Most stats would say yes, condo construction is slowing. But that doesn’t mean prices have been dropping. Condo prices in Manhattan for both existing developments and new construction are looking up roughly 8% this year. That’s not so shabby considering how weak the housing market has been on a national scale during 2007. Keep in mind that New York is a unique place, sort of a world unto itself, and it likes to break the rules. (more…)

Overview

We’ve been seeing more boutique projects like this popping up over the past 12 months. 330 East 57th is a wider building than its competing projects and has better floorplans as a result. The units have 3 bedrooms, 3 exposures, and loft-like dining/living spaces facing south onto 57th street. Light–which is often an issue with these floor-through apartments–is in abundance thanks to the reflective glassy exterior. The developer on the project is Francisco Rubio, and architect is Cesidio del Rio. These guys have done a nice job of putting up a handsome building (limestone, granite, and glass) on a block which is mostly large brick co-ops and rental buildings. (more…)

Overview

It’s not the very newest construction in the city, but it’s certainly some of the nicest. The Time Warner Center (formerly the AOL Time Warner Center) has multiple components including 225 fabulous condominium residences, a high-end shopping mall, the Mandarin Oriental Hotel, CNN Studios, an extensive Jazz center (part of Lincoln Center) and some incredibly fabulous restaurants. Time Warner is, of course, an anchor tenant for the commercial space as well. While everybody knows about this incredible spot, I’m surprised it’s not a more famous and popular destination at this point–nearly three years old. I suppose it isn’t all that exciting if you consider what Columbus Circle was five years ago and what it is today. But things are changing… and fast. (more…)