crisis. the bubble. the pressure. Whatever you want to call the current housing climate, the good news is that more concrete and steel boxes will hit the market soon.
About 1,108 new housing units will be listed in about a dozen buildings in Manhattan by the end of the year, according to Robin Schneiderman, managing director of Brown Harris Stevens Development Marketing.
This number increases several times when outer neighborhoods are counted – however, the citywide inventory is lower than it was before the pandemic and even over a decade ago. Less than 6,000 units are available for the first time since before the pandemic.
“If Manhattan continues its 2021 annual pace of selling more than 2,000 units, there will be fewer options for new development buyers through 2023 and beyond,” Schneiderman said.
The good news is that upcoming new developments offer a lot to write home about.
Along the High Line, the Bjarke Ingels-designed XI is parked at 76 11th Ave. Since its developer is gone. Now, with the new ownership, construction is underway again on the two twisty towers, which hold 87 and 149 units respectively, and sales could launch as soon as this year.
Meanwhile, the relaunch of the 450 Washington, related to the former Truffles Tribeca rental building on the West Side Highway, could begin selling before the end of the year. Another brand is Selene located at 100 E. 53rd St. It launches sales and reopens the Michelin-starred restaurant Le Jardinier. Near Madison Square Garden, a brand new tower is being launched at 300W 30th Street with 69 units starting at $950,000.
This is just a taste of the movement coming into town this year. Here is a look at the hottest new buildings that will go on sale in 2022.
Size matters to JDS, the developer behind Brooklyn’s tallest new building called, aptly, the Brooklyn Tower. Measuring 92 stories—just 10 stories shy of the Empire State Building—with 547 units, the mixed-use skyscraper sits on a triangular plot on DeKalb Street near Flatbush Street.
The tower opened later this summer, and launched sales of 150 units last month.
It also has 450 apartments for rent, all starting on the 52nd floor. The project, which first began in 2018, was designed by SHoP Architects, the masterminds behind the other giant JDS at 11 W. 57th St. in Manhattan. The hexagonal building’s interiors, which feature bronze, marble, and soaring pillars, were designed by Gachot Studios.
Amenities include 120,000 square feet of indoor and outdoor experiences such as a 75-foot outdoor pool surrounded by a massive Guastavino dome, sundeck, hammock lounge, outdoor dining with grills, lounges, fire pit, and outdoor shower.
Apartments start at $905,000 for a 438-square-foot studio and go up to $6.1 million for a 2,432-square-foot, four-bedroom, four-bathroom penthouse. The apartments feature 11-foot ceilings, black granite countertops, European white oak floors, Miele appliances, floor-to-ceiling windows, Breccia Capraia marble walls, and Bianco Dolomite hexagonal mosaic floors.
“The design of the tower is without a doubt the most impressive in the area,” said Michael Stern, founder and CEO of JDS Development. “It’s the highlight of a new arrival on the horizon and our diversified inventory accommodates many different types of buyers.”
The building is located at 393 West End Ave. On the Upper West Side it’s not far from new, but that doesn’t mean it’s not one of the newest projects of the year.
The 16-story building was originally built in 1927, and has been a renter for most of its life. But in 2018, its developers Rabina and Simon Baron Development began a massive conversion of the apartment. The project reduced the original 114 units in the building to just 88 luxury podiums that pay homage to the building’s history, while introducing modern franchises. CetraRuddy Architecture handled the design.
But it’s not just history that makes this building unique: Thanks to legal changes in 2019 that ban apartment conversions, it’s the last rental-to-apartment project the city has likely seen for many years.
Sales on the project launched in April for $3.8 million, buyers will get a 1,700-square-foot, three-bedroom, two-bath apartment, while for $7 million you can get a four-bedroom 2,700-square-foot, 3½-bath home.
Highlights include custom cabinetry with fluted glass, hand-selected assorted smoky oak, antique bronze finish, Naica quartzite countertops with delicate gold veining, European oak chevron floors, modern millwork, renovated china ceilings, and bathrooms meant to be “a reminder of the Parisian clothes. room.” Amenities include a spa for pets, “secret” gardens with formal seating, a party area, a fitness center, various lounges, and gathering spaces, including a home playroom for the kids.
“It’s a gem,” said Stephen Kligerman, president of Brown Harris Stevens Development Marketing. “Our buyers will be residing in a meticulously preserved pre-war building with access to modern interiors and amenities.”
Luxury hotel homes are everywhere and Mandarin Oriental wants you to check in forever.
Opening soon, their residences are in the middle of it all on 53rd Street.
Michael Schufe redeveloped the original Sloan & Robertson-designed building from 1926. He collaborated with Marin Architects to re-imagine the 29 storeys and 69 units. Features include dining experiences curated by Michelin-starred chef Daniel Boulud, a rooftop lounge with fire pits, fully furnished apartments, a spa with salon and the only rooftop pool on Fifth Avenue.
Inside are Molteni kitchens, custom Dornbracht champagne fixtures in 22-karat galvanized gold, Frette hotel-style bedspreads, Italian Acqua di Parma products for personal care in the bathrooms, Lavazza coffee makers and more.
Sales began in December and prices start at $2.4 million for a studio and $7.48 million for a two-bedroom apartment — and go up to as much as $15 million for one of three penthouses.
Formerly the headquarters of Gucci, the project is scheduled to be completed and to welcome residents by the end of 2022.
The Cortland, 555 W 22nd Street, Manhattan
Who said no to water show?
Designed by Robert AM Stern Architects and Olson Kundig, the 25-story, 144-unit Cortland Building is designed to look historic, but is actually brand new.
The building is located at 555 W. 22nd St. , made of handcrafted bricks for the facade (how long did that take?
Its luxury amenities include a private car playground, event hall, game room, exhibition room, double height children’s playroom, 75-foot pool, children’s pool, squash court, gym, and yoga studio.
The apartments feature high ceilings, open-plan living and dining areas, floor-to-ceiling windows with sweeping views of the water, marble fireplaces, outdoor terraces in some units, hand-polished lacquer Italian cabinetry, Statuario Belgia marble imported from Carrara, marble bathrooms by Henraux Quarry ( One of the oldest quarries in Italy), rain showers, heated floors, and more.
The building should receive its certificate of occupancy this summer.
“Cortland is truly a design-driven building that represents a wonderful collaboration between two architectural icons,” said Andrew Urchuli, Senior Vice President, Related Companies. “Classic exterior design, modern interiors, hospitality-driven amenities and a prime location across from Hudson River Park will provide a living experience only available in Cortland.”
