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Go Inside the Newest—and Most Exclusive—Luxury Residences on the Bowery

Designed by architect Annabelle Selldorf, the five-unit condominium 347 Bowery will kick off sales this month

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Much of the talk about high-end Manhattan real estate in the past year has been about “Billionaires’ Row” and its skyscrapers filled with apartments. But not every luxury homebuyer wants to live in such a large building. For those looking for something a bit more intimate, 347 Bowery will soon hit the market with just five condominiums. Perched on the corner of East 3rd Street, at the cusp of NoHo and the East Village, the building is the latest project from architect Annabelle Selldorf, a visionary known for her elegant-yet-understated designs. While the building is currently in a “soft launch” phase, sales will officially begin at the end of May, according to listing agent Leonard Steinberg of Compass, who is handling sales and marketing for 347 Bowery. The building’s transformation—from a former Salvation Army shelter to an upscale condominium—is a testament to the neighborhood’s changing demographics. In the 1960s and 1970s, the Bowery was known as New York’s “Skid Row,” but it has become a destination for luxury homebuyers in recent years. The nearby Bowery Hotel is frequented by celebrities. MORE: You Can Buy All Five of These $50 Million Homes for the Price of One New York Apartment The Manhattan real estate company Urban Muse, which purchased the site from a Parisian hotel group in 2013, is the developer. (The firm was also behind 200 Eleventh Avenue, a Selldorf-designed condominium featuring a car elevator known as the “sky garage.” )

The five-unit condominium 347 Bowery is the latest project from architect Annabelle Selldorf. The zinc-paneled tower will feature a Kolumba brick base.

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The 13-story tower will consist of four duplex townhomes and one triplex penthouse. Retail space will occupy the first and second floors. The commercial tenants haven’t been announced, but will likely be “art- or fashion-related,” Steinberg said. Prices start at $6.5 million for a 2,546-square-foot duplex with two bedrooms and a setback terrace. Pricing for the 4,000-square-foot penthouse has not yet been released, although Steinberg expects it will be around $17 million. With nearly 20-foot ceilings, each residence will feature a handcrafted staircase made of plaster and white oak. “She [Selldorf] wanted it to be like a piece of sculpture within this extraordinary double-height space,” Steinberg said. MORE: This Is the Most Expensive Home Sold in NYC in 2016 Catwalk bridges on the upper levels will separate the master suite from the guest bedrooms; all of the units will include balconies with sunset views over downtown Manhattan. Residents will have access to a third-floor rooftop garden designed by Oehme, Van Sweden Landscape Architecture, in addition to a gated mews featuring a wall of pleached magnolias. Currently under construction, 347 Bowery is expected to be completed later this year. MORE From Mansion Global:

Write to Gina Faridniya at gina.faridniya@dowjones.com Follow Mansion Global: Twitter | Facebook | Instagram