The relatively pricey Manhattan condo market was up against tough conditions last year. COVID conspired with the 2019 progressive mansion tax to shift buyer attention toward the less expensive boroughs, and Brooklyn outsold the city.
But Manhattan has been churning out consistent results this year, including luxury condos in the $5m+ range. And more options are on the way for buyers looking at the Big Apple’s offerings.
Marketproof tracks condo buildings, including those under construction, currently selling, and those that have moved on to resales. Below we’ve selected six Manhattan projects that recently had their offering plans accepted. They are likely to begin sales soon.
The buildings vary in expense. While most have an average PPSF of about $2,000, a Casco building in West Chelsea has an average asking PPSF of $4,144. Some units will likely go for under $1m, while others are asking for more than $50m. And they span Manhattan’s neighborhoods from Chelsea to Yorkville.
Here they are, in no particular order.
1. 244 East 52nd St
This Turtle Bay building is slated to be built by 2022. The city accepted Minrav Development’s offering plan six months ago. The asking prices for the building’s 15 units vary from $1.25–6.29m. That works out to just about $2,000 psf for three one-beds, six two-beds, five three-beds, and one four-bed. Isaac & Stern is the architect.
2. 101 West 14th St
Construction on this Chelsea condo will likely conclude next year. ODA Architecture designed the Gemini Rosement building. It will offer 44 units priced between $995k–9.5m. That includes 18 one-beds, 21 two-beds, four three-beds, and a four-bed penthouse. The average asking PPSF is $2,538. Nest Seekers is spearheading sales.
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3. The 101
The 101 at 101 East 2nd St in the East Village is a Rybak Development and BK Developers project. The city accepted their offering plan a year ago, and construction is slated to end this year. Zproekt is the architect, and Compass is leading sales. The building has 22 units across seven floors with asking prices of $895k–3.29m. That works out to a PPSF of $2,028. Among the units are five studios, 10 one-beds, six two-beds, and one three-bed.
4. Manor 82
This building at 333 East 82nd St in Yorkville is scheduled to be built by next year. Rybak Development is behind the project, for which Zproekt is the architect. The building has 21 units with an asking price range of $1.4–6.97m. It will have four one-beds, nine two-beds, six three-beds, and two four-beds. The average asking PPSF is $2,197.
5. 128 East 28th St
This Nomad project is slated to finish construction next year. Its offering plan was accepted in late 2019. Sinha is the developer and TRA Studio the architect. The building will have 11 units priced at $2.4–5m. Ten of those are two-beds, one a three-bed. The average asking PPSF is just shy of $2,000.
6. 540 West 21st St
This West Chelsea project is supposed to finish construction this year. The Casco building will have 34 units with an asking price range of $3.4–58m. Adamson Associates is the architect. Among the building’s units are six one-beds, 12 three-beds, ten four-beds, and six five-beds. With an average asking PPSF of $4,144, it’s the most expensive on our list of Manhattan condos.
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Photo above courtesy of 540 West 21st St.
