project for London-based Pritzker Prize-winning architect Rogers Stirk Harbour + Partners. Now that you know why these buildings are becoming so popular, here’s an inside look at five more new NYC structures that fit the boutique bill - from a one-of-a-kind geometric affair in Lower Manhattan’s trendy Tribeca community to the first U.S. It’s why we’ve been able to have multiple sales at over $4,000 per square foot.” “It’s selling at record-setting prices for the West Village, due to the cache and quality of the project, and the demand for projects of this scale that exists right now. “It always would have been an in-demand building given the location, large floor plans and private parking, but now the timing is particularly good given the market conditions,” says André. “And those who have been working on these types of projects for years are finding themselves in the enviable position of delivering perfectly calibrated projects into a robust market that is responding very positively.”Īlthough 17 Jane Street is finished and ready for occupancy, for instance, the design and development phase began well over 5 years ago. “Buyers are more aware of the boutique buildings that exist in the market, and more of a focus is being placed on these buildings,” he adds. André of Compass, who is handling sales for 17 Jane Street, a seven-residence, David Chipperfield-designed project in Manhattan’s West Village where high-profile folks like Jennifer Lawrence are lining up to purchase. the ‘luxury dorms’ that are highly unappealing in the current environment,” says Jim St. “The build cycle in New York City is far too long to allow developers to quickly re-adapt and construct smaller buildings that serve the needs of buyers who prefer these types of buildings vs.
Not to mention a sense of home that is largely lacking in the confines of mega-projects. Luxe boutique buildings are currently all the rage in the Big Apple, particularly in this nearly post-COVID world - buyers see tremendous value in smaller structures that allow for more privacy versus traditional skyscrapers, as well as less interaction with other individuals in common areas and amenities.
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