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You Still Can’t Get Three Bedrooms in NYC—and That’s a Good Sign

Mitchell Hochberg, the president of the real estate developer Lightstone, shares insights on the resilience of the city’s high end housing market.

A rendering of a living room at 130 William St.

A rendering of a living room at 130 William St.

Source: Lightstone

For the first time in years, it’s good to be a luxury real estate developer in Manhattan. Demand for high-end condominiums is soaring and prices are rising—and so are new buildings.

One of the most striking is 130 William, a 66-story, 242-unit skyscraper in the financial district designed by David Adjaye, the star architect best known for designing the National Museum of African American History and Culture in Washington. The William Street tower, with its striking, arched windows and dark facade, has made its mark on the downtown skyline. Prices for available apartments range from $1.8 million for a one-bedroom unit to $20 million for a four-bedroom penthouse. Residents began to move in late last year.