Downtown Luxury Hits New Heights
A record-breaking sale may be on the horizon in Downtown Manhattan. At 80 Clarkson Street, a two-tower project by Zeckendorf Development and Atlas Capital Group, a duplex penthouse has hit the market for an eye-watering $80 million — over $11,235 per square foot. If sold at that price, it would become the most expensive unit ever sold downtown, eclipsing the $60 million record at 150 Charles.
The West Village development includes 112 condominiums with a projected total sellout of more than $2 billion. Several other listings in the building, including a $75 million full-floor residence and a $58 million penthouse, are priced far above typical market averages. The initial 83 units average over $6,200 per square foot.
Construction on the COOKFOX-designed towers is nearing completion, with a delivery date scheduled for December 2026.
A Neighboring Contrast: Affordable Senior Housing
Right next door at 570 Washington Street, an affordable senior housing project is also progressing. The 17-story building will offer 175 apartments for households earning 50% or less of area median income. The development is being financed through a mix of CitiBank, Freddie Mac, and public funds, with backing from the Jewish Association Serving the Aging.
Amenities include a community room, wellness facilities, and support services. The structure will be LEED Gold-certified and is scheduled for completion alongside 80 Clarkson in late 2026.
Midtown’s Next Generation of Ground-Up Projects
In Midtown West, Hiwin Group USA is planning a 30-story residential tower at 16 West 45th Street. Designed by Nexus Architect D.P.C., the building will house 125 units and first-floor retail. Midtown West continues to lead new development activity, with nearly half of its total built space constructed in the last two years.
Over in Midtown East, 323 East 58th Street is rising steadily. This 6-story rental building will include 15 apartments and community facility space. The concrete structure is underway, with delivery expected in 2026.
Office-to-Resi Conversions Accelerate
The office-to-residential trend continues with momentum:
64 Fulton Street in the Financial District is undergoing a transformation by Flatiron Real Estate Advisors. The team will convert the bulk of the 11-story Class C office building into 49 residential units, benefiting from a 467m tax abatement and keeping two floors for retail. Twelve units will be affordable.
In the Garment District, landlord Albert Srour has filed his sixth permit to convert office floors at 248 West 35th Street. The total proposed plan will yield 42 apartments, furthering the wave of adaptive reuse in Manhattan’s aging commercial stock.