Condo buyers with big budgets won’t have an issue finding a home in New York City in the near future. Newly constructed condo buildings continue to surface in Manhattan and Brooklyn, and conversions are on the rise. More potential NYC homeowners are in the market for condos since many boast long lists of amenities, flexible financing options, and more lenient subletting rules than co-ops.
These condominium conversions offer luxurious benefits such as large outdoor spaces with pools, playrooms, and convenient locations in enviable sections of town, not to mention superb interior detailing.
Considered to be the first Art Deco skyscraper, the 32-story “Ralph Walker TriBeCa” will offer 161 units ranging from one to five bedrooms, smack dab in the heart of downtown Manhattan. Built in 1927, the conversion will feature more than 40,000 square feet of indoor and outdoor amenity space, as well as a fitness center with yoga and Pilates, a heated lap pool, and a spa treatment room. Prices are $2,000-plus per square foot.
Offering residents the ideal balance between historic interiors and a modern lifestyle, the Upper East Side project boasts ten residences, with only a few currently available. Designed by Alexandra Champalimaud and Beyer Blinder Belle, 33 East 74th embraces the elegance of the neighborhood and exquisite architectural nuances. Built in 1910, the condo building is pricey. Units start in the 5,000 per square foot range.
With both Central Park and Riverside Park close by, the Upper West Side is one of the most desirable neighborhoods. But believe it or not, condominium buildings (new or converted) aren’t as prevalent as they are in some other areas of town. Enter the Astor at 235 West 75th on the corner of Broadway. The 212-unit building will convert to 100 apartments in 2015, and homes are expected to start around $1.1 million, which is still fairly affordable by New York City standards.
Brooklyn Trust Company
Located at 177 Montague on the edge of Brooklyn Heights and Downtown Brooklyn, the Brooklyn Trust Company’s upper floors are slated to become 12 condo residences. Built-in 1916 and designed to resemble an Italian Palazzo, the landmark building’s prices will start higher than $3 million, which is on the high side for Brooklyn. Amenities in the plan include a music room, fitness center, rooftop deck, and even a dog spa for Fido. At this point, the Chase bank on the ground floor will remain.
325 W Broadway
Supposedly hitting the market late spring, the conversion of “The Chocolate Factory” in SoHo has been in the works since 2008. Spacious layouts, a courtyard, and gym, not to mention one of Manhattan’s coveted neighborhoods outside your door, are just a handful of reasons to live in one of the 21 units at 325 West Broadway.
For those looking for a boutique condo, the Bow Building at 242 Fifth Avenue between 27th and 28th Streets in the No-Mad district just might be a viable option for your new pad. Expect sales of the four-unit building with private outdoor spaces to launch this summer. Rumor has it that prices will start in the $3.5 million range.