The project is being developed by Sharif El-Gamal of Soho Properties, and the building will eventually stand 667 feet tall, when complete. The project has been in the works for nearly a decade now, but the development has been making steady progress over the last two years.
The 43-story building will have just 50 apartments, and sales on the units launched last June. The apartments were asking from $3.725 million at the time, and the building includes a mix of one, two, three, and four-bedroom apartments.
Just a little over a month after the sales launch, the developer unveiled a sales gallery for the condo building half a mile away, in Tribeca. Several apartments at 45 Park Place are now in contract, according to StreetEasy; among the ones available, prices range from $3.8 million, and go up to $12 million.
The structure at 45 Park Place is about four stories above ground right now, and construction on the project is expected to wrap sometime next year.