The New York Condo BlogJanuary 13, 2012There is a fascinating trend occurring in Upper Manhattan in real estate. There have been 3 luxury developments that have been extremely successful in pulling the affluent buyer to Upper Fifth on and above 96th Avenue, a location that until now was deemed less ‘desirable’.
Along with 4 East 102nd and 1212 Fifth, 1280 Fifth is one of those success stories. Curious, we spoke with CORE founder and CEO Shaun Osher for an insider’s take on this transition.
What has been the stigma surrounding “Above 96th street?”
Manhattan neighborhoods are always evolving. 96th Street is an antiquated border that once denoted the northern boundary of the Upper East Side. Central Park is just as lush and green above 96th Street as it is below and the architecture is equally as impressive. Both developers and savvy buyers recognize the value of having a Fifth Avenue address with direct park views, access to Central Park and presence along Museum Mile. It is that opportunity that is driving the growth along Upper Fifth Avenue, the newest in a long line of well-known neighborhoods that have evolved such as the Upper West Side, Chelsea, SoHo, and the Meatpacking District – all neighborhoods that are now among the most coveted in New York City.
Why do you think there has been so much development activity on Upper Fifth in the last 2 years?
Pioneering developers have recognized the opportunity to tap into the natural beauty of Upper Fifth Avenue. The area is an extension of Museum Mile and has all the benefits of northern Central Park — which is perhaps its most exquisite section of all and includes the Harlem Meer.
What differentiates 1280 from the competition?
1280 Fifth Avenue is one of the best new ground-up new development projects to come to market over the past 5 years. It is designed by one of the most renowned architects of our generation, Robert A.M. Stern, who is responsible for other iconic New York City buildings, including 15 Central Park West. With that pedigree, 1280 Fifth Avenue has no competition. The building offers direct park views, a wide variety of layouts and amenities including parking, 24-hour concierge service and a rooftop swimming pool, all at a price point that is not available anywhere else on Fifth Avenue. All of this, coupled with Central Park, offers an impressive list of qualities to buyers currently searching the Manhattan new development market for a unique place to call home.
Who is buying at 1280?
1280 Fifth Avenue is a luxury building which has attracted some of the most prominent names in business, the arts and medicine. It is richly populated by highly successful individuals with the most discerning taste.