitness center and limestone and marble indoor pool. Its location on the West Side Highway offers breathtaking views of the Hudson River.
Check out how Tom Brady and Gisele Bündchen are upgrading their unit at 70 Vestry for a more expensive version.
Peter Marino Designed The Getty at High Line Releases New Renderings, Cruises Towards Completion
The Getty, the High Line's new condo building located at 239 Tenth Avenue, has released new renderings. The Getty , which is designed by Peter Marino and from developers Michael Shvo and Victor Group, is on track to be completed this summer. The project topped off in June 2016 and the installation of the modern, steel and glass facade has been in the works along with the buildings interiors.
The Getty features 6 ultra-luxury condos units which are expected to start at $15 million when they hit the market. Each will each have a unique full-floor layout and come complete with a Gaggenau appliance packages and luxurious finishes including 80 different kinds of stone, marble, and wood finishes sourced from across the world including Greece, Pakistan, India and Uganda. The standard layout will be a 3,300 SF single-floor residence. The building will also feature a 6,400 SF duplex penthouse that is expected to list for near $50 million that comes complete with a private pool and rooftop terrace with over 3,000 SF of outdoor space. Pricing is starting close to $4,500 and will range up. Condos will start on the building’s 5th floor, with the first few floors of the project featuring a museum dedicated to the $800 million private collection of J. Tomilson Hill, a vice chairman of banking firm the Blackstone Group. The Getty is among the most expensive buildings on the West Side and features a $140 million sell-out.
Tom Brady and Gisele Bündchen Swap Units at Related Companies' 70 Vestry
Tom Brady and Gisele Bündchen are swapping their unit at 70 Vestry for a more expensive version of the same layout one floor higher at the under construction Tribeca condo building designed by Robert A.M. Stern from Stephen Ross' Related Companies. They will upgrade from the $20 million, 11th floor, 5-bedroom pad to a $29.5 million 12th floor unit. The unit massive unit is 4,647 SF with an additional 1,892 SF of outdoor space.
70 Vestry is expected to be completed in 2018 and is 80% sold. The building features a mere 46 condos with a limestone façade adding an elegant touch to the Tribeca skyline. Stern selected Beaumaniere limestone that comes from a quarry on the banks of the Seine, 150 miles south of Paris where it has been quarried in the French countryside for hundreds of years and delivers the beauty, quality and consistency that was needed at a development of 70 Vestry's stature. Other amenities have an emphasis on privacy and include a private courtyard, porte cochere entry with an automated garage, library, state-of-the-art fitness center and limestone and marble indoor pool. Its location on the West Side Highway offers breathtaking views of the Hudson River
The Former Rendering of 3 Sutton Place by Foster + Partners
Gamma Real Estate Hires Thomas Juul-Hansen to Design 3 Sutton Place
Gamma Real Estate has hired Danish architect Thomas Juul-Hansen to design their new Midtown East skyscraper at the 3 Sutton Place site. The project they have chosen to move forward with is a 700-foot, 67-story condo tower. Gamma Real Estate closed on the $98 million deal last week, which included $86 million for the site and $12 million for air rights. They have since demolished the three tenement buildings that were on the 58th street property.
Central Park Tower Now On Rise on Billionaires' Row, Completion Estimated 2019
Extell's Central Park Tower is now on the rise on Billionaires' Row, with an estimated completion date of 2019. Developer Gary Barnett reported that Extell had secured $168 million in EB-5 funds for Central Park Tower, bringing them closer to the $1.2 billion in total funding the project is estimated to cost. Up to $340 million can be raised via EB-5 funds. Extell also brought in SMI USA, the US subsidiary of Shanghai Municipal Investment, as co-developers on the project. The supertall condominium is located at 225 West 57th street and will rise 1,550 feet. Sales will launch in late 2017, contrary to neighbor 111 West 57th Street, which has pushed their sales launch for their tower until 2018. Central Park Tower will be designed by Adrian Smith + Gordon Gill Architecture, the same team who designed Dubai's Burj Khalifa (2,722 feet), and the world’s future tallest tower, Jeddah Tower (3,307 feet) in Saudi Arabia. The building will feature a 7-story Nordstrom as the feature tenant of the ground floor retail tower.
Preview the Over-The-Top Amenities Coming to Rockwell Group & Diller Scofidio + Renfro Designed 15 Hudson Yards
The Rockwell Group and Diller Scofidio + Renfro designed 15 Hudson Yards from developers Related Companies and Oxford Property Group, features no sacrifices when it comes to luxury and an elevated living experience for residents. The developers have dedicated the 50th and 51st floors to be amenities including a 75-foot swimming pool, 3,500 SF fitness center, yoga studio, spa, sound-proof screening rooms, billiards, lounge, private dining rooms, wine storage, a golf simulator and the Atelier, a high-end co-working/ business center space. The building will also feature a High Line level lounge and a rooftop lounge with a fireplace, seating areas and dining space for 18 people. 15 Hudson Yards is the first residential building at the Hudson Yards development. The building will be an 88-story glass condo tower with units ranging from 1 to 4 bedrooms and start at $3.785 million ranging up to $32 million. 15 Hudson Yards is over 25% sold with 75 of the 285 luxury residences having sold for an average price of just under $5 million.
432 Park Avenue 81st Floor Asking $44.75 Million
After the 80th floor went under contract for $44.25 million, the 81st floor 432 Park Avenue has hit the market for $44.75 million. The supertall is under development from Macklowe and CIM Group and was designed by Rafael Viñoly. The 81st floor unit is 5,421 SF over 4 bedrooms, 6 bathrooms and features views of Central Park and Midtown Manhattan from high-above with all of the finest finishes. The 88th floor has previously closed for $60.89 million and the 85th floor at $65.6 million.
Kushner Companies Explores Bringing Zaha Hadid Skyscraper to 666 Fifth Av
One of the world's premier address', 666 Fifth Avenue has been shrouded with uncertainty as the Kushner Companies look for a large cash infusion to renovate the aging, yet iconic building. Everything from Jared Kushner's new role as a senior top advisor to President Donald Trump to the cashflow issues on the property have caused snags and confusion. Last week it appeared they had struck a deal with Anbang Insurance Group in order to help reconstruct the building into a supertall tower designed by Zaha Hadid, although talks have seemed to stall. Kushner Companies plans to move ahead with their plan to build a Zaha Hadid designed supertall at 666 Fifth Avenue with Anbang on board or not. The new proposed tower would be 1,400 SF tall and would require stripping the current structure down to the inner steel core at points to add an additional 40 floors. The project would include ultra-luxury condos which would sell for up to $6,000 SF, a hotel and over 500,000 SF of retail. Construction is expected to begin in 2019 pending the financing is sorted out and completion could be as early as 2025.