The near completion of the second section of Chelsea’s High Line park has brought a wave of new residential developments, and new developers, to the West 20s. As the Wall Street Journal noted, one of the developers making its first foray into Manhattan construction is actually a familiar name: Equity Residential, the company chaired by real estate mogul Sam Zell. Though Zell first entered New York City in 2004, and the New York-Metro area now accounts for 13 percent of his company’s income, a 111-unit rental is the first ground-up project his firm has undertaken. [more]

Michael Hirtenstein has closed on his $16.8 million, five-apartment purchase at One York Street, on the corner of St. Johns Lane, in Tribeca. Telecommunications mogul Hirtenstein had earlier walked away from a deal to buy six units for more than $25 million in the Enrique Norton-designed building. He ended up purchasing a 9,000-square-foot residence with 6,000 square feet of outdoor space. He told the New York Post he plans to use the home for philanthropic events.

Architect Enrique Norten with a model of Cassa

Architect Enrique Norten, developer Solly Assa and other luminaries turned out this week for the launch party for Cassa, a condo and boutique hotel at 70 West 45th Street. Architect Nancy Ruddy, co-principal of Cetra/Ruddy Architects and a designer of the project with Norten’s firm, Ten Arquitectos, told The Real Deal in May that the building would be constructed economically. The project will include 57 residential units and 166 hotel rooms. Below are some photos from the party, held at 1140 Avenue of the Americas. Cassa’s condominium units are now in pre-sales. TRD [more]

From the May issue: Even A-list starchitects are on a tight allowance these days. Case in
point is the Cassa hotel and condominium tower rising at 70 West 45th
Street between Fifth and Sixth avenues with a design influenced by the
economic downturn. Architect Nancy Ruddy, co-principal of Cetra/Ruddy architects, who
designed the skyscraper with Ten Arquitectos, led by legendary Mexican
architect Enrique Norton, points out, “The success of this building
will be that it will be built very economically, both on the interior
and the exterior.”  more
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