NEW YORK, NY, November 14, 2013 — Toll Brothers City Living and Equity Residential have topped off their new luxury residential building on Park Avenue South in Manhattan.
The development is a joint venture between the two developers, with Equity developing the first 22 floors as luxury rental apartments and Toll Brothers City Living the top 18 floors as condominiums.
The 40-story tower has been designed by Pritzker-prize winning, architect, Christian de Portzamparc, and will offer 269 rental apartments and 99 condominium residences when complete.
The condominium residences, developed by Toll Brothers City Living, will be called 400 Park Avenue South and will have a private entrance on Park Avenue at the same address.
The rental apartments, developed by Equity Residential, will have a private entrance on 28th Street. The building will offer a spectacular amenity package that will be accessible to all residents.
“We are thrilled and proud of our construction team for all of its hard work in topping out the building so quickly. Equity has been great to work with and we both know that this building will forever change the New York City Skyline,” said David Von Spreckelsen, the New York Division president of Toll Brothers City Living.
“Topping out is a significant milestone for both Equity Residential and Toll Brothers City Living, as it has been a truly unique opportunity to co-develop what will be one of Manhattan’s most prominent hybrid high-rise developments. We thank Lend Lease for so successfully completing this phase of construction,” said George Kruse, vice president of development at Equity Residential.
With construction commencing in the Spring of 2012, the 40-story building was topped off in just over a year, a major milestone for both developers, as well as Lend Lease, which is overseeing construction.
Construction is anticipated to be completed in the summer of 2015, with first move-ins for Equity Residential’s rental apartments beginning in late 2014/early 2015.
Toll Brothers City Living is anticipated to open its condominiums for sale in Spring 2014 from a sales gallery located at 419 Park Avenue South, with first move-ins expected in Summer 2015.