HFZ Capital has chosen Bjarke Ingels Group to design its development next to the High Lineand what a doozy it sounds like it'll be. Bloomberg details the project at 501 West 17th Street, which will rightly span the entire block bounded by 16th and 17th streets and Tenth and Eleventh avenues. The project will have two towers that will rise 28 and 38 storieswhich we pretty much already knewand have around 300 apartments, mostly two- and three-bedrooms ranging in size from 1,500 to 2,000 square feet. Although HFZ paid an astronomical $870 million for the propertysecond only to Extell's $919 million acquisition of the Riverside Center siteapartments at the development won't be asking as much as the high-profile projects around 57th Street. The apartments will ask about $3,750 to $4,000 per square foot, which will work out to starting prices south of the $4 million mark.
HFZ's principal Ziel Feldman told Bloomberg that he aspires for the site to be a "self-contained kind of city", with a porte cochere, street-level retail, restaurants, and a small public park that may even connect to the High Line. HFZ is also considering bringing a hotel to the base of the 28 story building.
· Bjarke Ingels NYC Condos Won't Be at Ultra-Luxury Prices [Bloomberg]
· HFZ Weighs Starchitects for High Line Condos, Shops & Hotel [Curbed]
· The High Line Might Get Yet Another Big Fancy Building [Curbed]