The Real Deal New York

New Condos: Midtown
Stella Tower at 425 West 50th Street

July 10, 2014 01:10PM

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75379475Stella Tower is a 1927 Art Deco building designed by architect Ralph Walker and named for his wife. The luxury condominium conversion is part of a recent development boom in Hell’s Kitchen; only six weeks after hitting the market, sixty-percent of the units in Stella Tower were sold. Stella Tower was developed by JDS Development and Property Markets Group in partnership with Starwood Capital Group. The same partnership developed Walker Tower, Stella Tower’s pricier sister building. Six owners at Walker Tower also purchased units in Stella Tower. The conversion hit the market in April 2014. The 18-story building houses 51 units, ranging from one- to three-bedrooms. As of press time, seven units were in contract. The least expensive unit available, a two-bedroom, was asking $4.35 million. The most expensive unit available, a four-bedroom penthouse, was asking $13.995 million. The building has a fitness center, library and a lounge off the lobby. Contact www.stellatower.com or 212-265-4250.

NAMEStella TowerPRICE RANGEFrom $4,350,000 to $13,995,000
ADDRESS425 West 50th StreetSIZE RANGEFrom 1,727 Sq Ft to 3,455 Sq Ft
TYPEConversionAVG PPSF$4,690
TOTAL UNITS51TAX ABATEMENTNo
DEVELOPERPMG and JDSAVG COMMON CHARGE$1.20/sf
BROKERDouglas EllimanFINISHED BY2014

Source: Streeteasy, BuzzBuzzHome, TRD, news reports. Data as of late 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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