The first closings have come in for Toll Brothers City Living’s condominium, 55 West 17th Street. The 19-story building lies at the junction of Flatiron’s Ladies’ Mile and Chelsea where closing prices average $2,264 per square foot according to our most recent market data. In 2015, Toll Brothers City Living president, David Von Spreckelsen, foresaw a glut in large ultra-luxury condos (lo and behold) and sought to provide a more boutique collection of homes at 55 West 17th Street. Upon sales launch, prices in the building started at $1.5 million and averaged $2,200 a square foot — substantially lower Manhattan’s new development average. Additionally, 80% of the units are one- and two-bedroom apartments.
The five recorded closings consist of three low-floor one-bedrooms whose average PPSF are roughly $2,000 per square foot and sold for between $1.52M and $1.65M. Two two-bedrooms closed at an average of $2,200 per square foot and sold for $2.6M and $2.85M apiece. All the closing prices are 2 to 4 percent above ask apart from a second-floor one-bedroom.
In this article:
Recorded closings as of late April; CItyRealty
Condo closing median in Flatiron/Union Square neighborhood
The 19-story building is designed by Morris Adjmi Architects and sports a subdued cream-colored façade of handmade bricks with bronze-tone metal accents. Apartments come in a variety of simplex and duplex layouts. Active units are priced from $1.8M for a one-bedroom on the 10th floor to $10.26M for a 4-bedroom home on the 13th floor. Amenities include a fitness center, a children’s playroom, a double-height residents’ lounge with a billiards table and a dramatic spiral staircase, basement storage, bicycle parking, on-site parking and a rooftop swimming pool and deck.
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New Developments Editor
Ondel Hylton
Ondel is a lifelong New Yorker and comprehensive assessor of the city's dynamic urban landscape.
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