Real Estate Guides

Biggest Upcoming Developments in Manhattan (Fall 2017)

Market Report provided by Nest Seekers

Fall into the new season with the latest real estate developments to hit the City. From a converted church rectory in the Upper East Side to grand scale building plans in Hudson Yards, these are some of the biggest projects that you can expect to hear more about starting this season.
 
1.)   1010 Park Avenue

After settling some disputes during the proposal period, Extell revealed its latest project located in the Upper East Side—the conversion of the Park Avenue Christian Church rectory building into an 11-story condo with outer designs handled by Beyer Blinder Belle while the interiors will be taken care of by David Collins Studios. Prices start at an estimated $15 million. Other than serving a residential purpose, space for church functions was also included in the plans. In terms of amenities, 1010 Park Avenue will feature luxuries such as a circus-themed playroom, a fitness center, a residents’ lounge, and an indoor pool.
 
 
2.)   277 Fifth Avenue


Renowned architect Rafael Viñoly’s latest creation involves a 55 story Nomad condo with 130 residential units and renderings that are notably similar to those seen in 432 Park Avenue. The building promises a large variety of amenities, including an entertainment room with a bar, a private dining room, a catering area, a fitness center, a game lounge and a kids’ room. Sales are said to launch any day now, especially after the developers, Victor Group and Lendlease, recently released the property’s teaser site. The first batch of residents are expected to move in by fall of next year.
 
 
3.)   200 E 21st Street

Back in 2015, Alfa Development purchased property on the corner of Third Avenue and 21st Street for a total of $69.5 million. This investment led to a major pay off with a soon-to-rise 21 story condo building that will house 67 condos—ranging from one to four bedrooms—with a starting price of $1.4 million each. The teams involved are BKSK Architect—who is also pushing for the design to incorporate eco-friendly elements—Champalimaud for the interior design and Halsted Welles Associates for the landscape architecture. A teaser site for 200 E 21st Street has already been launched with initial sales starting this fall.
 

 
4.)   520 W 41st Street
 
Silverstein Properties has filed plans for an estimated 106-story mega tower located at the highly developed Hudson Yards site. 499 units make up the 547,718 square feet that is dedicated to residential space while an additional 63,000 will be for commercial use. These plans were said to be a scale back from the developer’s original plan of creating a tower at 514 11th avenue that would have housed 1,400 luxury apartments while also providing commercial entities 300,000 square feet of retail space.
 
This new development is highly notable, especially as the advances of “supertall” technology in real estate construction allows megatowers to cater to buyers of all demographics. Out of the 499 units, 280 are planned to be some of the more economical options. Ultimately, this is a step forward for “mass-towers” to become more affordable to the market, which can potentially bring about a surge in demand for more properties. Based on the plans, 520 West is also known to have more units than the combined total of other residential mega towers that are currently in proposal or under construction in New York.
 
Sources:
 
https://therealdeal.com/2017/09/11/the-top-10-biggest-real-estate-projects-coming-to-nyc-5/
https://ny.curbed.com/maps/new-nyc-developments-for-sale-rent
https://ny.curbed.com/2015/1/14/10002742/extells-contested-tower-next-to-park-ave-church-is-a-go
https://ny.curbed.com/2017/5/18/15657516/rafael-vinoly-277-fifth-rendering-teaser-site
https://ny.curbed.com/2017/6/19/15828858/noho-bleecker-street-ryan-korban-condo
https://newyorkyimby.com/2014/07/revealed-520-west-41st-street.html