Exciting Development Happening….In Staten Island!

Staten Island is the latest borough to see a surge in waterfront redevelopment.  Manhattan, Brooklyn, and Queens have all seen their fair share of projects ranging from Extell’s various projects on the Upper West Side to TF Cornerstone in Long Island City.  Waterfront property throughout New York City has seen a brilliant resurgence over the last two decades.  Like all redevelopment, things have not been equally distributed. Brooklyn, Queens, and Manhattan have taken the largest share of the pot, but  It appears that the tables are turning, or at least they are trying to.

Staten Island has long been known as the least desirable borough, even when compared to New Jersey.  For those of you who do not remember, Mayor Bloomberg advocated for these redevelopment plans a few years back.  Now they are starting to really take shape.  A 630-foot ferris wheel, 190-room hotel, and massive outlet mall are all expected to open in 2016.  Take a look at Empire Outlet’s “Future of Staten Island Video” for a better look at what is currently in the works just a ferry ride away from Manhattan.

Four 1000+ Ft. Buildings Are Changing New York’s 57th Street Skyline

A year ago today, the world watched as a crane dangled hundreds of feet above 57th Street. Today, the nearly complete One57 stands as a testament of luxury construction. Three more buildings are planned for the street. These buildings will not only change the real estate market, but they will change the skyline too. Take a look at this graphic for a more detailed look at the buildings.

New 1,300 Foot Skyscraper Coming To 57th Street

The development in New York is starting to get out of hand (in a good way!).  Yesterday, JDS Development’s proposal passed a final hurdle for city approval.  The New York City Landmarks Commission approved the 1,350 ft. building yesterday.  The super-tall super-skinny structure will be on the same block as Gary Barnett’s billionaire tower, 157 West 57th Street.  Here are some pictures taken from the Curbed article.

 

On a side note…I truly am beginning to think we are entering a golden age of development here.  Between the World Trade Center, The Ghery Building, 432 Park Avenue, One57, and now this project, this list of 1,000+ Ft. tall buildings in New York City is really going to be reshaping our skyline, into a skyline of the future.  Soon, the most famous skyline in the world, will be transformed into a sci-fi version of reality.  Hopefully this development is sustainable rather than a bubble ready to pop.

 

Quote of the Day

“New York City is a great monument to the power of money and greed… a race for rent.” Frank Lloyd WrightEarlier this week, I went on a run uptown and caught a glimpse at the soon to be completed One57, Gary Barnett’s latest development.  The tower’s penthouse is currently in contract for $90+ million.  The building itself has also seen its rise in popularity after Hurricane Sandy left the construction crane dangling roughly 1,000 ft. above the streets of New York.  If money, greed, and beauty were to all mix, I would say this building, and New York in general, form the perfect mosaic.