Real estate agency CityReality has released a series of visualizations, illustrating what the New York skyline might look like in 2020.
The concept images were released alongside the agency's latest development report, and reveal which areas will be most affected by the city's notoriously rapid vertical growth. The report states that, by 2018, new apartment sales will rocket back to a level not seen for over a decade. They state:
While fewer developers in 2016 are signing on to build sky-grazing towers with penthouses that cost $100 million (USD) or more, condominium prices are still on an upward trajectory, with anticipated sales totaling roughly $30 billion through 2019. In total, 92 condominium projects with roughly 8,000 new apartments are under construction or proposed.
A number of high-profile architects have designed buildings for the city in recent years, including Rafael Viñoly, Herzog & de Meuron and Christian de Portzamparc. But, although development has largely been contained to midtown areas, there is now set to be a tsunami of construction in the financial district, with roughly 1,250 new apartments appearing in the neighborhood.
The Jean Nouvel-designed tower, one of the biggest, will sit at 53 West/53rd Street and climb to a total height of 1,050 feet. Units have an average price tag of $12.7 million, with a total sell-out forecast of $2.1 billion. Construction began last year.
The speed at which the landscape could change is insane and exciting, just like New York City itself. But the developments come at a time when the city—like many other major ones around the world—is struggling to provide enough affordable housing.
Read the report in full at CityReality.
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