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luxury real estate project in nyc

 

The $130 Million Apartment
at 520 Park Avenue


Federico Tibytt


The projected tower at 520 Park Avenue in Manhattan, New York, is a 54 story condominium that will house only 31 apartments.


 

 

Zeckendorf Development, a real estate firm headed by the brothers Arthur and William L. Zeckendorf, announced the launch of a magnificent condominium project that will house the most expensive apartment in the history of New York City. The tower, to be built at 520 Park Avenue in Manhattan, is a 54-story condo that will host 31 homes, including a spectacular triplex penthouse valued at $130 million.

520 Park Avenue

Luxury condominiums have been some of the major real estate successes in the Big Apple in recent years. Examples such as Baccarat Hotel & Residences or One57 have attracted buyers from around the world unable to resist the temptation of having their own trophy apartment in the heart of New York. International celebrities such as Sting and Denzel Washington, as well as entrepreneurs, executives, and businessmen like Lloyd Blankfein have invested in a market that, despite the high costs of the units, continues to show a steady growth.

The 520 Park Avenue property that is attracting the most attention is a spectacular 8-room penthouse measuring 12,394 square feet, spread over the top three levels of the building. With ceiling height that exceeds 20 feet, it will feature a private pool, an exclusive 1,257 square feet terrace, and panoramic views of Central Park and the city's iconic neighborhoods. See more about architecture, designs and homes here.

520 Park Avenue

Apart from this stunning "mansion in the sky", the building will offer seven 10,000 square feet duplexes, each with a price of $67 million. The rest of the tower consists of single 4,600 square feet apartments, which will cost approximately $16 million. Its design has not skimped on luxuries, and to ensure maximum satisfaction, the building will have all the amenities of a 5 star hotel.

The prestigious Robert A. M. Stern studio, responsible for other landmark buildings in New York, designed the tower. "The design by the architects at Robert A. M. Stern reflects the best of the city’s architecture in a real estate development of the 21st century", said Arthur Zeckendorf.

520 Park Avenue

After paying around 30 million dollars for the airspace belonging to the church located at the corner of 60th Street and Park Avenue, the city government finally approved the project, and its commercialization will begin in early 2015. The delivery date is scheduled for late 2017.

"520 Park Avenue will establish a new standard of elegance in the Upper East Side of Manhattan," said William L. Zeckendorf. "We are confident that this luxurious residential building will become an icon in this emblematic and celebrated New York neighborhood."


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