Platinum
Location:
247 West 46th Street
New York, New York
Platinum is a 43 story tower SJP developed on Eighth Avenue and 46th Street in the heart of Midtown Manhattan. This striking glass and metal facade building was created as a luxury condominium with resort style amenities. It replaced a derelict six story office building and a surface parking lot. It was the first building in New York to employ transferrable theatre bonus air rights which was created by the New York City council to foster the rehabilittion and preservation of legitimate theatres. The building has won international praise for its architectural design. It has played a large role in the redevelopment of the surrounding area as new developments are following immediately to the south and west of the project. Developed at a cost of $230 million, it has sold at nearly $1,400 PSF in a geographic area previously unable to break the $1,000 PSF barrier.