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45 East 22nd Street is a new condominium project by the Continuum Company currently in pre-construction in Mid-town South New York. The 64 storey project will have a total of 83 apartment units and it when constructed it will become the tallest building in its neighbourhood. At 777 feet the building will be about 150 higher than the nearby competing project One Madison.
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Preliminary renderings for the project were released in April, but now the company’s marketing department has provided a detailed high-resolution rendering of the building. The release of the rendering is likely part of its programme to create some marketing “buzz, ” and build enough pre-sales to permit construction to commence.
The new tower is aimed directly at the new mega-luxury condominium trend that has been sweeping New York. Buildings in the Greenwich area have been attaining prices of around US$3, 000 per square foot rising to as much as US$5, 000 per square foot for some of the latest “needle” projects overlooking Central Park.
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Formal sales are expected to launch later this year with construction to commence as well, with completion estimated for 2016. Of course, this will depend on the mega-luxury trend continuing; as with all things one day this is bound to peak, especially if developers should in the end over-build for such a very narrow market.
Even so this looks like a very beautiful building, one designed by Kohn Pederson and Fox. Indeed its cantilever feature over the adjacent property has rather more style to it than some of the other cantilevered designs planned for further uptown.
About the Continuum Company
The Continuum Company is a privately held real estate development firm based in New York City. Continuum’s core business is the acquisition and development of residential housing, both for sale and rental, office, hospitality and retail space in New York, Miami, and Las Vegas. To date, Continuum has developed more than 12 million square feet totalling over US$6 billion.
About Bruce Eichner
Ian Bruce Eichner is the Founder and Chairman of Continuum. He is a seasoned developer of urban mixed-use properties, has a proven track record in real estate spanning more than three decades. His portfolio of projects in New York, Miami and Las Vegas include City Spire, One Broadway Place, The Manhattan Club, The Royale and Montague Street in Brooklyn Heights.
Outside of New York he has developed the Continuum, a 2-tower gated condominium community in South Beach, and the Cosmopolitan, a 3, 000 room resort and casino on the Las Vegas strip.
Mr. Eichner’s career in real estate follows almost a decade as an attorney, including terms as an assistant District Attorney and program development chief of a gubernational agency during Nelson Rockefeller’s tenure.
He has been married to Leslie for twenty five years; Leslie is Chief Creative Officer of Continuum. They have two children, Lindsay and Alexandra.
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Image courtesy of 45east22.com
