By Chris Hayes
New York is a city of reinvention. For better or worse, new buildings are constantly redefining the city and its skyscraper-filled silhouette. In Manhattan, recently published data has identified a growing gap between luxury property — defined as anything over $4.5mn — and the rest of the market.
“Since 2022, the average price of luxury contracts has increased 29 per cent while the rest of the market, excluding the top 25 per cent, has increased by only nine per cent” says Robin Schneiderman, managing director of Brown Harris Stevens Development Marketing, the company behind the data, which is based on final asking prices. It also shows that the average price-per-square-foot of luxury contracts reached a 10-year high in 2024.
The new luxury buildings are landmarks in their own right. 520 Fifth, by KPF architects (main picture, top), looms 1,000ft above the celebrated avenue below. It has 100 properties on offer, with ceilings up to 14ft high and 10ft windows — a one-bedroom apartment will set you back $2.37mn. Its contemporary design pays homage to New York’s architectural heritage such as the beaux-arts Grand Central Terminal, and includes extensive use of arches, setting its facade apart from other all-glass skyscrapers in the area.
One High Line, in the characteristic style of its architect, Bjarke Ingels, makes a statement with the form of the building itself. Two towers with a distinctive geometry twist in different directions, as if playfully manipulated on a 3D modelling programme. The unique twisting design gives greater privacy to each apartment than a more traditional structure would afford. And to bring a little extra flair to its shared spaces, a selection of artwork has been curated by Alex Gartenfeld, director of Miami’s Institute of Contemporary Art, adding to an interior that also features a virtual reality gaming room. A five-bedroom luxury penthouse is on the market for $50mn.
More traditional in appearance, the soaring gothic architecture of Claremont Hall by Robert AM Stern Architects aims to complement rather than upstage the campus of Union Theological Seminary by the waterfront below. Bricks were commissioned to have the desired stone-like finish, and gothic-arched windows echo those of its neighbour.
The same appetite for soaring skylines, characterful design and ample amenities can be found in Brooklyn, too. Morris Adjmi Architects’ The Huron in Greenpoint is a 13-storey building with historical charm, parallel to the East River, with views over the water from its two towers, connected by a shared lobby. The building’s glass and steel construction nods to the industrial heritage of the location while the use of rough brick evokes the surrounding former warehouses.
Close to a new 11-acre public park, One Domino Square, by Selldorf Architects, also comprises two significant towers — the South has 400 homes, while the North has a further 160. These range from studios to four-bedroom apartments, with the top floor of each building accommodating two-storey penthouses with terraces. Its exterior is clad in a pearl-like porcelain tile that reflects the changing colours of the sky.
A landscaped rooftop, studios for boxing, weights and pilates along with a ceramics workspace and kids’ cabin are all part of the draw to The Bergen Brooklyn. Situated in Boerum Hill and designed by ODA Architecture, it includes 84 homes, from studios to two-bedroom apartments.
The Treadwell blends two classic Upper Manhattan architectural styles — art deco and romanesque revival — in a residential tower by INC Architecture & Design located on the threshold between Midtown and the Upper East Side. Named after the Treadwell Farm Historic District, its offerings are more modest in size, with only studios rather than apartments, though a three-bedroom property will still set you back $4.15mn.
Photography: Savills; Evan Joseph; William Jess Laird/Two Trees Management
