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Carter's View

A sales office will open in February at the 46-story condominium apartment tower now under construction by the Moinian Group and MacFarlane Partners at 627 West 42nd Street.

The mid-block tower will have 478 studio, 1-bedroom and 2-bedroom apartments ranging in price from $500,000 to $2,000,000.

Construction on the tower is now up to the 32nd floor and sales will start in January, Daphne Mayer Viders, director of communications for the Moinian Group, told today.

The tower has been designed by Costas Kondylis and will be distinguished by its four indented notches. The slab tower has all glass facades at its corners and the north and south facades have four 2-story-high protrude facade elements at the corners of the building that extend about two-thirds of the way across the facades in alternating fashion. The effect is very striking, bold and high-tech.

According to a recent press release for the project, Mr. Kondylis drew inspiration for the building design from the great ocean liners docked along Manhattan's West Side. He was quoted as stating that the "Atelier recalls the bow of a great ship interpreted all in glass with wrap-around balconies and expansive views."

The developers purchased the project, which will be known as Atelier, in June from the J. D. Carlisle Development Group and CUBS 42nd Street LLC. It will have 12,000 square feet of interior retail space and 3,000 square feet of exterior retail space as well as a 100-space garage.

The Atelier development will contain a total of about 500,000 square feet. Other amenities will include a sky-lit indoor pool, a 12,000 square-foot health club, a rooftop lounge and rooftop terraces.

The developers also have acquired the adjoining low-rise Verizon building and a gas station to the east and plan to develop those two sites with a second phase that is expected to be completed in 2009 and contain about 1-million square feet of space with about 320 condominium units and 350 rental units. The second phase will be developed on the northwest corner of 42nd Street and 11th Avenue.

MacFarlane Partners is investing in the project on behalf of its venture with the California Public Employees' Retirement System ("CalPERS") to invest in urban-infill properties in major metropolitan areas nationwide. CalPERS is the nation's largest public pension fund, with assets of $195 billion. Other New York City properties in which the firm has invested include Tribeca Green, a 274-unit apartment high-rise under construction in lower Manhattan; and The Shops at Columbus Circle, the retail component of the Time Warner Center, which opened in February 2004.
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Architecture Critic Carter Horsley Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.