There is no doubt that, in a city where square footage is an endangered species, height becomes a valuable commodity. Home to some of the most imposing skyscrapers in the world, New York City is getting ready to unveil one of the most ambitious architectural projects of our time.
Located at 432 Park Avenue, between 56th and 57th streets, the new colossus is being built on one of the most coveted lots in New York, the former site of the Drake hotel, built in 1926.
Scheduled for completion in 2015, the building will soar 1,460 feet above Manhattan, which makes it the tallest residential skyscraper in the Western Hemisphere. The design of the splendid tower, created by Uruguayan architect Rafael Viñoly, is based on “the purest geometric shape: the square”. Its 96 floors will be enough to overtake the Empire State Building (built in 1931 with 1,250 feet in height), but falling short of One World Trade Center with 1,776 feet as the tallest building in the U.S.
With amenities worthy of a five star hotel, 432 Park Avenue is poised to be the most luxurious residence in an area usually defined for utmost luxury and splendor, even as the apartments fight for every inch of surface. A revealing point: every square foot has a starting price of about $7,500.
Each apartment will be finished with solid oak floors, elegant Italian marble bathrooms, exquisite floor to ceiling windows and 12-foot ceilings. Potential buyers will be able customize their apartments according to their personal tastes and needs, adding additional rooms for their employees or office suites.
The building comes equipped with golf learning facilities, a 72 feet long pool, private restaurant with a spectacular terrace and splendid views of 57th Street and Central Park, wine cellars with controlled temperature, a spa, pool halls, cinemas and ballrooms.
According to the firm CIM Group, which together with developer Harry Macklowe, is in charge of the project, there is “a particular trend among young Chinese couples who are planning to enroll their children in the great schools of the Upper East Side of New York and New England, and for them 432 Park Avenue has become a point of great interest.” In fact, half of the customers who have already ventured to purchase are foreigners, and even though they remain anonymous, the press has suggested that many of them are Arab princes, Asian billionaires, Latin American tycoons and Russian barons.
Prices for the apartments range from $7 million to more than $82 million and are selling like hotcakes. Its spectacular penthouse, with six bedrooms, 7 bathrooms and a library, has already been reserved for $95 million. Contrary to speculation about the luxury market in this city, this new residential marvel comes to prove that New York is still the best city on the planet. ■