Sharif El-Gamal’s downtown condominium development, 45 Park Place, has been quietly moving forward since lining up $219 million in financing last spring. Foundation work began in earnest last summer, and since then, a crane has been assembled to propel the tower skyward. The building will be El-Gamal’s largest venture in New York City, rising 43 stories tall and bringing 50 upscale residences to Tribeca's zoning-constrained market.
As chairman and CEO of SoHo Properties, the developer has enlisted a number high-caliber designers. Michel Abboud’s SOMA Architects are the tower’s chief designers with Ismael Leyva as architects of record and Piero Lissoni handling the interior design. The glassy spire will ascend in staggered tiers that progressively list westward towards the Hudson River,. At nearly 700-foot-tall, the skyscraper will grant its residents unobstructed views over much of Manhattan.
According to a 2015 article from Bloomberg, two duplex penthouses will crown the tower and below will 15 full-floor residences ranging from 3,200 to 3,700 square feet. The presently-recorded sellout price stands at $391.9 million and average prices are anticipated to top $3,000 per square-foot which is comparable to other new construction condos at 30 Park Place and 56 Leonard. Amenities are said to include a 50-foot swimming pool, fitness center and concierge services. Closer to the ground the developer is working to build a cultural center/museum designed by 2008 Pritzker Prize-winner, Jean Nouvel.
In the coming months, once pilings are in place and the foundations walls are poured, the superstructure will begin to rise. Delivery is planned for 2018.
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