Residences at the forthcoming 150 Rivington are now available for purchase, the developers of the condominium on Manhattan’s Lower East Side announced Monday.
The building has a total of 45 units, ranging from one-bedroom residences priced at $995,000 to four three-bedroom penthouses at $3.8 million each. Developer Cogswell Lee and architectural firm GLUCK+ expect to complete construction in the first quarter of 2018.
The Lower East Side was identified this year by London-based real estate consultancy Knight Frank as one of three hot neighborhoods around the world to pay attention to, along with Pimlico in London and Chiyoda in Tokyo. Knight Frank cited the New York City neighborhood’s new infrastructure, amenities and restaurants, among other factors.
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Sofia Song, executive vice president at Douglas Elliman Real Estate, who assisted Knight Frank in selecting the Lower East Side for the British firm’s Wealth Report 2016, said that until recently, the area lacked accessibility, which has been improved by services like Uber and Lyft. New restaurants, boutique hotels and art galleries, along with a push to improve infrastructure and city plans to develop its waterfront, will only make the Lower East Side more attractive to luxury buyers and increase home prices, she said.
“It is the only neighborhood in New York that has yet to see a wave of development,” Song said. “It has the potential to become the next destination.”
Another project in the area is Ian Schrager’s 215 Chrystie. Designed by Pritzker Prize-winning architects Herzog & de Meuron, the building will offer 11 residences as well as housing a 370-room hotel. Apartments there range from two-bedroom units from $7.2 million to four-bedroom residences starting at $20 million, according to New Construction Manhattan.
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At 150 Rivington, units will feature floor-to-ceiling windows and will be Creston-ready, meaning residents will have the ability to control lighting, music, power shades and more through the home automation system, said the developers. The penthouses will have 13-foot ceilings and dual outdoor spaces.
“We are offering luxurious, curated apartments that serve as a natural extension of our building’s setting in a creative and cultural neighborhood with endless options,” Arthur Stern, CEO of Cogswell, said in a statement.
Common building features include a fitness center and more than 1,500 square feet of shared roof terrace space, complete with an outdoor kitchen. There will also be around 12,000 square feet of retail space on the ground floor.
Stribling Marketing is handling sales.