What’s New: These Developments Are Ready to Shake Up the NYC Market
New York PostSeptember 20, 2012Call it the perfect storm. The supply of NYC condos for sale is down (48 percent from the peak in 2008). Demand is up (with mortgage rates low and rents high). And consumer confidence has been reinstated. So says Kelly Mack, president of Corcoran Sunshine Marketing Group. Together, these factors have lead to what looks like a very promising fall for new condos.
“It is incredibly active,” Mack says of the new development market. “We’re seeing increased velocity, increased inventory, which is pushing pricing up.”
Buyers’ response to the lucky 13 new condo developments we’re featuring here today — all either just on or about to hit the market — should say a lot. Not to mention they set the stage for the next crop of new buildings, which those in the industry are already anticipating.
“You’re seeing new cranes in the city. The architects are busy again. It’s the first stage of the next wave of new development,” says Jacqueline Urgo, president of the Marketing Directors. “And sites are trading; developers are vying for the same sites. They see the strengthening of the market.”
93 WORTH ST.
Built in 1924, 93 Worth St. began as a garment factory. For the past 50 years, it has served as an office building. And now it has met its destiny — the same destiny as so many buildings in this city — as a luxury condominium. The 13-story TriBeCa building will offer 92 units, studios to four-bedrooms, priced from $1,250 to $2,000 a square foot. Amenities will include a 24-hour doorman, fitness center, playroom, lounge and 3,845-square-foot roof deck. On the ground floor will be 10,000 square feet of commercial space. Sales will start this fall. Contact: Doron Zwickel, Core Group Marketing, 212-612-9607
455 W. 20TH ST.
Part new construction, part conversion, the Brodsky Organization’s second foray into the General Theological Seminary grounds (the first was 422 W. 20th St.) will take the form of 23 condos built both in the renovated “West Building,” originally constructed in 1836, and in an adjacent new-construction building. The two buildings will be connected by a glass atrium and surrounded by an enclosed garden landscaped with trees and flagstone pathways. The one-, two- and three-bedroom units, including duplexes and penthouses with outdoor space and ranging from 1,191 to 3,790 square feet, will start at $2.2 million and have interiors by Alan Wanzenberg Architect and Design. Amenities will include a 24-hour doorman, gym, bike room and private storage. Sales are slated to begin by the end of the year. Contact: Corcoran Sunshine Marketing, 212-727-0455
752 WEST END AVE.
More than 80 years after its construction, the Paris Hotel at 97th Street and West End Avenue is being renovated into surprisingly affordable apartments with Bosch washer/dryers, marble bathrooms and red-oak flooring. Expected pricing has studios starting at $389,000, one-bedrooms at $497,000 and two-bedrooms at $895,000. Some units have terraces. Boasting a renovated lobby, 24-hour doorman and gym with pool and spinning room, the building is ready for immediate occupancy. Contact: Ariel Cohen, Prudential Douglas Elliman, 212-337-6100
101 W. 87TH ST.
One block from Central Park, a mix of 60 newly renovated and newly constructed (sometimes within the same unit!) one- to four-bedroom condos are coming. Residences will be equipped with LG washer/dryers and wide-plank European-oak floors. Kitchens will have custom white-oak cabinets, polished white quartz counters and Liebherr, Bertazzoni and Bosch appliances, plus a Summit wine cooler. Master bathrooms will offer white Calacatta marble walls and floors, double white-oak vanities and towel warmers. Units, priced from $800,000 to $7 million, will range from 657-square-foot one-bedrooms to a 3,000-plus-square-foot four-bedroom penthouse with two private roof terraces. Contact: Corcoran Sunshine Marketing, 212-877-8707
A feng shui-certified condo building in New York? It’s true. Consultant Laura Cerrano of Feng Shui Long Island has advised the developers on every facet of the design and construction of this 15-story, 48-unit Long Island City newcomer. In accordance with all things feng shui, there will be no fourth floor, residences will not have balconies adjacent to living rooms and the entrances to each apartment will not face another interior door. Whew. The studios and one- and two-bedroom residences will range from 475 to 965 square feet with prices starting at $360,000. Amenities will include a landscaped rooftop terrace, parking garage, fitness center with yoga room, entertainment room with Wi-Fi, dog spa and bike storage. Sales will launch in October, with move-ins expected in June 2013. Contact: Modern Spaces, 718-786-1063
