459 West 44th Street: Luxury Green Condos Hit Hell’s Kitchen

This boutique condominium conversion between 9th and 10th Avenues in Hell’s Kitchen features high price points but high performance systems, products, and finishes.

Located between 9th and 10th Avenues in Hell’s Kitchen, 459 West 44th Street is a green condominium conversion that offers three duplex units starting just north of $2 million apiece. It’s a much higher price point than many of the boutique green condominium projects that we’ve been following here at gbNYC, but developer Van Velle recently profiled the project in Businesweek and provided some interesting thoughts about the role of green design features in the current real estate climate.

“We recognized that, in a declining real estate market, the demand would be for value- for homes built to last,” Mr. Velle said. “That’s why we decided to go sustainable. We scrapped the previous plan, which sacrificed quality for quantity, and instead proposed three luxury condos constructed with sustainable products and efficient technology.”

Calling it a swap of quantity for quality, Mr. Velle purchased the property from a contractor that had abandoned a prior project in the middle of demolition operations at the four-story structure. He retained architect Allen Strasen and, although the project does not appear to be seeking any third-party certification for its green design efforts, incorporated a number of sustainable features that include low-VOC insulation, paints, and sealants and an efficient HVAC system.

Corcoran has active listings for two of the units; one at $2,495,000.00, the other at $2,950,000.00. The more expensive apartment is on the ground floor and features a 20′ x 17′ backyard space. According to StreetEasy, the price on that unit has been dropped twice (most recently just a few days ago by $300,000.00) after an initial listing back in January at $3,500,000.00.

About Stephen Del Percio

Stephen Del Percio has written for gbNYC+ since 2006 and currently serves as in-house counsel for one of the world's largest engineering, construction, and technical services companies. He earned a B.Eng. from Columbia, his J.D. at William & Mary, and lives in New York City with his wife and daughter. You can follow Stephen on Twitter, email him at stephen@gbNYC.com, or join gbNYC on Facebook to continue the conversation.

about gbNYC

gbNYC is a multi-disciplinary consulting and real estate services firm. In addition to representing office tenants and commercial buyers in leasing and acquisitions, we also provide innovative consulting solutions from a unique, green building perspective. We advise on green building financial incentives, comment on proposed green building marketing strategies, author white papers, treatises, and market analyses, organize seminars on the LEED process and professional accreditation, and provide advice and analysis on green building risk management and the overall state of green real estate, leasing, and construction, in New York City and beyond.

Our blog, the gbNYC+ journal of real estate, law, + sustainability, delivers consistent, original content - from a New York City perspective - on how technology, data, and sustainability are changing how we interact with our built environment. Subscribe below and receive new articles as they're published or connect with our social media presence to join our ongoing conversation about real estate and sustainability, in the Big Apple and beyond. Contact us at (201) 835-8530 or info@gbNYC.com for more information about our services and to discuss how we can assist you.

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