Typically all it takes is one large fish.
The hush-hush ultra-luxury providing from Atlas Capital Group and Zeckendorf Improvement at 80 Clarkson Road is the primary Manhattan condominium venture to crack a projected sellout of over $2 billion for the reason that infamous Xi from HFZ Capital in 2018.
The 2-tower venture alongside the West Facet Freeway helped push the whole sellout for the ten most costly condominium initiatives in Manhattan above the $3 billion mark for the primary time within the final three years.
That $3 billion serves as a brand new benchmark reveals how far eliminated the town is from the boomtown years when a number of initiatives annually would cross the billion-dollar sellout threshold.
After 80 Clarkson, which represents a staggering 63 p.c of the whole sellout quantity of the highest 10 condos filed this yr, there’s not a single venture with a projected quantity of over $400 million.
A part of the low-key totals could also be because of buildings holding again on pricing all of their models. MRR Improvement’s Malabar Residence at 126 East 57th Road, for instance, solely has pricing on 38 of its 145 residential models, which explains why the venture, which sits on the jap finish of Billionaires’ Row, has a sellout of simply over $100 million.
On the similar time, prime initiatives in recent times have continued to shrink. Of the highest 10 condominium filings, half have fewer than 50 models.
The years of dwindling sellouts could also be catching up with the town, as a number of growth advertising companies are projecting record-low inventory levels heading into 2026.
Particulars on the ten most costly initiatives which are underway and filed this yr might be discovered beneath, which The Actual Deal analyzed utilizing plans filed with the legal professional basic and knowledge from New York Metropolis.
- 80 Clarkson Road | $2.2B
After years of slicing and dicing its invaluable land holdings alongside the West Facet Freeway, Atlas Capital Group partnered up with Zeckendorf Improvement to launch 80 Clarkson, the most expensive project the city has seen in years.
With Baupost as fairness companion, Atlas and the Zeckendorfs purchased out one other developer from the location with a $322 million loan from Blackstone in 2022 earlier than happening to safe the most important residential building mortgage within the metropolis for the reason that pandemic, a $985 million construction loan from Cale Road Companions and Farallon Capital Administration.
All of that financing has helped construct out a number of the most costly models in Downtown Manhattan, together with an $80 million penthouse that spans over 7,000 sq. ft.
However time will inform if all of the funding has paid off, because the constructing hasn’t reported a single contract since launching gross sales earlier this yr. Cookfox is designing the constructing, and an in-house staff led by Dan Tubb and Amy Williamson is overseeing gross sales.
- 400 East 84th Road | $328M
Associated Firms has bucked the pattern of changing buildings into leases by as a substitute turning leases into condos at The Strathmore on 400 East 84th Road on the Higher East Facet.
After securing a $100 million refinancing from Tyko Capital on the 48-story constructing earlier this yr, Associated set about changing the long-time rental constructing to capitalize on the rising demand within the Higher East Facet.
Pricing is operating comparatively inexpensive for the realm, with one bedrooms beginning at $1.1 million and the most costly four-bedroom models topping out round $5.5 million.
The 144-unit growth is being designed by Tony Ingrao and Corcoran Sunshine Advertising and marketing Group launched gross sales in October.
- 142 West twenty first Road | $170M
Yiannes Einhorn’s Grid Group is popping a former two-story parking storage in Chelsea right into a high-end condominium constructing at 142 West twenty first Road. It bought the site for $31 million in 2021.
Designed by BKSK Architects, the event, known as The Myles, options 16 parking areas for its 22 models. The priciest condominium is the Thirteenth-floor five-bedroom penthouse with a non-public rooftop spa pool, going for $17 million.
Nicole Hechter and Masayo Hashimoto of Corcoran Sunshine Advertising and marketing Group are main gross sales and advertising for the venture.
- 201 East twenty third Road | $164M
After claiming the highest two spots in final yr’s prime condominium submitting listing, Naftali Group got here in fourth this yr with its venture The Willow at 201 East twenty third Road in Kips Bay.
In 2023, Naftali paid $21.5 million to lease the site for 99 years from Snake River Improvement, an entity of BNS Actual Property. Designed by Cookfox, the 19-story brick facade can have 69 models, a non-public courtyard, rooftop terrace, health heart and screening room.
Alexa Lambert and Compass New Improvement Advertising and marketing launched gross sales in April and closings are anticipated to start subsequent yr. The constructing is greater than midway bought, based on Marketproof.
- 133 East fifty fifth Road | $132M
A three way partnership from Rybak Improvement and BK Builders is creating a 20-story condominium constructing on the corners of Lexington Avenue and fifty fifth Road.
