CityRealty Insider > New Developments in the News

New Developments in the News

AUGUST 23, 2010

Planned tower at 15 Penn Plaza shoulders in on the city’s biggest icon; The Upper West Side at 86% off.

“Would a tower be allowed next to the Eiffel Tower or Big Ben’s clock tower?” The query, from Anthony Malkin, president of Malkin Holdings and owner of the Empire State Building, was prompted by renderings of the planned 15 Penn Plaza tower at the site of the Hotel Pennsylvania at 33rd Street and Seventh Avenue. The renderings reveal an undeniable shift in the city’s skyline. Though the new 1,216-foot-high skyscraper would only come up to the 102nd floor of the Empire State Building, its mass and proximity to the familiar spire would change the city’s profile noticeably.

A number of units at The Apthorp were reported to have closed recently for significantly lower than the original asking prices–86% lower in one case. The Upper West Side condominium conversion slashed prices in 2009 after managing partners settled a court battle which threatened the project’s financial stability. Roughly 20 units have closed since May, with another 17 are set to follow.

ALSO IN NEW YORK CITY INSIDER

© 2024 CityRealty.com, LLC Powered by Leadkit Terms of Use Privacy Policy Site Map

RLS IDX Data display by CityRealty.com, LLC. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

All closed sales data has been provided by the New York City Department of Finance via the Automated City Register Information System (ACRIS). No warranty or representation is made as to the accuracy of any data provided by ACRIS or any other sources.

CityRealty is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, please contact us at accessibility@cityrealty.com.

An equal housing opportunity

{"1":[40.775,-73.94,"East Side","_es"],"2":[40.79,-73.99,"West Side","_ws"],"11":[40.76,-73.98,"Midtown","_m"],"3":[40.736,-73.99,"Downtown","_d"],"13":[40.711309,-74.01,"Financial
District\/BPC","_fd"],"4":[40.682676,-73.973007,"Brooklyn","_b"],"12":[40.8444,-73.9376,"Upper Manhattan","_um"],"5":[40.7477089,-73.930411,"LIC \/ Queens","_qns"],"18":[40.8889782,-73.9025,"The Bronx","_bx"]}