Fresh off their first major residential project in the U.S (Oosten at 429 Kent Avenue), Chinese developers Xinyuan Real Estate filed permits last week for a ground-up Hell's Kitchen condo at 615 Tenth Avenue. The company purchased the full-block site, the former home to a gas station, for $57.5 million this past January.
The project is called Hudson Garden, and Marvel Architects is tapped to design the new building. In the renderings posted by Xinyuan to their website, the building will have a rudimentary massing of seven floors, with an exterior accentuated by inset terraces and lush greenery. It will contain 82 condos across 86,328 square feet of floor area, with an additional 18,977 square feet for retail space.
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The developers told Bloomberg earlier this year that Hudson Garden will target upper middle class buyers and dual-income families from the U.S. and abroad. Citing an over-abundance of high end luxury condos, the company expects units to sell for up to $2,000 per square foot; less than Manhattan's $2,233 price per square foot for new condo development reported in our July Market Report.
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Sandra Herrera
Sandra Herrera is a writer, editor, and graphic designer based in Brooklyn, NY.
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