There are few better buildings that capture the rise and fall, and rise again of Manhattan real estate than the One Madison Park new development (23 East 22nd Street). There was a time in 2009 when One Madison Park set the record for a contract price for downtown Manhattan real estate, but troubles with the builder, the lender, the brokers, and buyers wanting out of contracts stalled the once mighty project. Before the building went into distress, a handful of units even sold, including to Warren Buffet’s son. But then everything stalled while the courts settled things out.
When things cleared it was Related Companies and HFZ Capital Group in charge and after some redesigns and renovations, the units are now finally for sale again. The 60-story glass building, now called just One Madison, has 53 residences with interiors by both Yabu Pushelberg in some, and Cetra/Ruddy in others (compare the two here). They range from $1.8 million for a studio, to $50 million for a 6,850 square foot 5 bedroom penthouse (see floorplan here).
Amenities include a lap pool, a children’s playroom, a fitness center, a spa and steam room, a screening room, a lounge and a private dining room (see them here).
Asking price per square foot seems to run from around $3,800/ft up to over $7,000/ft, which are the highest prices we have seen in the skyrocketing Madison Square Park residential market. The unobstructed views in every direction are said to be spectacular, including right over Madison Square Park, so if you get a chance for a viewing, I would take it. While sales are going on now, the building will be completed in early 2014.
Guess who’s back? One Madison (Park) new development finally restarts condo sales,