Manhattan awaits new luxury building

Real Estate Weekly, Sept 18, 2002

The Biltmore, a 51-story, mixed-use tower on 47th St. and Eighth Ave., was ceremoniously topped out in August of 2002. In a joint venture to develop this high-end residential tower, The Jack Parker Corporation and The Moinian Group formed Biltmore Tower, LLC. The Jack Parker Corporation is undertaking the development, construction, and management of the project. The Biltmore will be ready for occupancy in the Spring 2003.

"We have reached the 51st floor within a record time of 350 days since breaking ground on August 16th of last year," noted Jean-Pierre Vaganay, chief operating officer of the Jack Parker Corporation. "We are very proud to be participating in the residential development of New York City and are extremely pleased with the progress of the project. Floor after floor, we have been amazed by the magnificent views the Biltmore will offer to its residents, including those of the Statue of Liberty, the Hudson River, and Downtown Manhattan."

Vaganay thanked all those responsible for the success of the project.

"Take a look at The Biltmore and observe the superb accomplishment of the men and women we are honoring today," he said at the ceremony.

"The city is on the rise and we are all proud to be part of it."

Designed by Schuman Lichtenstein Claman & Efron, the Biltmore will likely be one of New York City's premier high-end residential properties. From its dramatic street-level entrance and its fourth-floor health and social club, to its full service valet and concierge desk, the property will offer the ultimate in luxury in a prominent Midtown Manhattan neighborhood.

Located on the northeast corner of 47th St. and Eighth Ave., the Biltmore is just steps away from numerous corporate headquarters, Times Square, the Theater District, Rockefeller Center, and Restaurant Row.

The building will offer 464 high-end rental units, 93 of which will be designated to the LIHTC Program. The market apartments will feature oak floors, granite countertops, and tiled bathrooms, with a custom wood vanity. There is an interesting use of unusual light fixtures throughout, from a 'swaged' globe in the kitchen to a modern vanity light in the bathroom.

Complementing the Biltmore's distinct architecture and design is a spectacular lobby and fourth floor social center created by cutting-edge, design firm MCCARTAN.

"MCCARTAN was chosen for their ability to deliver modern, cutting-edge interiors that aspire to be new classics and eschew trendy fashionable design statements," noted Kimberly Cafaro, general manager of the Biltmore.

"There is no question that the look of the Biltmore will be very dramatic."

The Biltmore will have approximately 35,000 SF of prime retail space on the ground, second, and third floors.

The 6,500 SF prime ground retail space will offer 17' ceiling heights and tremendous frontage in one of the most well trafficked areas in New York City.