NEW YORK CITY-With the sales office open only a week, 10% of the 251 units at the Visionaire in Battery City Park have sold. The $300-million, 500,000-sf green project, which broke ground last fall, is not slated to come online until the fall of 2008.
Located at 70 Little West St., the 35-story condominium project is being developed on the only remaining developable residential site in the area, according to Russell Albanese, president of the Albanese Organization, the parent company of the Visionaire's developer the Albanese Development Corp. "It's really a spectacular location," he tells GlobeSt.com.
The green development was designed by Rafael Pelli of Pelli Clarke Pelli and "features a curved striking facade of a glass and terracotta curtain wall and floor to ceiling windows." The Albanese Development Corp, which is partnering with Starwood Capital Group Global, plans to apply for platinum LEED certification upon the completion of construction, with the hopes of establishing the building as a model for residential green design.
The Visionaire marks Albanese's third foray into green residential development. The Solaire, which was completed in 2003 and is located at 20 River Terrace, received the designation of being the first residential building in the country to receive gold LEED certification.
Units vary in size from studios to four-bedrooms and are designed to allow as much light to flood into the apartment as possible. Amenities at the Visionaire include a sky light indoor pool, a health and fitness center, roof garden, outdoor grills and cabanas. In the first week of sales 10% of the units were sold, and Albanese tells GlobeSt.com he expects every unit to be sold by the time the construction completes in fall 2008. Prices range from $700,000 for a studio to $10 million for the penthouses.
After working on three such projects, Albanese says he sees green residential buildings becoming much more prominent in the years to come. "I think the transformation of the market is happening rapidly where consumers are more interested in not only luxury features but the quality of the indoor environment and the effect on the external environment and resource conservation," Albanese says. "We will see more [green projects] across the board. The consumer is going to want it and the governments are moving in the direction to require it."
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