New Developments Offer More Options to NYC Residents

New Developments Offer More Options to NYC Residents

A number of new residential developments are well under way in New York City. Here is a look at just a few.

One Wall Street Landmark to House Triplex Penthouse

Financial District landmark One Wall Street is undergoing an office-to-residential conversion overseen by Harry Macklowe, best known for being the developer of the 432 Park Avenue project. According to the floor plans that have been released, a top-floor triplex penthouse will sit atop the 51-story Art Deco tower. Boasting 12,965-square-feet of living space, the unit will feature four bedrooms, four bathrooms, a dining room, a library, a full-floor living room and lounge, a chef’s kitchen and a library. Each floor of the triplex will offer roughly 4,000 square feet of space with a 381-square-foot terrace at the top level.

Most of the 566 units in the development will be one- and two-bedroom units spread over two towers. These include units in the 51-story landmarked portion as well as the new 30-story south tower. Building amenities will include a dog spa, a playroom, a 75-foot pool, a library, a golf simulator, indoor and outdoor lounges and private dining rooms. The building will also be home to a 44,000-square-foot Whole Foods, which will be spread out over three floors.

Pricing for the penthouse has not been released, but the condos on the lower floors are asking between $2,000 and $2,500 per square foot. Units on the top floor are asking between $2,800 and $3,000 per square foot. These prices are 10 percent less than what is being asked for similar nearby developments.

Coney Island Development to Boast its Own Trolley

John Catsimatidis has announced that his new Coney Island development will offer a perk that generally is not included on lists of building amenities: a trolley. Under the plan, a trolley would be in place to transport residents from their home at the multi-use Ocean Dreams development to 3514 Surf Avenue and then to the Stillwell Avenue subway station in Coney Island. The San Francisco-style trolley, which would be appropriately named the Coney Island Trolley, would also be available to all Coney Islanders whether they live at Ocean Dreams or not.

Not all locals are thrilled by the idea, with some concerned that the trolley plan might interfere with the pre-existing B36 bus service. The service already transports area residents to the station, but it is a very slow trip. In addition to the trolley, the new development will be home to a drug store, a supermarket and a restaurant on its boardwalk. The development is expected to open in 2019.

Condo Next to Katz’s Deli in Lower East Side Tops Out

Nearly a year after sales launched for a condo located next to Ben Shaoul’s Katz’s Deli, the 11-story building has topped out. Made possible when Shaoul purchased a strip of single story restaurants between Orchard and Ludlow streets in 2014, the building at 196 Orchard Street will be home to 94 apartments. It will also feature a two-story Equinox gym, personal storage space, bike storage and a shared rooftop for residents. Ten of the apartments are currently on the market ranging in price from a $1.075 million studio to a $4.8 million three-bedroom apartment.