Manhattan House
845 West End Ave
The Aldyn
15 Union Square West
The Rushmore Riverside
515 East 72
Overview
Anybody who lives near a NYC school has probably noticed the “scene” of parents and nannies eagerly waiting to pick up their kids after school. Such is the scene at P.S. 199, located on West 70th street. However, the development of a massive residential tower directly next door, at 200 West End Avenue, steals the attention from anything else going on in the neighborhood. With its slick glass facade, it looks confusingly out of place on a block that contains mostly smaller townhouses and large, brick co-operative residences. Acting almost as a “divider” between the sweet spots on West End Avenue (north of 70th street) and the “still developing” areas south of 70th Street, it fits right in.
The development and design team of 200 WEA reads like the “Who’s Who” in New York City real estate. Developed by The Clarett Group, designed by Costas Kondylis, and managed by Bovis Lend Lease, expect this building to be thoughtfully constructed, impeccably designed, and ready for move-in ahead of schedule. Bovis and The Clarett Group delivered The Chelsea House 6 months ahead of schedule. Closings for 200 WEA are scheduled to begin in January 2008 and the entire building should be complete by March. With a 27-story tower linked to a 17-story one, this 191-unit condo is another star of excellence in these group’s portfolios. The building also looks very similar to the startling amount of condo construction going on 10 blocks south on West End Avenue, just off 59th & 60th streets.
Units and Pricing
At press time the building is just under 50% sold. However, those most desirable units (aka the ones with outdoor space and predominant river views) are gone. Do not fret, a bevy of units still exist and the earlier you arrive, the better your chances of getting a great deal will be. For example, Unit 9D, a one bedroom offered at $945,000 offers partial water view and 728 square feet of living – $1303 pp/sq ft. Unit 4B, another one bedroom, is $910,000 with 788 square feet or $1154 pp/sq ft.
Alcove studios are still available starting at $780,000 for Unit 8N. At 637 square feet, that is $1224 pp/sq ft. The business this building is relying on is the family business. Families either relocating into the city or moving out of nearby pre-wars would find modern, generous layouts with great views at 200 WEA. The taller tower of 27 floors will consist of solely 2, 3, and 4 Bedroom homes.
Unit 20C, a 2BR 2.5BA, gives the residents West (The Hudson River), South (Hell’s Kitchen), and East (Central Park…sort of) views. At 1,565 square feet, for a price of $2.45MM, the buyer would be paying a premium $1,565 per square foot. The 4-bedroom homes on the 16th floor are enormous, spacious and luxurious. With just under 3,000 square feet, expansive 270 degree views, the only hurdle would be the $4.6MM price tag. But for this kind of space in this kind of market, what is $4.6MM? A beautiful, classic UWS home, that’s what. The building has not yet received the 421-A tax abatement which they are anticipating. Common charges are approximately a dollar per square foot.
Interiors
Residences are floored with rich Brazilian Cabruva hardwood that meet floor-to-ceiling glass windows, beautifully framing either city, river, or park views. The flooring creates a clean, natural and modern look which is sure to go with every resident’s preferred style of décor. The kitchen features opaque-glass and white-oak upper cabinetry – the sales’ office model reminds you of the pristinely chosen finishes. The black granite counter tops juxtaposed with Bianco Lasa marble tile backsplashes interrupted by Viking appliances and a faucet/sink by Waterworks. Kitchens do not come with choices on finishing. This could be seen as either a let down for those buyers wishing to pick-and-choose (like you can with many other new developments) or as a complete blessing to those that either can’t make up their mind or wish to reserve marital disputes for more important issues.
Bathrooms are marble floored with slight insertions of mosaic tile. Each bathroom is equipped with a free-standing shower and Bianco Verde marble deep soaking tub. The only potential disappointment with the bathrooms–the rich walnut vanities, albeit beautiful, have the storage for the towels under the sink. Who wants to bend down to the floor to get their towel? Or who wants to store their towels so close to the floor? Also, in the units under $1M, there is no double sink. However, when you consider the fine materials appointed and the clean, modern design, you will be happy with what is chosen for you. Flawless. Warm. Beautiful. Calming.
Amenities
The building has amenities for everyone – young and old, cultured and simple. The lobby will be attended both by concierge and doorman. Parking, for an additional fee, is underneath the building – spaces are first come, first serve. And there is always on-site valet parking and hotel-style concierge service by Abigail Michaels – of Orion, 459 West 18th, and 120 Greenwich fame.
On the 3rd floor residents will find the amenities floor designed by Celerie Kemble, who also designed the lobby. At 200 WEA, Kemble uses organically inspired materials “infused with a luxurious, modern flair.” If you aren’t sure what that means, imagine being surrounded by a place where your blood pressure never rises – where even the very idea of being upset, stressed, or uncomfortable cannot exist. A well-equipped gym, yoga/pilates studio with terrace, landscaped outdoor spaces- one for adults, one for children, lounge space, media room, billiards room, and wine tasting room with a gourmet kitchen. The Wine Tasting Room was designed in collaboration with Wine Enthusiast Magazine; the most astute connoisseur would not be disappointed. All spaces are available for private functions. All of this emphasizing 200 WEA’s mission to be comfortable and sophisticated to those that will call it home.
Area
Just south of West 72nd and west of Broadway, 200 WEA has access to major shopping, dinning, public space & transportation, and entertainment, without being caught in the center of it. Shopping along Broadway and 72nd has stores such as Barney’s Co-Op, Urban Outfitters, Banana Republic, Barnes & Noble, and Bang & Olufsen. Gourmet grocer Zabar’s is walking distance as is Citarella, Fairway, and Balducci’s on 66th Street. 1,2,3 trains are at 72nd. Central Park is walkable on a beautiful day and Riverside Park is just to the west. Families will be happy with the proximity to P.S. 199 and MS 23, and Beacon & LaGuardia High Schools. The Museum of Natural History is just over on 79th and the Hayden Planetarium is on 81st.
Interesting Fact
Architect Costas Kondylis is one of the world’s most renowned. New York Living Magazine wrote, “Costas Kondylis and Partners might be the architects most responsible for the way New York City looks and lives today, and for the shape of the city for decades to come.” This quote and Kondylis’ influence should not be taken lightly. In an interview with Hellenic News, the Greek architect said this of his design process – “When we undertake a project we dream for a few weeks. The key to success is to use design characteristics that maximize the value of a building…I estimate what sort of investment the building will be. I want to be certain that the buyer, if they wish to sell in two of three years’ time, will not lose money and might even gain… If a building is designed according to current trends, when the trend discontinues the building will lose value. I keep abreast of all modern trends and I want to be a part of them.”
His honesty, foresight, and determination are instrumental in shaping this building – and should comfort buyers that when they purchase something with Kondylis’ name on it, they are purchasing something of value.
Investment Potential
New condo construction on the upper west side is a lot less common than many other neighborhoods in the city. Units with generous layouts, impeccable amenities, and an ideal location are a scarcity. 200 West End Avenue has the right mindset for the single dweller – with the wine tasting and billiards room, the concierge services and the residents lounge – and the right appointments for a family – with the children’s playroom, valet parking, and space available for parties, not to mention the proximity to museums and schools (PS 199 directly next door).
With 50% of the building still available, a Kondylis’ apartment is like a Chanel bag – it gets better with age, retains its value, forever has a demand and only so much supply. An investor would only be a smart one if they purchased a unit here at 200 West End Avenue. Kondylis’ said it himself; he wants the unit to retain its value so in 2-3 years an owner could easily resell. That should be music to an investor’s ears. We rate the building an A-.
