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Where Is The World's Thinnest Skyscraper Located In And How Much Is Worth …

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Where Is The World’s Thinnest Skyscraper Located In …


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111 West 57th Street, also known as the Steinway Tower, is an 84-story, 1,428-foot residential skyscraper developed by developers JDS Development Group and Property Markets Group in Midtown Manhattan, New York City. Located along Billionaires’ Row on 57th Street near Sixth Avenue, the development consists of the original landmarked Steinway Building designed in 1925 by Warren & Wetmore and a new tower by SHoP Architects.
Since beginning construction in early 2014, the development has faced significant challenges and after significant cost overruns and delays, the tower’s concrete form topped-out in April 2019, with full completion of its pinnacle expected by the end of 2020.
* 111 West 57th Street is situated on what is known as Billionaire’s Row, named for the super-wealthy investors that are driving the construction of residential towers along 57th and adjacent streets. Other luxury towers on the 57th street include 432 Park Avenue, One 57 and Adrian Smith + Gordon Gill Architecture’s Central Park Tower.
* The tower’s tapering form was inspired by New York’s iconic early-20th century towers. SHoP Architects’ describe it as “a bold interpretation of what is possible within the requirements of the Midtown Manhattan zoning envelope.”9. The project uses the “air rights” of Steinway Hall, a 96-year-old historic building that housed concert halls and piano showrooms for the famous Steinway & Sons. Steinway Hall was sold to the developers of 111 West 57th Street in 2013.
The move towards slimmer skyscrapers is a reaction of sorts to technological advancements in building construction, complex zoning laws in the city and the demand of ultra-high-net-worth individuals who want unfettered views of Central Park and beyond.
The development features two components: the landmarked Steinway Building, designed in 1925 by Warren & Wetmore, and a new 1,428 ft tower, designed by SHoP Architects. The original Steinway Building was renovated and converted into 14 condo units while the tower contains 46 condominiums, including 7 duplex units.
The north side of the tower rises directly up to the pinnacle of the building. On the south side of the tower, a series of setbacks appear as the tower rises. As the height of the building increases, the setbacks eventually thin out, with the tower “disappearing into the sky.” Vanity Fair described it as “a subtle and graceful re-interpretation in modern form of the stepped-back, “wedding cake” towers of New York’s past”.
In May 2005, Investcorp and Ceebraid-Signal purchased the one-story Ritz Fur Shop building at 107 West 57th Street for $23 million from the store’s long-time family owners along with $8.75 million for neighboring air rights. The companies planned a 35-story tower on the site with 37 residential units, three lower floors of office space and ground floor and basement retail space. In October 2006, Barry Sternlicht’s Starwood Capital Group purchased the site at 105-107 West 57th Street for $52 million with a $30 million loan from Eurohypo.
The next month, the developers installed the tallest freestanding crane in New York City history, which measured 220 feet , to construct the building. The building’s developers also chose to use non-unionized labor because of cheaper rates and because unions required developers to pay double overtime and contribute hourly pension and benefit fees.
The penthouse is currently on sale for 57$ million dollars, however, it is known that as the completion of the tower’s construction has not arrived yet, the highest apartment is expected to fetch at least 100$ million. So I’m guessing those apartments will be available to a very limited amount of people for a very short amount of time. Let the penthouse games begin.

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