Keeping up with the Joneses on Park Avenue must be exhausting.
More details have emerged about a new residential building at 520 Park Avenue on the Upper East Side, whose plans include “triplex” penthouse that will cost “considerably more than $US100 million,” a source told The Wall Street Journal.
The 51-story condominium will include 30 additional units with asking prices starting at $US27 million. The building will also house a two-story health club featuring an exercise room, pool and locker rooms, a 1,800-square-foot ground floor garden, a wine cellar, and a library.
“520 Park Avenue will set a new standard for elegant design on Manhattan’s Upper East Side, and we are certain this luxury residential building will become a landmark in a treasured city neighbourhood,” said developer William L. Zeckendorf.
The building is just the latest in a string of trophy properties for Zeckendorf Development Group, who have been spinning New York real estate into gold for years. The Zeckendorf duo is behind 15 Central Park West, dubbed “the world’s most powerful address,” and a new ultra-luxury building on Gramercy Park.
For their latest Park Ave. endeavour, they spent $US30.4 million for air rights from the neighbouring Christ Church in order to achieve their desired 51-story height. Robert A.M. Stern, the architect behind 15CPW, will also design 520 Park.
Construction is expected to be completed in early 2017.
The building will join a corridor that’s come to be known as “billionaire’s row” and stretches from Broadway to Park Avenue, on and around 57th Street.
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