For Real Estate — Fall Preview — Sorting House duplex terrace CREDIT: Wordsearch
“We have boots on the ground so … we can see a trend emerging two or three years out, versus only looking at data,” said Stephen Kliegerman, President of Halstead Property Development Marketing.
In the heart of Hell’s Kitchen at 318 West 52nd Street, work is underway by Howard Glatzer’s Cadence to convert part of a three-story U.S. Postal Service sorting facility from 1926 into residential condos.
Chris Noth, still otherwise known as Mr. Big from “Sex and the City” (even though the show ended in 2004), has been spotted looking at two- and three-bedroom apartments at the Sorting House.
That’s the spot at 318 W. 52nd St. where new luxury condos are being built on top of a working post office.
As the demand and pricing of available land continues to grow, developers are becoming more creative, building their new development projects on top of existing buildings.
Literally buildings on top of buildings.
The New York Post delves deeper into this new phenomenon, featuring HPDM projects 21W20, which was partially built atop an existing garage, and The Sorting House, described as the transformation of a functioning Post Office.
http://nypost.com/2016/01/28/crafty-nyc-developers-are-putting-buildings-on-top-of-buildings/
“This is a healthy sign for the market as sellers need to come back down to reality,” said Robin Schneiderman, director of business development at Halstead Property Development Marketing
More than half of the residences at the Sorting House, a functioning post office-turned-luxury condominium in Midtown Manhattan, have sold.
It is a pleasure to collaborate with the incredibly talented architects and interior designers featured recently in the NY Post. Learn more about CetraRuddy, Workshop Design + Architecture and Ben Hansen Architect, and their upcoming projects, by following the link.