Thursday, September 3, 2015
New Property Projects in New York
520 Park Avenue
520 Park Avenue, 54-storey limetone tower designed by star architect Robert A.M. Stern, aims to be the next 15 Central Park West. It will have 23 full-floor residences of 4,600 square feet each ranging from $16 million to $37 million. In addition, 7 duplexes and one triplex, ranging from $70 million to $100 million.
Amenities include a garden, pool and white glove service. But unfortunately, entrance is on 60th Street (not Park Avenue).
Website: 520 Park Avenue
53 West 53
53W53, formerly the Moma Tower, will be a 1,050 ft building, a collaboration by developer Hines, star architect Jean Nouvel, Goldman Sachs and Singapore's Pontiac Land Group. Located on 53rd Street between Fifth and Sixth Avenues, it is right in the middle of Manhattan's shopping central.
One bedrooms start at $3 million, while full floor residences go up to $50 million.
100 East 53
Designed by British architect Norman Foster, 100 East 53 St is located at 53 St/Lexington Ave, across from Citigroup Center. The development marks entry of China's Vanke into Manhattan's development scene. 100 East 53 is expected to have 94 glassy condos with prices that are sure to be ultra high end.
Which development is for you?
These is just a small sampling of the upcoming new condo pipeline. Depending on your objectives and goals, we'll advise on which developments make a good fit.
It's a very exciting time in Manhattan because with new developments, buyers only put down the contract deposit at signing. Balance is due when the project is completed (12 to 18 months later). This translates into time for appreciation and magnified returns.
Wei Min Tan
New York Associate Real Estate Broker
Castle Avenue Team at Rutenberg
Wei Min on CNN, CNBC, Wall Street Journal