Developers vie for “tallest” designation next to residential towers

New York City has entered the age of a residential arms race, where developers continue to try top each other, literally, in the height of their developments, according to the New York Times. By 2016 the city could have six of the country’s 10 tallest towers and three of its highest residential buildings.

Last year, 8 Spruce Street became the country’s tallest rental tower. (The Times noted that architect Frank Gehry urged developer Forest City Ratner to build a few feet short of Trump World Tower so as not to draw The Donald’s ire.)

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Meanwhile, Extell Development’s One57 just broke a Manhattan sales record on its way to 1,004 feet in height, which will make it the tallest residential tower in Manhattan. But it won’t hold that title for long. The residential structure CIM Group and Harry Macklowe plan for 432 Park Avenue is slated to reach 1,398 feet in 2016, and even later, the GiraSole tower proposed for 11th Avenue could rise to a similar height.

In the short-term, a Related Companies rental tower scheduled to open June 15 is staking claim to the “tallest residential building on the Upper East Side” title, as it rises 53 stories on 1214 Fifth Avenue, which is actually in Harlem. At 513 feet, it will be the 183rd tallest building in the city.

In addition to the bragging rights, developers covet the higher prices the upper floor views typically generate. [NYT]

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