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Real Estate

One NYC Developer, Two Projects and $3.4 Billion of New Condos

  • Openings add about 330 units to already crowded luxury market
  • HFZ is seeking $70 million for each of two Chelsea penthouses

New York developer Ziel Feldman is unleashing about $3.4 billion worth of new condos onto the Manhattan market, at prices that guarantee him an exclusive buyer pool -- and lots of competition.

He’s listing 95 units at the Belnord, a century-old Upper West Side building getting an overhaul by architect Robert A.M. Stern, where the cheapest three-bedroom apartment will cost $5 million. He’ll also start sales for the 236 condos at the Eleventh, rising near the High Line park in Chelsea with a futuristic design by Bjarke Ingels. Two penthouses there are tagged at $70 million apiece, a purchase price that would set a downtown record.