The city hasn’t accurately reverted to a go-go days of a boom, though as The Real Deal reported in a Jul issue developers are revisiting designed condominium projects and completing them — not as rentals, for a change — to accommodate a flourishing demand. In 2007, 511 condo projects were designed for Manhattan and Brooklyn. In 2012, 255 such developments are in a works and a New York Times supposing updates on some of a many closely watched ones.
Starwood Capital’s Baccarat Hotel, for example, that will have 114 hotel bedrooms and 64 condos opposite 45 stories is underneath construction during 20 West 53rd Street. At 56 Leonard Street, where Alexico laid a substructure for a designed 57-story Herzog de Meuron tower, Hines has come on board and led a large pull to secure financing. Corcoran Sunshine Marketing Group will open a project’s sales bureau by year’s end. Sales also began this month during RFR Holding’s 20-story condo acclimatisation of an unit building during 530 Park Avenue.
At One Madison Park, that has a history of trouble roughly as extensive as a 50-story building itself, Related Companies is renovating a lobby, completing construction and will expected move a units to marketplace this fall. Lastly, the Zeckendorfs’ 18 Gramercy Park is slated to strike a marketplace in September.
In a subsequent year and a half, 5 some-more high-profile projects should start sales. They embody 388 Bridge Street, a tallest building in Brooklyn, 432 Park Avenue, a city’s tallest residential tower, the Carlton House during 680 Madison Avenue, a 78-story Jean Nouvel-designed Tower Verre, during 53 West 53rd Street, and 737 Park Avenue. [NYT]