The average price per square foot of a Riverside Boulevard condominium increased 10 percent year-over-year to $1,552 in the fourth quarter of 2011, compared to a 4 percent gain to $1,417 in Manhattan as a whole. Sales activity rose 23 percent between 2010 and 2011 compared to 6 percent Manhattan-wide.
In January, Yankee Alex Rodriguez sold his condo in the Rushmore with an asking price of $8 million despite purchasing it just 10 months earlier for $5.5 million.
The Times noted the area has come a far way from when Donald Trump first laid down the plans for Riverside Boulevard in the early 1990s. In fact, I remember taking potential buyers over there just a few years ago. They liked the apartments but said they didn't want to wait 5 years until the area developed into a real neighborhood. It's a real neighborhood now.
Riverside Boulevard AKA Riverside South is perhaps the most exciting new community in Manhattan. The new Upper West Side coast extends along the Hudson River from West 59th Street to West 72nd Street on 92 waterfront acres, formerly occupied by the Pennsylvania Rail Road yards.
Donald Trump bought the property back in the 1970's. The buildings range from 30 to 40 stories, and the waterfront park covers 23 acres. Design standards imposed variations among the towers, and the street plan respects the existing West Side grid. The first building was completed in 1998.
|Trump Place: 240, 220, 200 Riverside Boulevard|
Trump Place was one of New York City’s first projects to offer a unique mix of richly diverse luxury amenities such as English billiard rooms, European spas, tranquil libraries & reading rooms, screening rooms, and sky terraces offering spectacular views.
With the 25-acre Riverside Park South offering waterfront bike paths, picnic and sporting areas, and an enormous public recreation pier, Trump Place completes the all inclusive lifestyle like no other neighborhood in New York. In 2000, seven acres of land stretching from 68th to 72nd Streets was added to Riverside Park, called Riverside Park South.
In 2005 The Carlyle Group and Extell Development Company purchased a large tract of land and three apartment buildings from investors and Donald Trump for $1.76 billion. The transaction included a tract of land, which is bounded by 59th and 65th Streets and West End Avenue and Riverside Boulevard, and three existing apartment buildings.
Extell developed The Avery, The Rushmore and The Aldyn. The Avery was completed in 2008 and The Rushmore in 2009. The Avery is sold out and only a few sponsor units are available at The Rushmore. However, there are currently resales available at both buildings. The Aldyn, now selling.
The buildings will be joined by several additional residential developments (Riverside Center) taking shape in the next few years.
The Avery, a 32-story building with 274 one-to-three bedroom residences, has views of the Hudson River and Riverside Park between 64th and 65th streets. Avery features a state-of-the-art fitness center that overlooks a large children's playroom, a gaming room, Abigail Michaels concierge service, an onsite parking garage and an unprecedented partnership with Lincoln Center for the Performing Arts.
The Rushmore's 16-story base gives rise to two soaring towers standing 43 stories tall. The Rushmore will offer its 289 residences world-class amenities, including La Palestra Fitness and Wellness Center, indoor lap pool, screening theater, private sundeck and an exclusive partnership with Kidville, NY.
The Aldyn, a new luxury residential 40 story building has rental apartments on the second through tenth floors and condominium apartments from the 11th floor through the 40th floor. The Aldyn Residences, Athletic Club and Spa includes 40,000 square feet of amenities overlooking the Hudson River. Sports lovers and athletes will love LA PALESTRA Athletic club & Spa designed by Roman and Williams
Six more towers with about 3,000 apartments, along with an elementary school, retail space and a hotel, are planned between 59th and 62nd Streets.
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