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Gansevoort Park Already Has High-Flying New Neighbor

The news surrounding the announcement of the Gansevoort Park seemed to center on one pressing question: will the hotel be able to make a mediocre stretch of Park Avenue South cool? To size up the prospects, we took a stroll to Park and 29th Street last night and stumbled upon a construction site literally steps away from the upcoming hotel. The plot will be the 34-story, 142-unit Twenty9th Park Madison, and information is a little scarce right now. There are rumors of $600,000 studios up to $4 million three-bedrooms, a free residents-only coffee bar, a sales office that's already open and?if this absolutely nonsensical article is to be believed?lots of Irish people. Those damn Irish! The massive rendering (check after the jump for full column-sucking glory) turned up on the Coldwell Banker Hunt Kennedy website. If there's anybody with something to gain from a luxury destination hotel springing up on the block, it has to be the early buyers at Twenty9th, right? They'll see a nice property value increase if the nabe takes off like a MePa out of hell. Or, if not, at least they'll have a pool nearby.

· Gansevoort Hotel Gang Will Mutate Park Avenue South [Curbed]
· Twenty9th Park Madison [CBHK]