New York’s Hell’s Kitchen moves from gritty to gentry
In February 2017, one of Stella Tower’s penthouses sold for $10 million dollars, a record in the district. Developed by JDS Development Group, Stella Tower is the conversion of a telephone building by Ralph Walker—a sister project to the influential Walker Tower project in Chelsea—into 51 luxury condominiums. The sale of this penthouse reveals a growing trend in Hell’s Kitchen, where average sales prices have been up 12.8 per cent from 2016. The neighborhood is a natural home for Broadway professionals as well as drawing businessmen and women to the new housing supply.
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