In New York City New Development Contracts Increase 109% In August 2021 Vs. 2020

The Lantern House
The Lantern House

421 new development contracts were signed across New York City in August 2021 an increase of 109% from 2020 and 88% from 2019. There was also a 16% gain in new development contracts from July 2021 as the market momentum continues. The most active projects in Manhattan were: the Lantern House in West Chelsea designed by Thomas Heatherwick; and 130 William in the Financial District designed by David Adjaye. [The Real Deal]

130 William
130 William

Manhattan Penthouse Sales Surge In 2021

30 Park Place Penthouse, double height loggia
30 Park Place Penthouse, double height loggia

“In Manhattan, penthouse contracts signed from Jan. 1 to May 31 of this year were the most on record since 2007,” the inception of the research data, reports Mansion Global . “A total of 222 penthouses went into contract in the first five months of the year, a 35% increase from the same period in 2019…

One of the highest-priced penthouse contracts so far this year is Penthouse 88A at 15 Hudson Yards on Manhattan’s far West Side, which went into contract asking $29.5 million earlier this month. 

Other notable penthouse transactions include a pair at the Four Seasons Private Residences at 30 Park Place in Tribeca, one went into contract in April and closed on May 26 for $18.5 million, and the other found a buyer with an asking price of $25 million on April 28. 

Also, a pair of penthouses at Lantern House in Chelsea, designed by Thomas Heatherwick, priced at $18.947 million and $16.975 million, went into contract in February and June, respectively.

Currently, the most expensive penthouse available for sale in Manhattan is the pinnacle penthouse at The Woolworth Tower Residences, listed for $79 million in March.”

Woolworth Tower, 2 Park Place, Pinnacle Penthouse
Woolworth Tower, 2 Park Place, Pinnacle Penthouse

Penthouse At 15 Hudson Yards Asking $29.5 Million Is In Contract

15 Hudson Yards Residence
15 Hudson Yards Residence

Penthouse 88A at 15 Hudson Yards is in contract. The residence was last asking $29.5 million. Penthouse sales are surging across New York City. PH 39 at 520 W. 28th St, located on The High Line and designed by Zaha Hadid, is also in contract. The residence was last asking $13.95 million. At Lantern House, 515 W. 18th St., PH 2203 is in contract, last asking $18.97 million. At 30 Park Place, PH 78B is in contract, last asking $25 million, and PH 82 has sold for $25 million. [NY Post]

520 West 28th Street Designed by Zaha Hadid
520 West 28th Street Designed by Zaha Hadid

In West Chelsea Architecture and Culture

West Chelsea
100 11th Ave by Jean Nouvel, The IAC Building by Frank Gehry, Lantern House by Thomas Heatherwick

West Chelsea is a lively mix of star architecture, townhouses, and art galleries. Located between 14th Street and 30th Street and from 9th Avenue to Hudson River Park. Notable attractions are Chelsea Market, the High Line and the Chelsea Piers Sports and Entertainment Complex. [NYT]

Richard Serra Exhibition
Richard Serra Exhibition At The Gagosian Gallery

Lantern House designed by Thomas Heatherwick is a 22 story condominium located at 515 West 18th Street. Prices range from about $1,950,000 for a 923 sqft 1 bedroom to about $16,975,000 for a 3 bedroom 2,614 sqft penthouse on the 22nd floor. Amenities include health club by Equinox, library, rooftop terrace, 75 ft saline swimming pool, private outdoor gardens, event suite and children’s playroom.

Lantern House
Lantern House And The High Line