The Real Deal New York

New Condos: Midtown
540West

July 10, 2014 12:01PM

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540 West 49th Street 1

The new condo development 540West, at 540 West 49th Street, is made up of two connected seven-story buildings; their facades, composed of glass and steel, reflect the brownstones on the other side of 49th Street. One unique feature of the 114-unit project is its split-level lobby, which opens into a breezeway and a 6,000-sqaure-foot courtyard where the two buildings meet. Since 540West hit the market in October 2013, three apartments have sold, and 64 are in contract. Asking prices for available units range from $725,000 for a 501-square-foot studio to $2.94 million for a 1,336-square-foot penthouse. The project was developed by Fortis Property Group and designed by the Meshberg Group. The courtyard boasts lounging, dining and outdoor movie-viewing spaces. Occupancy is slated for the fall of 2014. Contact www.540west.com or 212-521-5753.

NAME540West PRICE RANGEFrom $725,000 to $2,940,000
ADDRESS540 West 49th Street SIZE RANGEFrom 501 Sq Ft to 1,336 Sq Ft
TYPENew BuildingAVG PPSF$1,559
TOTAL UNITS114TAX ABATEMENTPending
DEVELOPERFortis Property GroupAVG COMMON CHARGE$1.12/sf
BROKERHalsteadFINISHED BYFall/Winter 2014
Source: Streeteasy, BuzzBuzzHome, TRD, news reports. Data as of early July. List primarily includes Manhattan condo projects that have started sales since Jan. 1, 2010 that have units on market. Projects that started sales since Jan. 1, 2010 that subsequently sold out, have all units in contract or don’t currently have any listings on the market were excluded in most cases. “Price range,” “Size range,” “Avg PPSF (Price Per Square Foot)” and “Common Charge” refer to units currently for sale.
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