Billionaire's Row Tower Launches Apartment Sales

MIDTOWN MANHATTAN, NY — A luxury residential building on the Midtown block dubbed Billionaire's Row is launching sales, according to multiple reports.

JDS Development's 111 W. 57th St., located between Sixth and Seventh avenues, will rise 1,428 feet and contain just 46 condominium apartments, New York YIMBY reported. All of the units will either occupy a single floor or two whole floors, according to the report.

Property Markets Group and Spruce Capital Partners have partnered with JDS to jointly develop the new Billionaire's Row tower.

The condos at 111 W. 57th St. will start at $18 million and the most expensive unit will reach an asking price of $57 million, Curbed reported. The Steinway Building, a landmarked building located at the base of the new tower, will contain 16 units and a $20 million penthouse, according to Curbed and YIMBY.

The tower is currently under construction — once complete it will be the fourth-tallest building in the country — and residence sales are expected to close in 2019, New York YIMBY reported.

During a sales launch event developer Michael Stern of JDS Development described the building as a "a bold new landmark for the Manhattan skyline," that is exceeding the expectations of the development team. The tower was designed by SHoP Architects and features a bronze and terracotta facade.

A spokesperson for JDS Development did not immediately return a request for comment.

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