The 41 New Developments Hitting The Market This Spring
New York City real estate is booming. Beyond charts and graphs and stats, another way to gauge the strength of the market is by the sheer number of new developments launching sales or leasing in a given season. Spring 2014 was action-packed, as was the fall of 2014. And the spring of 2015 looks to be no different, with at least 40 different projects hitting the market in the coming months. As the mercury on the thermometer climbs, so too does the degree of hot hot heat in the real estate market.
520 PARK AVENUE
At one point long, long ago—err, September—the penthouse of 520 Park Avenue was going to be New York’s most expensive ever. Expected to ask $130 million, the bonkers triplex penthouse atop the Robert A.M. Stern-designed tower (which looks a heck of a lot like his other project, 220 Central Park South, launching this summer). Zeckendorf began the project by amassing air rights (and a Park Avenue address) from a church on 60th Street, with the aim to build the next 15 Central Park West, and they’re well on their way. 530 Park is made up of just 23 full-floor units of about 4,600 square feet each, which will start at $16.2 million and top out at $36.35 million. Seven almost-10,000-foot-duplexeswill start at $67 million and go up to $83 million. Expect a sales launch the first week in April.