Construction is soon on its way for the 95-story tower at Park Avenue and East 56th Street.
The building at 432 Park Avenue will be the city's tallest apartment complex when it is completed in a few years.
The New York Times reported that the building is short of 1,397 feet and when completed, it will be taller than its competing building, One57 by almost 400 feet.
"The apartments will be large, and very expensive, with an 8,255-square-foot six-bedroom penthouse on the 95th floor being listed for $82.55 million," the Times confirmed.
According to The Commercial Observer, this is not the first situation where a new tower has been built to take the attention away from other competing buildings.
"There is a ruthless math to tower development in the Manhattan and the addition of the one building to the skyline almost always subtracts from the views of another," The Observer reported.
The 147 residential tower has gone under a price increase of 3 percent and will have 122 one- to six-bedroom apartments from the 34th to the 95th floor. The asking price will start from $5 million for a one-bedroom. There will also 25 studios in the tower.
Since no other hotel will be sharing the space on Park Avenue, the hotel will also include a private restaurant on the 12th floor with a balcony, a fitness center, a pool, a whirlpool, a sauna, a steam room, a pool, a library, screening and conference rooms, the Times confirmed.
