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Latest posts by Gea Elika (see all)
- Accepting the First Offer on Your Home - May 18, 2018
- FOR SALE: Consider this Before Making a Price Cut on Your NYC Apartment - May 17, 2018
- What is a Real Estate Closing Statement? - May 14, 2018
The High Line on the West Side of Manhattan, formerly a New York Cental Railroad spur up until 1999, is rising in popularity, which is helping it draw a number of real estate developments. The High Line, once facing demolition, was repurposed as a park by Friends of the High Line, a group who didn’t want to see it torn down. The City of New York hosted an international design competition, and through the contest, hired landscape architecture firm, James Corner Field Operations and architect firm, Diller Scofidio + Renfro to design the park.
The High Line runs through West Chelsea, the Meatpacking District, and Hell’s Kitchen/Clinton. The public park has popularized the area, quickly helping it become a top destination for both tourists and New York natives. It’s not uncommon to see people on their first dates, tourists, and local families enjoying the park, along with the views of the river and city from the High Line.
Image via Flickr by mr.skeleton
Because of area’s popularity, developers are hiring renowned architects to develop luxury apartment buildings with prices over $30 million per apartment. It seems as though developers can’t build quick enough, as many of the units are going fast.
Few expenses were spared for the 32-unit condo building, 500W21. This glass-structured building features open, loft-like condos with oil-rubbed bronze and limestone. Designed by Kohn Pederson Fox, the building offers residents a fitness center, a Club Room, security, storage, and a children’s playroom. Of course, it also offers residents easy access to the High Line. The residence boasts landscaping designed by internationally acclaimed Ross Roberts + Partners, who designed the landscaping to be sustainable and ecological, reaching up to 40 feet high. The condos at 500W21 are roughly $2,500 a square foot.
2. 520 West 28th Street
It would be hard not to notice this modern space-like building designed by architect Zaha Hadid. Condos in the 11-story building range from $4.6 million for a standard apartment to a $35 million penthouse. The entire building has floor-to-ceiling windows throughout all 40 units. Some suites offer private entrances, but if residents do walk in through the front entrance, they will find a double-height entrance lobby. This building, developed by Related Companies, also boasts a communal garden, an indoor pool and spa, a rooftop terrace, and a playroom.
3. 560 West 24th Street
560 West 24th Street is an art collector’s dream. The eight-unit building, designed with marble inlays, offers reinforced walls perfect for hanging art, built-in humidity controls, and lighting similar to museums and galleries. The building also offers a limestone façade and custom-designed laser cut wrought iron detail. Because of its location, the builders also had flood protection at the front of their mind and have significant protections against any potential flood damage. This building, also offering a rooftop terrace, has condos listed from $7.3 million for a two-bedroom condo all the way up to $18 million for the penthouse.
4. 239 Tenth Avenue
While this site is not yet under construction, the developer is aiming big with this $23.5 million dollar purchase. Michael Shvo, who became famous during the real estate boom for hosting flashy parties and for major marketing, purchased an old gas station site at an unprecedented $800 per square foot. Shvo considers the purchase a bargain, however, based on the potential of the lot’s location.
Shvo intends to turn the property into an art-themed condominium with retail developments that connect to the nearby art galleries. He is already stirring up interest after installing 7-foot tall trees around the perimeter of the property. Shvo wanted it to seem like an extension of the High Line while the development is in progress.
5. Soori High Line
Located at 522 West 29th, the Soori High Line is a $125 million project developed by Blackhouse & Oriel. The building, designed by Soo K Chan is in development with 11 stories. Sixteen of the 27 residences also offer private heated swimming pools. The most affordable listing does not have a pool but does include a private terrace for $3.7 million. The most expensive apartment now listed goes for $10.9 million, has two terraces and its own private swimming pool. The building also offers a fitness center and a room for private treatments, such as spa services and massages.
6. Chelsea Skybox
The Chelsea Skybox is a mixed-space, 20-story building designed by architect Beyer Blinder Belle. According to the New York Post, Israeli investor, Jonathan Leitersdorf bought the property from hotelier Richard Born. A demolition permit has already been filed to replace the current two-story building now on the Chelsea Skybox site. This 33-unit building will be a mix of event space and high-end rentals and will offer a recreational roof deck with a swimming pool. The building also offers full-floor units from the seventh floor up. The first, third, and fourth floors will all be used as retail space.
7. 505 West 19th Street
Designed by Thomas Juul-Hansen, 505 West 19th Street is a $60 million project built partly underneath the park. The front door is below the railroad bed, and the lobby offers a skylight that looks up into the High Line’s rivets. Prices run between $2,500 to $3,500 per square foot, with 25 units ranging between 1,100 square feet and 5,900 square feet. One penthouse, listed for $22 million, includes two terraces, a wet bar, a media room, and four bedrooms. The building also boasts Italian marble bathrooms.
The real estate market is booming near the High Line, making it a popular place for tourists to visit and New Yorkers to live. With developments popping up all over the area, it seems to be the new trendy neighborhood for both developers and home-seekers, with no expense spared to give potential residents luxury apartments near one of the city’s top tourist destinations. Friends of the High Line probably had no idea they would be sparking a real estate boom when they turned the railroad into the park, but its transforming the area in a big way.