Overall, in NYC for 2017, the luxury residential real estate market was nothing to write home about but rather on par with last year. A single Manhattan building made the year memorable for condominium sales. Central Park Tower, Gary Barnett’s 95-story tower, broke records becoming the first single Manhattan building to cross the $4 billion threshold. As per the Real Deal, here is the list of New York City’s most expensive condo offering plans accepted by the NYS Attorney General’s office in 2017.
- Central Park Tower, developed by Extell, is poised to become the most expensive condo building in Manhattan’s history. The 179-apartment tower, located at 217 West 57th Street, filed a staggering proposed sellout price of $4,016,410,000. At the top of the list by a landslide, the tower will also become known as the city’s tallest residential building.
- Second on the list is The Belnord on the Upper West Side with a target sellout price of $1.35 billion. The century old rental building has obtain permission to convert into 213 condominiums. Developer HFZ Capital Group will try to get an average price of $6.1 million per apartment.
Bizzi & Partners and New Valley are working on a new construction at 125 Greenwich Street. They are hoping for an $875 million sellout for the 77-story luxury tower. Apartment prices will range from $1.3 million to $6 million.
- The next notable project on the list is a new construction at Two Waterline Square in Lincoln Square. The projected 38-story, 160-unit condominium tower anticipates a $653 million sellout. The tower will be part of a trio of residential buildings on Riverside Boulevard, with 263 units in all. GID Development Group and Henley Holding Co. say condo prices will start at about $2 million.
- Tribeca’s landmarked clock tower building is undergoing a transformation by The Elad Group and Don Peebles’ Peebles Corporation. They hope to bring 151 condos to 108 Leonard Street, with a sellout price of $637 million.
- Victor Group and Lendlease filed to construct a new 55-story condominium tower at 277 Fifth Avenue in Nomad. The projected sellout price is $535 million. With 113 apartments, that works out to an average of $4.7 million per unit.
The Chetrit Group is converting the landmark building on 49 Chambers Street in the Financial District. The planned 14-story building will have 99 residential apartments with a target sellout price of $334 million.
- GID Development Group’s One Waterline Square also made the list. Part of a trio, the Lincoln Square building will have 56 units and a slated sellout price of $315.3 million.
- The Toll Brothers’ new construction plans were accepted for a 111-unit condo building in Tribeca. The projected 20-story building has a sellout price of $314 million.
- Last to make the list is Noho’s 40 Bleecker Street. Broad Street Development is converting two adjacent rental buildings into a 12-story, 61-unit condominium building. The ambitious sellout price is set at $288.5 million.
By: Hadassa Kalatizadeh