200 E. 79TH ST.
Family-sized, indeed: Each of the 39 units in this 19-story building will have three to five bedrooms. Accordingly, there will be eat-in kitchens (designed by SieMatic), dining rooms, family rooms and laundry rooms. And higher-floor apartments will have terraces. Amenities will include a gym with children’s basketball court, Ping-Pong, ballet bar and yoga area. A lounge with a bar will overlook a landscaped terrace with a dining table and semi-private seating areas. Sales will begin in October, with prices starting at just less than $3 million. Occupancy is slated for the second quarter of 2013. Contact: Stribling Marketing Associates, 212-729-4355
Philip House — named in homage to the original patriarch of the Rhinelander family, the early New York real estate barons who built the building at 141 E. 88th St. — will have 79 condos, ranging from one to five bedrooms. They’ll feature crown moldings, wide-plank oak flooring, coffered ceilings and woodburning fireplaces designed with custom stone surrounds. Kitchens will come with bells and whistles like honed Belgian bluestone counters and stainless-steel Sub-Zero, Wolf and Miele appliances. Bathrooms will have radiant-heat flooring. Some residences will boast custom banquettes, wet bars, pocket doors, under-counter Sub-Zero wine refrigerators and six-burner Wolf ranges. Amenities will include a landscaped rooftop terrace with two club rooms offering Wi-Fi. The building also will have a gaming room with foosball table, music practice room, Technogym fitness area and storage. Pricing starts at $850,000. Contact: Stribling Marketing Associates, 212-860-4188
Located at the nexus of TriBeCa and the Financial District, this building, at 37 Warren St., has elements of both neighborhoods. The first seven stories are the conversion of a 1930s construction that once housed a seed and flower purveyor (very TriBeCa). And four new stories will be built to accommodate the penthouses (like FiDi, ever higher). The building’s 18 units, with two-bedrooms starting at $1.8 million and penthouses at $6 million, will have ceiling heights of up to 11 feet, energy-efficient windows, LG washer/dryers, dark-oak flooring and wiring for Verizon FiOS. Kitchens will have Italian oak cabinets, granite counters and Viking and Sub-Zero appliances. The marble master bathrooms will have freestanding cast-iron soaking tubs. Amenities will include a 17-foot vertical garden in the lobby, a training studio designed by the Wright Fit, a rooftop garden, a clubhouse and bike storage. Occupancy is slated for winter 2013. Contact: Barrie Mandel, Corcoran Sunshine Marketing, 212-571-3700
118 PRESIDENT ST.
This boutique four-unit renovation of a century-old brownstone in Brooklyn’s Columbia Street Waterfront District offers brownstone living without the responsibility of owning your own building. Each unit has two bedrooms, two bathrooms, open kitchens, exposed brick, washer/dryers and central air/heat. Oak floors and fireplaces round out the townhouse feel. Every unit has outdoor space and a separate storage space in the basement. Kitchens come with white Caesarstone counters and Liebherr and Bertazzoni appliances. The units, each more than 1,000 square feet, are priced from $799,000 to $1.295 million. Contact: Christina Fallon, Realty Collective, 718-924-5353
This black metal-and-glass new-construction building in Nolita plays well with the New Museum right across the street, bringing more modernity to the Bowery. The 20 one- and two-bedroom loft condos start at $700,000, and the four three- to five-bedroom duplex penthouses with private roof terraces and indoor and outdoor fireplaces go up to $5 million. Sales are underway. Contact: Fredrik Eklund, Prudential Douglas Elliman, 212-727-6158
46 LISPENARD ST.
This prewar cast-iron Baroque-style building, originally constructed by Isaac Duckworth in 1866, has become 10 condo lofts. These TriBeCa residences each have two bedrooms and 2 1/2 bathrooms, except for the penthouse, which has four bedrooms and four bathrooms. Units range from 1,920 to 4,171 square feet and from $2.65 million to $8 million. Contact: Fredrik Eklund, Prudential Douglas Elliman, 212-727-6158
112 S. SECOND ST.
Slipping in among the seemingly unstoppable growth in Williamsburg is this boutique building with eight one- and two-bedroom condos featuring floor-to-ceiling windows, bamboo floors and washer/dryers. Kitchens have stainless-steel appliances, wine coolers, tiled backsplashes and white-lacquered custom cabinets with tempered glass. Bathrooms have steam showers, soaking tubs, dual-flush toilets and custom vanities. Grohe sink fixtures complete both the kitchen and the bathroom. Amenities include a common roof area (there are also select rooftop spaces for sale). Available apartments start at $699,000. Contact: David Maundrell, aptsandlofts.com, 718-384-5304
67 LIBERTY ST.
Amid the skyscrapers in the Financial District comes this boutique building. Private elevator entrances will open up to each of the 14 one- and two-bedroom full-floor and duplex homes. Inside you’ll find gray-stained oak floors and kitchens with white mocha mahogany cabinets and Caesarstone counters. Master bathrooms will have Travertine stone walls, marble floors accented with a limestone border and bronze hardware. Soaking tubs and rainfall showers will round out the package. Units start in the $800,000s. Contact: Jacqueline Urgo, The Marketing Directors, 212-308-6777