The staff bought the location for $24 million in 2021 and secured a $52 million building mortgage from Emerald Creek Capital final yr. The venture will home 31 condos and embody facilities like a spa complicated, health heart, and outside rec space.
Costs vary from slightly below $2 million for a one-bedroom to over $10 million for a three-bedroom penthouse.
Zproekt Structure is designing the constructing and gross sales don’t seem to have launched but.
- 350 East 18th Road | $116M
A three way partnership from Israeli-based Minrav Improvement and NYC-based T&E 1 Improvement is creating a 54-unit condominium venture in Gramercy.
The builders picked up the location for $28.5 million in 2020 and secured a $63 million building from Northwind Group in 2024.
Designed by ARC Structure + Design Studio, the constructing will embody 18 parking areas, a full-time doorman, fitness center and rooftop terrace. Costs begin at beneath $2 million for a one-bedroom and as much as $6 million for a three-bedroom penthouse, which is likely one of the 14 models in contract on the constructing, based on Marketproof.
John Gomes and Fredrik Eklund of the Eklund Gomes Workforce and Douglas Elliman Improvement Advertising and marketing launched gross sales this fall.
- 24-28 West ninth Road | $115M
Ophir Sternberg’s Lionheart Capital is popping a pre-war residence constructing into 45 luxurious condos on a coveted stretch of Greenwich Village.
Sternberg purchased the property for $41.5 million in 2022 and Stonehill Taylor designed the conversion of the 1923 constructing.
Costs vary from slightly below $2 million for a one-bedroom to over $5 million for a three-bedroom penthouse with 1,270 sq. ft of outside house. Shlomi Reuveni’s Reuveni Improvement Advertising and marketing launched gross sales this fall.
- 126 East 57th Road | $111M
A growth triumvirate led by Rotem Rosen is creating the most recent Billionaires’ Row entrant, the Malabar Residences.
In 2019, Rosen, Israeli developer Zahi Hagag and Indian billionaire Anand Mahindra’s dropped almost $104 million cash on a 13-parcel assemblage. The builders then secured a $170 million construction loan from Financial institution OZK in 2022 for his or her roughly 350-foot-tall venture.
The builders have solely launched pricing for roughly 1 / 4 of the 145 models within the constructing, and costs vary from beneath $2 million for a one-bedroom to over $12 million for a three-bedroom penthouse. Designed by ODA Structure, the constructing features a health heart, swimming pool, spa pool, steam room, sauna and indoor half-basketball court docket.
The venture has moved in matches and begins. Rosen’s growth agency MRR needed to plead with a court not as soon as, however twice, to grant entry to a neighboring property with a view to proceed work on the venture.
Earlier this yr, the venture misplaced its gross sales director when Noble Black decamped to Corcoran from Douglas Elliman. Maria Mainieri took over as gross sales director, based on her web site, and is advertising the constructing together with Douglas Elliman Improvement Advertising and marketing.
- 118 West Thirteenth Road | $92M
Slate Property Group has declare to the smallest growth on the listing with their venture at 118 West Thirteenth Road dubbed The Katherine.
In 2021, Slate bought the site for $22.9 million with non-public fairness companion Avenue Realty Capital and gutted the seven-story constructing. Extremely, the 34,000-square-foot property as soon as housed 175 college students as a dorm for The New Faculty. BKSK Architects and designer Nate Berkus transformed the constructing into simply eight residences beginning at slightly below $10 million.
Seven of the models have already bought since Compass’ Leonard Steinberg launched gross sales within the spring with Compass Improvement Advertising and marketing. The remaining obtainable condominium is the top-floor penthouse, asking over $22 million.
- 114 East twenty fifth Road | $74M
Adellco has already bought by way of its 20 models on the Armorie after asserting its deliberate gross sales launch in February. The trick? Promote all of them to 1 purchaser.
The developer purchased the business constructing from crowdfunding agency Prodigy Community and Shorewood Actual Property Group for $41.3 million 5 years in the past with a view to convert it into condos.
After Corcoran Group’s Hottinger Workforce began quietly advertising the residential models within the spring, a purchaser got here ahead with a proposal to purchase them and the constructing’s business house for $71 million. The client was a non-public household workplace, Adellco founder and CEO Matthew Adell beforehand instructed The Actual Deal.
Development is anticipated to be full within the first quarter of subsequent yr and facilities will embody a fitness center, roof deck and lounge. Andre Kikoski Structure is designing the constructing.
