The 11-storey glass and steel building – which was announced in 2013 – is situated on West 28th Street, beside the popular High Line park built on formerly derelict railway tracks.
The development will be the architect's first residential project in New York. It will house 39 luxury apartments, each with 3.3-metre-high ceilings, private entrance foyers, and up to 590-square-metres of space. The interiors will also include a "unique Zaha Hadid sculptural element".
"I've always been fascinated by the High Line and its possibilities for the city," the architect said in a statement. "Decades ago, I used to visit the galleries in the area and consider how to build along the route. It's very exciting to be building there now."
"The design engages with the city while concepts of fluid spatial flow create a dynamic new living environment," she added.
Hadid recently unveiled a swooping wood and fabric canopy for a section of the High Line that passes by the 520 West 28th Street development, designed to protect visitors from construction debris.
"For decades [the High Line] was an overgrown railroad track, left over from an era when elevated trains roared through Manhattan," designer Steven Burks told Dezeen. "Today it's a multi-million dollar park that's welcoming hundreds of thousands of visitors a day."
Price tags for Zaha Hadid's apartments range from $4.9 million (£3.2 million) to $50 million (£33 million) for the largest penthouse. Residents will also have access to a roof terrace, indoor pool and spa. The building is scheduled to be completed in early 2017.
"520 West 28th will make a profound statement to New York City's visual landscape with its compelling design and prominent location on the High Line, while at the same time offering residents an exclusive opportunity to live within a work of art designed by one of the world's most celebrated architects," said Greg Gushee, Related Companies executive vice president.
Zaha Hadid was recently named as the recipient of the Royal Institute of British Architects' Royal Gold Medal – making the architect the first woman to be awarded the honour in her own right.
But an interview on BBC Radio 4's Today programme about the medal quickly soured after a poorly researched question about Hadid's Al Wakrah Stadium for the Fifa 2022 World Cup in Qatar. The BBC later apologised.