New York – where the sky is, literally, the limit!

The New York City skyline is amongst the most recognizable icons of modern urban life. Known throughout the world, that skyline and the city it belongs to is undergoing major changes. Much has already been made about the slim, luxurious towers rising in midtown. Their stratospheric heights and equally stratospheric prices have generated innumerable headlines and attracted the attention of some of the wealthiest people on Earth. There is little question about the dynamism of Manhattan’s real estate market, particularly if you are an oligarch or master of the universe, but many clients wonder what opportunities exist for the other 99.9%. And the answer fortunately is many! There is an enormous variety of inventory out there for those seeking a modest pied-a-terre, an apartment for their child, or a property solely for investment. 

Manhattan’s Midtown is seeing one of the most exciting new developments – a once-in-a-lifetime story. The Waldorf Towers. An American Icon. This legendary hotel, home to world leaders, royalty, movie stars and musical legends becomes New York’s finest residence. Waldorf Astoria is the epitome of glamour, romance and sophistication. Its globally renowned heritage inspires this beautiful collection of contemporary residences, defined by unsurpassed amenities and legendary service. Inspired by the hotel’s classic grandeur, internationally acclaimed designer Louis Deniot has created residences that balance modern comfort with Art Deco opulence, blending the old and the new; the European and the American; the grand and the intimate. The residences have a starting price under $2M for a studio and about $6M for a 2-Bedroom apartment. The completion for both the residences and the hotel is set for 2022. When opened, The Waldorf Astoria at Park Avenue promises to be the most stylish and expensive hotel in NYC.

And a few blocks away on the other side of Fifth avenue is the Jean Nouvel designed tower at 53 W 53 above MOMA. Nouvel’s exposed structural system, known as the diagrid, is expressed like a graceful, abstract piece of sculpture creating one-of-a-kind residences unlike any other in the world. Panoramic views of Central Park, Hudson River and the NY skyline can be seen through floor-to-ceiling windows. This location is considered part of the famed Billionaires Row. The pinnacle of NY living. A short walk to Fifth Avenue, St Patrick’s Cathedral and all the world’s finest shopping. Prices range from $6M for a 2-bedroom apartment.

Midtown South is also seeing some very interesting developments. The newly completed tower at 277 Fifth Avenue offers a wide range of 1- and 2-bedroom apartments, and then more extravagant private floor and penthouse units. These start at just above $1M which is extremely competitive given the central location. In the very heart of Nomad, at the crossroads of Manhattan’s East and West side, Uptown and Downtown, acclaimed architect Rafael Vinoly’s modern tower soars 55 stories above 5thAvenue. Steps from Madison Square Park, the most sought after and enviable neighborhood, Nomad is the epicenter of innovation in NY. Floor to ceiling windows grace the full perimeter of the residence. This is an excellent long-term investment and potentially ideal for parents who wish to buy for their children, many of whom will be working nearby.  

If one favors a slightly more downtown location, then the new 30-story tower Greenwich West at 110 Charlton offers stunning Statue of Liberty and Hudson views. The interior has been carefully conceived by Parisian architect Sebastian Segers. Located at the confluence of three of NY’s most exclusive and sought-after neighborhoods – West Village, Tribeca, Soho – a vital and eclectic lifestyle awaits. The building is adorned in an elongated brick and recedes gracefully with setback terraces and nuances like Art Deco inspired corners. With both Manhattan and Hudson River views framed by the building’s signature windows you may never want to leave your elegant home, but it’s what lies outside that makes it the most appealing to a newcomer. The pricing starts from $1.6 M upwards. 

 Another alternative might be the exquisitely designed Greenwich Lane, which occupies a prime spot in the West Village – New York’s favorite location. Occupying half a block and comprising five adjoining brick buildings of varying heights, the feeling is gracious, warm, and in accord with the historical surroundings. One of the best features of living at Greenwich Lane is the courtyard shared by all the buildings and lined with birch trees and bluestone benches. It is truly an oasis in the city and a lucky few still have the opportunity to purchase one of the smaller, one- and two-bedroom units on the market ranging from $3M to $8M.

In the general vicinity at 18th Street is The Lantern House enlightened living by Related and designed by Heatherwick Studio. Clad in handsome brick and warm bronze, this 22-story condo flanks the High Line Park in the most desirable part of West Chelsea and minutes away from the Hudson River Park, Meatpacking District and the West Village. Dramatic three-dimensional bay windows are in every room. Prices start at $1.6M for a 1-Bedroom apartment.

Just opposite the United Nations on the far Eastside is One United Nations Park designed by Richard Meier. This iconic 43-story tower is clad in black glass. Located just South of the UN headquarters along the East River. One of its most distinguishing features – a clear glass cut out on the 28thfloor lights up at night and is visible from across the River. Prices range from $1.5M upwards. This prestigious location is targeted to Diplomats, Ambassadors and those connected with the UN. 

Near the Lincoln Center, the most recognizable hub of the Westside, on 61st street is The Park Loggia offering treasured homes a few feet away from Central Park. The Park Loggia feels like individual homes. Oversized windows and loggia deliver picturesque Manhattan scapes. Steps away from The Metropolitan Opera and Central Park it’s truly a cultural center. Prices start from $1.6M. 

The western edge of Manhattan is undergoing a radical transformation. The waterfront is home to some spectacular developments starting with the Waterline Square. This is a dynamic collection of three distinct towers surrounded by a curated new park that brings lush landscapes through the towers and connects them to the city. Spanning a full city block between 60th and 61st streets at Riverside Boulevard, the bold architecture gives special prominence to outdoor spaces. The cascading facade sweeps from the west to the east offering incomparable views of the Hudson River. Prices start at just under $2M. The Waterline Club, a truly extraordinary collection of indoor amenities offers nearly 90,0000 square feet of thoughtfully programmed amenities. 

