Starchitect condo prices grew 39 percent in 5 years, new index reveals
As part of a recent expansion of its market indices, CityRealty has pulled together a new index tracking condo prices in NYC buildings designed by starchitects. The index quantifies the extent to which buyers are willing to pay a premium for apartments in buildings designed by big-name architects such as Robert A.M. Stern, Jean Nouvel and Norman Foster.
As of this week, prices in the Starchitect Condos Index were at $3,052 per square foot, higher than prices in indices such as The CityRealty 100 (at $2,685 per square foot) and Downtown Condos (at $2,407 per square foot). Prices in the Starchitect Index have grown 4.9 percent since last year, and 39.1 percent since 2011.
While starchitect designs often grab headlines when it comes to architecture and real estate, relatively few have actually been designed and completed in New York. The index tracks prices in 37 buildings designed by 15 starchitects. Several others that are in the pipeline but not yet completed include Jean Nouvel’s 53W53, Renzo Piano’s 565 Broome SoHo and Zaha Hadid’s 520 West 28th Street.
The 37 buildings included in the index are as follows:
15 Central Park West – Robert A.M. Stern
432 Park Avenue – Rafael Viñoly
One57 – Christian de Portzamparc
Superior Ink – Robert A.M. Stern
18 Gramercy Park South – Robert A.M. Stern
173 Perry Street – Richard Meier
40 Bond – Herzog & de Meuron
The Chatham – Robert A.M. Stern
56 Leonard Street – Herzog & de Meuron
551W21 – Foster and Partners
505 West 19th Street – Thomas Juul-Hansen
50 United Nations Plaza – Foster and Partners
400 Fifth Avenue – Gwathmey Siegel
Astor Place – Gwathmey Siegel
323 Park Avenue South – Gwathmey Siegel
The Harrison – Robert A.M. Stern
W New York Downtown – Gwathmey Siegel
240 Park Avenue South – Gwathmey Siegel
SoHo Mews – Gwathmey Siegel
The Brompton – Robert A.M. Stern
Chelsea Modern – Audrey Matlock
The Greenwich Street Project – Winka Dubbeldam
Urban Glass House – Philip Johnson
100 Eleventh Avenue – Jean Nouvel
Blue –Bernard Tschumi
Windsor Park – Gwathmey Siegel
On Prospect Park – Richard Meier
One Museum Mile – Robert A.M. Stern
Number 5 – Philip Johnson
Oosten – Piet Boon and Thomas Juul-Hansen
165 Charles Street – Richard Meier
520 West Chelsea – Annabelle Selldorf
200 Eleventh Avenue — Annabelle Selldorf
HL23 515 West 23rd Street — Neil Denari
176 Perry Street — Richard Meier
Metal Shutter Houses — Shigeru Ban
V33 — Winka Dubbeldam
Access the complete index here >>
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