611 West 56th Street in New York

Name: Sales in 611 West 56th Street started!
Start: 2020-08-21T09:18:56.323938+00:00
End: 2023-12-31T23:59:59+0000
Location: 611 West 56th Street

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Project info

Object ID: 8803

Finished at	December 2020
Price, m²	From 26800$
Buy online	Details
Installment plan	—
Bank mortgage
Property type	Aparment building
Square	from 47.00 m²
Floors	37
Apartments	80
Condition	Turnkey
Construction type	Monolyth
Security	CCTV Reception
Conveniences	Parking Fitness Kids playground Near supermarket
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Personal discount certificate 300$
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Return on investment for apartment

with price

9,026$

Rental income

1,103$

Management

689$

Utilities

451$

5% Income tax

6,783$

Net profit

Month	Days in month	Occupancy, %	Occupancy, days	ADR	Total
January	31	29%	9	30$	270$
February	28	35%	10	30$	300$
March	31	22%	7	33$	231$
April	30	23%	7	40$	280$
May	31	38%	12	40$	480$
June	30	73%	22	45$	990$
July	31	87%	27	75$	2025$
August	31	87%	27	75$	2025$
September	30	60%	18	55$	990$
October	31	58%	18	40$	720$
November	30	36%	11	30$	330$
December	31	35%	11	35$	385$
Total	365		179		9026$
Average		48%		44$

Total invested

1,259,600$

Net profit

6,783$

Payback period

139.6 years

Avg property value increase per year

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About the project

611 West 56th Street is the first building in the United States designed by Pritzker Prize-winning master architect Álvaro Siza, with exquisitely crafted interiors by Gabellini Sheppard.

Siza is world renowned for the sculptural characteristics and purity of his buildings. The intricately constructed 80-residence monolithic tower will be wrapped in four sides of Perla Bianca limestone and reflect the subtle and refined detailing that Siza is known for.

Gabellini Sheppard is an interior architecture and design studio that is singular in its ability to create spaces of elevated simplicity and craftsmanship. Distinguished by their sculptural finesse with the elements of space, light, materials and finishes the firm excels at creating a heightened sense of place and sensory experience resulting in environments that yearn to be experienced and felt.

Together, they present a new, rarified type of residential living, one that is built around best-in-class design, top-quality craftsmanship, and thoughtful layouts. By uniquely merging the scale of a world tower with breathtaking views and the privacy and sophistication of an exclusive boutique development, the project will certainly be the first of its kind.

Created by the development firms Sumaida + Khurana and LENY, the building will be a groundbreaking structure not just for its neighborhood, at the intersection of Midtown and the Upper West Side, but for all of New York City.