118 East 59: New York living, at its finest

Landmark development set for launch five minutes from Manhattan’s biggest attractions

Buyers looking for the best of New York living should hedge their bets on 118 East 59, a huge residential tower in the heart of Manhattan.

At 500 feet tall, this luxury development is located in The Plaza District, home to many of the city’s most iconic landmarks including The Rockefeller Center and upmarket shopping destination Fifth Avenue.

Less than a 15-minute walk to the world-renowned Museum of Modern Art and ten minutes to Times Square by metro, 118 East 59 is one of the city’s most prestigious addresses.

Ray Hogan, managing director of real estate company Oryx World Portfolio, says, “Anyone looking to invest in something a little bit different, a little more upmarket, should seriously consider this development. Steps away from major international landmarks, it’s truly something special.”

Featuring a state-of-the-art glass exterior, the tower was designed by SCDA Architects, helmed by the award-winning Soo K. Chan. Each home covers an entire floor, and the one-, two- and three-bedroom condominiums enjoy 10- to 20-foot-high ceilings.

Insulated glass walls capture both the daylight and city views, with select upper floor residences overlooking Central Park. At the top, a triplex penthouse crowns the building.

Stephany Chen, broker at real estate company Teles Properties, says, “118 East 59 offers residents a pied-à-terre in Manhattan’s busy Midtown. The architecture blends East and West, functional swimming pools transition between indoor and outdoor and the full floor residence is bespoke with the highest quality materials, offering true luxury living.”

Interiors include freestanding baths, lacquer cabinetry and dramatic marble slab countertops. There’s also a built-in water filtration system.

In the lobby, stone floors and a textured wall complement a pond and marble reception desk, which is staffed by a seasoned attaché. Beyond offering access to the best restaurants, concerts and clubs in the city, the attaché also oversees the indoor and outdoor dual-level amenity lounge.

But that’s not all. Level four contains a state-of-the-art fitness facility, a treatment lounge and steam shower. The attaché can source personal training and spa services by request.

Level three meanwhile features a Zen garden,
tranquility terrace, residents’ lounge, gourmet catering kitchen and private dining room.
“Everything has been thought of,” adds Ray Hogan from Oryx World Portfolio. “Anyone who buys a residence at 118 East 59 is going to experience a very curated, luxury lifestyle that encompasses the very best of New York City.”

Units start from $4m. The median price of new developments in New York has dramatically increased in recent years, reaching a record $2m in Q4 2015. This is an 18% increase from Q3 2015 and a 21% increase from Q4 2014 when the median price was $1.7m.

For more information on the financials, from payment plans to overall market predictions, please call Oryx World Portfolio on +971 (0)4 446 2000. Established in 2002, Oryx World is a multi-award winning real estate company with an property network that spans more than 40 different countries.