TOLD YA!!! The next place to buy

After living in this neighborhood for over 10 years, I have sold many apartments in this hood. Always seeing the potential and final frontier for development, the pending HOT NEIGHBORHOOD! Now with every sale I mention all the developments in the neighborhood and what this means for the older condos or coops in this strip. It means return on investment and opportunity!!!From 34th-23rd Street and 5th ave to Park, this is it!
Still undervalued, buy now and in a few years you may actually make more money that you anticipate because of all the anticipated growth in the next few years! Take a look at just a few of the developments in this formerly unknown area. This wont be a gray spot on the map for long, Unless gray is the new black! :)

Twenty9th Park Madison - 39 East 29th Street
Urban planners might want to make a case study out of the area just north of Madison Square Park in Manhattan. There's been a persistent stream of development activity in this part of town, and the latest entrant is a rather unremarkable 142 apartment 34-story condo tower rising fast at 32 East 29th Street. Called Twenty9th Park Madison (don't ask) this H. Thomas O'Hara designed condo topped-out in what seemed like record time. It is a plain straight forward design, with a mostly windowed curtain wall, and masonry accents at the base and corners. What interested us more than the building itself (roof deck at right) is whether or not this location will come together as a residential neighborhood. After the jump we consider the area and the neighbors.

The Real Deal reported that Twenty9th Park Madison will have studios through convertible three-bedroom apartments ranging from 536 to 1,309 square feet, with prices starting at $625,000. There will be a lobby espresso bar and cold storage for Fresh Direct delivery.

This lower part of Madison Avenue is very much a neighborhood in transition. During weekdays class-B office space fills the area with workers. At night it tends to empty-out, although that is changing because of all the weak-dollar tourists. Ethnic-day parades take place here on weekends all summer long, many of which were shunted here over the years by city officials precisely because few people lived in the area. But that is changing fast.

To us this still seems way preferable a location to West 42nd Street, where the Orion and the Atelier are located. Those two condo developments got a lot of attention and (apparently) buyers even though they are farther off the beaten path. And we would point out this is much more central than living way down in the financial district. It seems like people are starting to figure it out. Some of the planned or recently completed projects are listed below:

The 200-room Gansevoort Park going up at the corner of 29th Street and Park Avenue South should bring more foot traffic and nightlife.

Jasper - 114 East 32nd Street

Sky House condo
This slim 55 story condo tower has 135 apartments. You can read about it here.

The Parkwood
This is a conversion of a commercial building to full floor condos located at 31 East 28th Street.

Park South Lofts
Another conversion of a mid-block loft building. Located at 45 East 30th Street, the details and setbacks were nicely preserved here. 40 apartments were created here, including a prominent penthouse addition.

M127 by SHoP Architects
Located at 127 Madison Avenue, SHoP Architects radically altered this small commercial building, adding a number of floors and replacing the facade with angled window units that look up the avenue. Loft units are full-floor condos.

176 Madison Avenue
This planned project at 33rd Street will have 69 condo apartments above a mixed use glass and steel tower.

76 Madison is another conversion, this one with an all-glass penthouse added to the top.

http://www.triplemint.com/triplemint/2007/10/twenty9th-park-.html