A little bit south at Hudson Yards however, a city within a city is rising. The redevelopment of Hudson Yards is the largest private real estate development in U.S. history. The former Manhattan rail yard had languished for half a century, but no more. The area features 17M square feet of commercial and residential space, 5 state- of-the-art office towers, over 100 shops, 5,000 residences and 14 acres of public space. This will be the Northern end of Manhattan’s fabled elevated park. The residences at 15 Hudson Yards start at just under $2M. Designed by Diller Scofidio +Renfro in collaboration with the Rockwell Group, the building offers over 40,000 square feet of amenities on three floors.  Included within its perimeter is The Shed, a cultural center offering a wide range of performing arts, The Vessel, a structural visitor attraction and The Edge, the highest observation sky deck in the Western Hemisphere.          

Real estate in Manhattan admittedly does not come cheap. But these properties represent value and excellent quality in a market that appears to be moving from strength to strength. Fortunately, developers are mindful that there is a clientele beyond the Forbes’ 500 and these unique residential projects are a testament to that.

In times gone by, in the pre-pandemic days, New York was officially the second home to the world. These days will return as more than ever, international buyers are vying for trophy properties in the Big Apple. While members of the global jet set have always held the city in high regard the current demand is subdued. That New York is generally a value compared to other global capitals is just part of the story. The greater draw for the world’s most discerning clients is undoubtedly the real estate itself.  

In the 1920’s, developers in New York defined truly grand apartment living. The dignified buildings of that period, including The River House and the twin-towered San Remo, set a standard of grandeur that could never be surpassed. Until today. Fast forward to 2019 and we find developers enlisting headline architects to improbably raise the bar and create a new generation of castles in the sky. Luxury living in Manhattan has entered another golden age, one distinguished by an incredible array of offerings! From Uptown to Downtown, from modern to traditional there truly is something for every taste. 

We will start in the clouds, over 1,000 feet above street level, in the epicenter of Manhattan. There we find two already iconic skyscrapers – 432 Park Avenue and One57 – buildings at the very top of the global property market. 432 Park Avenue is in fact the tallest residential building in the Western Hemisphere. Though it rises over 96 stories, the minimalist tower of white concrete has only 115 units. Architect Rafael Vinoly has designed residences of Palladian proportions, with 12’6 foot ceilings, incredible entertainment expanses, and heart stopping views through 10×10 foot windows taking in Central Park, the Hudson River, the East River, and well beyond. At the top of the building are private floor apartments of over 8,000 square feet, from which one can see out over the Atlantic Ocean. The building has 30,000 square feet of amenities including a private restaurant, fitness center, spa and services worthy of a five-star hotel. The residences at One57 meanwhile actually sit atop a hotel, the new Park Hyatt no less. Set in a breathtaking glass tower designed by Christian Portzamparc, the apartments inside offer walls of light, airplane views, and the experience of being one with the sky.  Understandably the building has already set quite a few records, with several contracts signed in excess of $90M.  

The distinctly modern designs of 432 Park Avenue and One57 contrast with two towers rising very nearby at 520 Park Avenue and 220 Central Park South. Though being built by different developers, both called upon architect Robert A.M. Stern who has become master of historicist mega luxury. Mr. Stern and Zeckendorf worked together before on the billionaire enclave 15 Central Park West, home to countless luminaries. A similar success is found at 520 Park Avenue, a slim, intimate tower that has only 31 apartments over sixty floors. These include 7 palatial duplexes of 9,100 square feet, 23 private floor apartments of 4,600 square feet, and of course a $130M triplex penthouse. Within a ten minute walk – presuming your chauffeur is off duty – is the site of 220 Central Park South, where a 920-foot tall tower sheathed entirely in limestone is set to rise. The immediate impression suggests that this could well become the most desirable of all these vaunted addresses. Many of the best units, which are slated to have elegant pre-war style details and epic Central Park panoramas, were already committed well before construction was completed.  

Because of the concentration of these developments around 57thstreet, many are referring to this corridor as the “Billionaire Belt.” And that will be ever more the case in a few years when constructions at 111 West 57th, 225 West 57th  get under way. But more than a few billionaires and almost-billionaires are looking elsewhere on the island. And who can blame them with such compelling offerings in downtown Manhattan. In fact, those with a taste for the Old World would take interest in the conversion of the Neo-Gothic Woolworth Building in the financial district. On completion in 1913 it was the tallest building in the world and remains one of the most distinctive features of the New York skyline. Alchemy Partners, a New York developer, has converted the top floors into 34 magnificent apartments which range from a $3.9M one-bedroom to a seven-level penthouse, dubbed “The Pinnacle”, which was on the market for $110M and is likely to set a record price for downtown Manhattan – a market that continues to go from strength to strength. One of the most successful projects anywhere in the city has been 56 Leonard Street in Tribeca, where architectural power houses Herzog and DeMeuron designed an outstanding tower of stacked glass boxes. Prospective buyers for those might well consider the recent conversion of the iconic Puck Building, located at the cross roads of Manhattan’s Nolita and SoHo neighborhoods. Once the printing facility of a lithographing company and headquarters of the old Puck Magazine, this magnificent Romanesque revival building accommodates six spectacular penthouse apartments. As with the Woolworth building, the opportunity to live in a downtown landmark is rare, if not once in a lifetime, and the privilege has a price. Units at the Puck start at $20M and go up to $60M. 

While these stratospheric properties are no doubt out of reach for most of us. Those with the means from across the globe are finding that luxurious urban living is being taken to never before seen heights in New York. Alongside marquee addresses like One Hyde Park in London and the Cullinan and Opus in Hong Kong, New York is making the most compelling contributions in the luxury race. 

The sky, more than ever before, really is the limit.