Articles on One57

Manhattan's Growing Skyline

In wake of One57, West 57th Street is becoming the hotspot for residential development. With its ideal location to Central Park, it’s no surprise that developers are choosing this area for construction. There seems to be other factors as well, drawing people to this previously desolate site. The location of West 57th street is part of a special Midtown zoning district with no height restrictions. With that freedom, developers are taking their projects to new heights which means fantastic views of Central Park and the river, and wealthier buyers.

Looking Back on 2013: Top 10 Real Estate Stories in NYC

New York City

This year was huge for real estate in New York City, as new construction soared to pre-crash levels. Before we look forward to 2014, let's count down (in no particular order) 10 of the biggest real estate stories in 2013.

Ultra-Luxe Row: the Supertall Condos of 57th Street

57th Street Luxury Condos
Image Courtesy of JDS Development

From Hudson Yards, to the World Trade Center, the skyline of New York City is undergoing some serious changes. While the previously mentioned sites primarily focus on commercial development, there’s a popular stretch of land along the southern end of Central Park that is undergoing unprecedented residential development. Here’s a look at the luxury skyscrapers of 57th Street.

Volume of Sales Slows Down at 15 Central Park West

15 Central Park West is seeing a drop in sales volume

Although 15 Central Park West has had some very impressive sales in the recent past, a recent news report has said that the volume of sales in the luxury condominium building has slowed down over the past few months. While there were 17 apartments sold at this very exclusive address in 2011, this year has seen only five apartments in the building finding buyers so far. This has been attributed to the sky-high figures being asked for the remaining condos in the building, with some real estate brokers calling some of these homes not worthy of such striking prices.

Another Tower Goes For NYC’s Tallest Record

Another challenger for the tallest luxury condo building in ManhattanNew York City is known for being home to some of the tallest skyscrapers in the country. If you thought Manhattan towers couldn’t get any taller, you were mistaken! There are residential towers currently under construction such as the 1,397-foot tower at 432 Park Avenue South which will eventually surpass the infamous 1,004-foot One57 tower once both are completed. Well, for those who marked 432 Park Avenue as the New York City’s tallest residential building, you might have spoken too soon. Beating out its skyscraper-like competitors by rising to 1,550 feet, an 88-story Extell mixed-use development plans to emerge at 217-225 West 57th Street, less than a block away from its sibling One57.

Hurricane Sandy and One57 Collide, Crane Collapses

One57 crane collapse in ManhattanWhen you’re 1,004 feet in the air, the slightest gust of wind can feel like a hurricane. One57, currently the tallest Manhattan apartment building, fared well considering the damage that Hurricane Sandy incurred on Manhattan, including ripping the facade off of a four story Chelsea apartment building. LendLease’s construction crane at the uppermost stories of the building, on the other hand, didn’t manage to survive the 50 mph gusts of wind. Within hours of the crane’s collapse at 2:35 p.m. on Tuesday, October 30th, wreckage rubberneckers took to the internet. Nearby onlookers released a video of the actual collapse and a sassy One57 Crane twitter account surfaced, humorously documenting its own absurdity. It’s easy to brush over an incident of wreckage when it looks like performance art, but if a massive piece of damaged construction is dangling precariously between blocks of billions of dollars worth of investment, the situation becomes less comical.