Real Estate Weekly
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Crowd control keeping Riverside a hot property

By Holly Dutton

Extell is putting the crown jewel in its dominance of Lincoln Square with luxury condo building One Riverside Park, the latest offering from the prolific development firm.

The 35-story luxury building first started to come together back in 2009, and is now slated for completion sometime next year.

Extell filed plans for One Riverside Park back in 2009, and the project was approved by the City Council in December of 2010.

One Riverside Park

The last of five towers to be completed, One Riverside began construction last fall, while The Aldyn, The Ashley, The Avery and The Rushmore have all been completed.

The Avery, The Rushmore and The Aldyn condo buildings have all sold out, while The Ashley, a rental building, is fully leased.

“One Riverside Park is Extell’s last and crowning achievement in luxury condominium development in Riverside South,” said Donna Gargano, senior vice president of development at Extell. “Riverside South is a thriving, new enclave on the Upper West Side, bolstered by Extell’s development in the area over the past eight years and completed rezoning of Riverside Center.”

To the south of the building, Riverside Center will feature 3.2 acres of open space, a new K-8 public school and more than 100,000 square feet of retail, shops and services.

Located just off Riverside Park on 62nd Street in Lincoln Square, the glassy building will have 219 units, with floor plans ranging from one bedroom to seven bedrooms.

“The finishes are quite luxurious and as Gary [Barnett, founder and president of Extell] likes to say, he has saved the best till last,” said Karen Duncan, director of sales at One Riverside.

“Every time he builds a new building, they just get better and better,” said Duncan.

Designed by Goldstein, Hill & West Architects with interiors by Shamir Shah Design, the building will have a swimming pool as well as two private pools — one in each of the two duplex penthouses.

One Riverside Park

The largest duplex penthouse, unit #21/22A, a 5,739 s/f seven bedroom, 9.5-bath home, is currently listed for $25.75 million.

A variety of other amenities the building offers include La Palestra, a 40,000 s/f athletic club and spa with a 75-foot swimming pool, a rock climbing wall, a full-size basketball court, squash courts, a two-lane bowling alley, a club lounge, and golf simulator.

The interior finishes will all be custom-designed by Shamir Shah Design, and each apartment will have a washer and dryer.

Sales began back in November, and the sales office was “overwhelmed with traffic” in the first two and half months, said Duncan.

“What distinguishes One Riverside Park are the very features that create value in real estate; a privileged location, phenomenal views, luxurious floor plans and finishes, and an exceptional lifestyle, all beautifully brought together by a highly capable and experienced development team,” said Gargano.

The majority of the units are two-bedrooms, while five full-floor penthouse apartments, located on the 31-35 floors, have six bedrooms each and more than 6,000 s/f of living space. Prices range from $1 million to $25 million.

In addition to the building’s host of amenities, Riverside Park, just a stone’s throw away, offers a bike path, baseball field, outdoor café and programs and movies on the pier in the summer.

And of course, Lincoln Square is known for it’s culture — Lincoln Center, The Metropolitan Opera, The New York City Ballet, and The New York Philharmonic are all within walking distance.

Median sales prices in the neighborhood are $1.9 million, while median rent is $3,900, according to Streeteasy.
“It’s gone extremely well,” said Duncan. “We’re very, very happy with the rate of sales. Some of the people that live in the neighborhood refer to it as a mini-suburbia. Not quite Westchester, but out of the maddening crowds of midtown.”

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