Jacques d’Amboise and PS90 at 220 West 148th Street

Jacques d’Amboise, former ballet star and founder of a non-profit dance education group for children, paid $650,000 for a 1,251-square-foot condominium unit at PS90, the converted public school building in Harlem.

D’Amboise, once a principal dancer for the New York City Ballet, signed a contract in December and closed on the purchase of the second-floor condo at 220 West 148th Street on Jan. 28, city records published today show.

The six-story building, located between Adam Clayton Powell and Frederick Douglass boulevards, was converted by L + M Development Partners into 72 condominium units and four community facility units. [more]

PS90

After beginning closings a little over a month ago, residents have begun moving in at PS90, a new condominium development located at 220 West 148th Street in Harlem. So far, 10 of the building’s 75 residences have closed, according to Halstead Property Development Marketing, the development’s exclusive brokerage. The building, a century-old schoolhouse that had sat empty for 40 years, was renovated by L+M Development Partners for residential use. PS90 includes studios and one-, two- and three-bedroom homes, ranging in price from $450,000 to $899,000. TRD

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Ron Moelis and PS90

The first two closings at Harlem’s PS90 have hit public record, and thus far, it looks like prices for L + M Development [more]

Harlem’s PS90 condominium, at 220 West 148th Street, is hovering under 40 percent sold as closings begin, according to Ron Moelis, CEO of L + M Development Partners. Construction on the former elementary school, which will soon house both low-income and market-rate residents, was completed in July. “I wouldn’t say that sales have been slow, but I think people want to buy something they can move into and they can see and feel,” Moelis told the New York Times. Moelis is also behind the mixed-income Kalahari at 40 West 116th Street, which is now closing its last unit, five years after the buidling’s initial sales launch. “There’s not as big of an upside, but there’s also a lot less downside” to affordable housing development, he said. “When the market was really good in the early- to mid-2000s, we were doing well, but we weren’t hitting home runs. When the market got bad, we were still doing well.” [NYT]

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PS90

Harlem’s PS90, the abandoned public elementary school-turned-condominium at 220 West 148th Street between Adam Clayton Powell and Frederick Douglass boulevards, has been approved for Federal Housing Administration financing, the development team announced today. Sales launched in September at the 75-unit building, which is still under construction. Roughly 25 percent of its studios and one-, two- and three-bedroom units are reserved for middle-income residents and prices range from $400,000 to $899,000 for the market-rate homes. PS90 is being developed by L+M Development Partners and and marketed by Halstead Property Development Marketing. Occupancy is slated for this summer. Click here to see a slide show of The Real Deal’s backstage look at the one-time school’s transformation. TRD

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Residential Harlem development PS90, a former public school originally built in 1907 that  has sat unused for decades at 220 West 148th Street between Frederick Douglass Boulevard and Adam Clayton Powell Boulevard, has begun sales as it completes construction. The Real Deal got an exclusive tour of the construction site, as it transforms from a turn-of-the-century school to a modern condominium. The prices range from $475,000 for a 762-square-foot studio to $899,000 for a 1,630-square-foot penthouse unit in the building, developed by L+M Development Partners and listed by Halstead Property Development Marketing. See slide show above.

The on-site model apartment for the new PS90 condominium building at 220 West 148th Street opened today, according to a press release. The project is L + M Development’s $40 million conversion of the space, from public school to residential building, which will include 74 units. The building offers studios and one-, two- and three-bedroom units. The model apartment opening today is a 1,484-square-foot, two-bedroom, two-bathroom home, which is listed for $710,000. Sales on units began in mid-September. TRD

From the October issue: Its staggering decade-long, rags-to-riches rise made a revitalized
Harlem the media superstar of the Manhattan real estate boom. Which makes its steep fall all the more tragic. According to data from
Miller Samuel, Harlem saw only 83 co-op and condo sales in the first
two quarters of 2009, a more than 51 percent plunge compared to the 171
sales from the same time last year. But at least one bold and unique new project is coming to market and
could be a new bellwether for future residential activity there. Indeed, strong sales at PS90 Condominiums — a $40 million conversion
of a century-old public school that just opened its sales office last
month — could be an important boost for the Harlem market.

Renderings of PS90 at 220 West 148th Street

L+M Development Partners and Halstead Property Development Marketing have kicked off sales at PS90 Condominium, according to a press release. The former public school, located at 220 West 148th Street between Seventh and Eighth avenues in Harlem, was built in 1905 and had been vacant since the 1970s. The redeveloped building, which is still under construction, will contain 75 units, including studios and one-, two- and three-bedroom homes. Prices range from $450,000 to $899,000. Residents can move in starting next year. TRD [more]