The ‘City That Never Sleeps’ is no stranger to exciting new development news. Now there is another exciting piece of NYC real estate news that is setting the luxury market. This is because Ian Bruce Eichner, the popular New York developer, is making an exciting new addition to the New York City skyline. The developer, just secured $420 million in financing for a new luxury project. The completed venture will be over 800 feet tall and feature condominium style homes. The tower will rise just south of Madison Square Park in Manhattan.
More in depth NYC real estate news coverage has found that the project has been funded mostly by Goldman Sachs Group and Dune Real Estate Partners. The project will be located at 45 East 22nd Street and is just one in a series of towers to fit the area. Once finished it is projected that this tower will charge some of the highest prices in the NYC real estate market due to its prime location. Many similar projects have been selling for far over $3,000 per square foot, and this completed venture is expected to compete with these other towers.
This new building will have 83 completed condo residences once completed, and architect Koh Pedersen Fox will be the project’s lead architect. The developer for the new building is The Continuum Company. No additional information has been released on what the completed homes will look like or what the amenities will be, although many are expecting these high-end luxury homes to have all of the bells and whistles in order to keep up with other similar projects and to necessitate the $420 million in funding. The Manhattan based project has already begun, and sales are expected to start later in the fall. This piece of prime NYC real estate even has its own website, for those who are looking for more information on the endeavor.
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