The Real Deal New York

New residential developments

July 01, 2010 07:00AM

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Construction update

Bedford-Stuyvesant

The Shelton

775 Lafayette Avenue

Construction on the 14-story affordable housing cooperative by TNS
Development Group has topped off. The 83-unit building, which will have
a part-time doorman, landscaped courtyard and fitness room, is slated
for completion in March of next year and occupancy that May. One-, two-
and three-bedroom residences, which range in size from 667 to 1,180
square feet, will be sold by lottery beginning this year to
income-restricted buyers, with prices starting at $126,500 for
one-bedrooms. Halstead Property Development Marketing is the agent.
Contact: thesheltonnyc.com.

Leasing update

Williamsburg

34 Berry Street

LCOR’s new 142-unit rental in North Williamsburg is 50 percent
leased after its debut in March, and at least a dozen more leases are
under contract. The property, which is adjacent to McCarren Park, is
offering studios starting at $1,775 per month, one-bedrooms starting at
$2,560 per month and two-bedrooms starting at $3,840 per month.
Amenities include an attended lobby, as well as a 71-space parking
garage, rooftop terrace and lounge. Rose Associates is the agent.
Contact: 34berry.com.

Sales update



Harlem

Colon Plaza

55 East 115th Street

Developer Horsford & Poteat Realty has opened its $18 million,
55-unit affordable housing complex, whose units are reserved for
families making less than 60 percent of the area’s median income,
victims of domestic violence and the formerly homeless. The city’s
Department of Housing Preservation and Development will select
residents through a lottery system this month. Contact:
horsfordpoteat.com.

Long Island City

L Haus

11-02 49th Avenue

The Stahl Organization’s 122-unit building has garnered Federal
Housing Administration financing approval, allowing buyers to receive
up to 96.5 percent financing on home loans. Prices on units, which
range in size from 675 square feet to 1,800 square feet and come in
one-, two- and three-bedroom layouts, start at $465,000 and peak at
$1.31 million. Amenities include a landscaped yard, roof terrace with
Manhattan skyline views and a fitness center. Prudential Douglas
Elliman is the agent. Contact: lhauslic.com.

Lower Manhattan

99 John Deco Lofts

99 John Street

The Rockrose condominium conversion, which now belongs to TF
Cornerstone, saw 20 new sales between February and May. Prices at the
Shreve, Lamb & Harmon-designed art deco building begin at $495,000
for a 550-square-foot studio, $690,000 for an 837-square-foot
one-bedroom and $975,000 for a 1,120-square-foot two-bedroom. All units
have open layouts and vaulted ceilings with heights between 11 and 14
feet. Amenities include a 24-hour concierge, parking garage and rooftop
dining area. Nestseekers is the agent. Contact: 99johndecolofts.com.

Park Slope

500 Fourth Avenue

Closings have begun at Matri Holdings’ new 156-unit condo, which
has received its temporary certificate of occupancy. The building was
also approved for FHA financing and has a 15-year, 421-a tax abatement
from the city. One-, two- and three-bedroom apartments are available,
with sizes ranging from 539 square feet to 1,456 square feet and prices
from $342,000 to $1.225 million. In addition, a 3,000-square-foot
duplex townhouse is available for $1.426 million. The Kafati-Batarse
Group at Prudential Douglas Elliman is the agent. Contact:
500fourthave.com.

Williamsburg

The Residences at the Williamsburg

135 North 11th Street

Sales have launched at the condo portion of KM Construction and
Development Group’s condo and hotel on North 11th and 12th Streets,
overlooking McCarren Park. Buyers of the building’s 57 residences –
one- to three-bedroom homes ranging in price from $446,500 to $1.57
million — will also have access to the services and amenities of its
64-room boutique hotel, including valet parking, 24-hour concierge and
room service, laundry, dry cleaning, housekeeping and dog walking. The
building’s rooftop has views of the Manhattan skyline and private
cabanas available to residents. Aptsandlofts.com is the agent. Contact:
135n11.com.

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