The Madison Park skyline is getting a bit more crowded as One Madison Park, a 60-story tower at 23 East 22nd Street, rises less than a block away from the iconic Clock Tower building at One Madison Avenue.
The condo tower that will rival a Manhattan landmark in height will now rival it in name, as well, after a recent rebranding by a new marketing team. Formerly the Saya, builders Slazer Development decided to give it a more geographically focused name when it replaced its original marketing team, Cantor Pecorella, with Brown Harris Stevens’ ID Marketing.
Although Slazer’s skyscraper will be about 100 feet shorter than the Clock Tower, buyers are apparently finding that its charms are lofty enough: 45 percent of the condo’s units are in contract since sales started last summer.
Sales are moving along even though the building’s height is just about the only thing that’s remained unchanged since the project was announced last summer.
In addition to a new name and a new marketing team, the project has also seen its floor plans redesigned, and units are now fewer in number and priced higher.
One Madison Park will have 70 units with no more than two units per floor; original plans called for the development to have 90 units.
According to Wendy Maitland, senior vice president of ID Marketing, the new layouts will allow all units to have three-sided exposures.
Most of One Madison Park’s condos will be one- to four-bedrooms ranging in size from 900 to 3,310 square feet. In addition to six full-floor, four-bedroom units and a 7,600-square-foot triplex penthouse, the condo will have seven full-floor, three-bedrooms with covered outdoor space, which Maitland calls loggia units.
Prices for the condos have risen dramatically since last year. One Madison Park’s apartments range from $1.975 million to $10.6 million, with the triplex penthouse priced at $35 million. When information about the Saya was first announced, prices were pegged between $1 million and $6 million, with the triplex priced at $30 million.
Although sales are going well at One Madison Park, it may yet have competition with One Madison Avenue, which was the tallest building in the world when it was built in 1909. The clock tower portion of the property was recently purchased by Africa Israel from SL Green Realty Corp. for $200 million. SL Green previously had plans to convert the tower into condos and a hotel. Africa Israel has yet to announce its plans for the property.
“We’re taking [the building] back to its true address that the owners already had, rather than an invented name,” Maitland said of the similarity between the development’s new name and its Clock Tower neighbor. “It’s a very special location where new and old will meet.”
A hard launch for One Madison Park is expected in early autumn.