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Press

2024-12-05
The Real Deal

These were Manhattan’s 10 priciest condo projects this year

Manhattan hasn’t quite shaken off the rust that has accumulated in its development pipeline. In 2023, the borough’s top 10 most expensive projects totaled just $1.3 billion, the lowest total in recent history. The 10 priciest project filings this year have a total sellout of $2.1 billion; ahead of last year’s nadir, but not by much.

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Ted Segal’s EJS Development is developing a 36-unit building with prices ranging from over $3 million to $23 million. The designer is Beyer Blinder Belle and the interior design is being done by Yellow House architects. The developer purchased three buildings for $32.5 million in 2021 to make space for the 18-story development, which netted $112.5 million in construction financing from Bank OZK last year. EJS considered building a rental tower but opted for condos with the expiration of the 421a tax breaks in 2022. The building is part of a prominent street-view in which the EJS Development and a 33-story rental building from El Ad group loom over a 110-year-old apartment that is nestled in between the two towers.