A rendering of 53W53, aka the MoMA Tower.
The new sales office at starchitect Jean Nouvel’s MoMA Tower has been unveiled, launching sales at the one of the most highly anticipated NYC residential projects of the past decade. As soon as construction at 53W53rd Street began, rumors started that the residences wouldn’t be publicly listed, but floorplans, renderings, and asking prices are all available. The apartments, which so far range between $3.17 million and $50.9 million, and indeed, the tower itself, definitely live up to the tower’s name; they are a true work of modern art.
The MoMA Tower might be the most buzzworthy luxury tower in Midtown, but it’s got a lot of equally luxurious competition. On Tuesday, Vornado Realty Trust unveiled the financials for its residential development project 220 Central Park South. The land is going for $1,500 per foot and the financial costs will run $3,500 per foot. There are already contracts for more than half of these over-the-top posh residences, with 14 penthouses at $50 million or above. A 9,500 sqft penthouse is currently asking $100 million. The luxurious amenities package follows suit, and includes a motor court, multiple swimming pools and lobbies, and a private, discreet garage.
The Attorney General’s office has reported the total projected sellout for 220 Central Park South will be near the $3 billion mark. According to Vornado CEO Steven Roth, none of the buyers’ identities have been disclosed, but domestic buyers are most heavily represented, with 45 percent being New Yorkers purchasing their primary residences.
Meanwhile, developers JDS and PMG of 111 West 57th Street have been busy inviting the city’s most powerful brokers to visit the luxury tower’s showroom in anticipation of its sales launch. Condos in the 60-unit, SHoP Architects–designed supertall tower are expected to start at $16 million. According to the Attorney General, its projected sellout will be slightly less than 220 Central Park South, at around $1.45 billion. JDS and PMG have a $735 million construction loan secured from AIG and Apollo Global Management back in June. The tower will have a base-to-height ratio of 1:20 and reach 1,418 feet, putting it in competition with Hong Kong’s Highcliff Apartments at the narrowest luxury residential building in the world.