New luxury condos just hit the market on NYC’s Madison Avenue for the first time in 20 years, and residences start at $12.5 million — take a look inside
September 29, 2020
For the first time in more than 20 years, there’s a new development being built on Madison Avenue on the Upper East Side.
The world-famous avenue is known for its high-end fashion, with blocks of storefronts for brands like Barneys, Prada, and Giorgio Armani.
“There is rarely a land plot for sale in the area as it’s teeming with beloved retail, hospitality, and historic residential buildings,” a spokesperson for The Benson told Business Insider.
Naftali Group, the global real estate developing firm, is working with Peter Pennoyer Architects on the Upper East Side’s upcoming luxury condos.
In a statement emailed to Business Insider, Peter Pennoyer, founding partner of the architecture firm, wrote that The Benson was designed to reflect the style of the jazz age. “From the stepped setback terraces to the carved facets of the limestone façade, every detail reflects the modern classical spirit of 1920s New York architecture,” he wrote.
Here’s an inside look at the building, which features a spa, a movie theater, and a rooftop patio with views of Central Park.
A new luxury residential building is going up on New York’s Madison Avenue. With 15 units starting at $12.5 million, designers say the building was inspired by the neighborhood’s historic structures.