From left: a rendering of the exterior of 455 West 20th Street and the atrium lobby
While sales officially launched only yesterday at the Brodsky Organization’s 455 West 20th Street development in Chelsea, half of the 22 units are already in contract, including the $12.6 million penthouse, a representative for Brodsky confirmed to The Real Deal today. [more]
Two exterior renderings of 135 East 79th Street and architect William Sofield
From the December issue: For most the past four decades, the entire block along 79th Street between Park and Lexington avenues has been blighted by the Hunter College School of Social Work. But the building, which was erected in 1972, was razed two years ago to make way for a luxury condominium: 135 East 79th Street. The main problem with the Hunter building was its woeful inadequacy to its context: amid the Upper East Side’s turn-of-the-century gentility of Georgian classicism, Art Deco and a few surviving townhouses, here was a sudden (and clamorous) barrage of 1970s Modernism. The building might have made a bit more sense in Midtown, but here on East 79th Street, it radiated a tremor of menace, even sleaze, in all directions. [more]
From left: Daniel Brodsky and the Desmond Tutu Center
The Brodsky Organization and MCR Development, the new owners of the Desmond Tutu Center’s hotel, say they have laid 12 of its 17 workers, due to Hurricane Sandy damage, DNAinfo reported. But the individuals who lost their jobs said they were fired, then offered the same position at lower wages. [more]
A rendering of one of the buildings at City Point in Downtown Brooklyn
The Brodsky family has been developing Manhattan real estate for more than 50 years, eventually becoming the city’s largest developers of middle-class housing. But the development group is now turning its attention to a 440-unit rental project at 336 Flatbush Avenue Extension in downtown Brooklyn, known as City Point, according to the Wall Street Journal.
Dean Amro, the grandson of Nathan Brodsky, said the firms is focusing now Brooklyn because Manhattan has simply become too expensive for middle-class or affordable housing. ”We couldn’t find locations in Manhattan,” Amro said, noting recent changes in Brooklyn that have made it an increasingly attractive place to live. “We have a lot of excitement about going into Brooklyn and we think in the long term it will be good for us.” [more]
From left: Daniel Brodsky and the Desmond Tutu Conference Center
General Theological Center’s Desmond Tutu Conference Center at 180 10th Avenue in Chelsea has sold to the Brodsky Organization for $16 million, Curbed reported.
The developer bought the property under the name “The Highline Hotel LLC.” [more]
Daniel Brodsky and 135 East 79th Street
New details about the Brodsky Organization’s 135 East 79th Street come from a teaser site for the 19-story, 32-unit residential property — and it hints at the kinds of tenants that Brodsky envisions living there. According to Curbed, brokers and buyers are being asked about their unit-size preferences, with options ranging from two to five bedrooms. Prices are to range from $6.8 million to more than $20 million, Curbed said. [more]
Daniel Brodsky and 422 West 20th Street
Betting on the appeal of low-priced Chelsea condos, the Brodsky Organization is taking the unusual step of launching sales in the latest phase of its General Theological Seminary condo conversion with an open house next weekend.
The Wall Street Journal reported that the 38-unit condo, at 422 West 20th Street, will have one- to three-bedroom units ranging from $640,000 to $2.1 million. [more]
The General Theological Seminary, an episcopal seminary in Chelsea, has sold another building to the Brodsky Organization, Curbed reported. The religious organization has been in the process of selling a number of buildings to the developer to convert to luxury condominiums since 2010, when it encountered financial trouble.
The seminary just sold 445 West 20th Street, between Ninth and 10th avenues, to Brodsky for $18.5 million, according to city records. It was not immediately clear what the exact plan for the building was. [more]
The Gotham Organization broke ground today on the largest new construction project in Manhattan, a $520 million development encompassing nearly the entire city block on Manhattan’s Far West Side at 550 West 45th Street between 10th and 11th avenues. The residential portion of the project, which is slated to be completed in 2014, will create 1,238 new rental apartments with 600 of those units expected to be affordable to low-, moderate- and middle-income New Yorkers.
“The groundbreaking for this development is the latest sign that the Far West Side will soon be Manhattan’s next great neighborhood,” Deputy Mayor Robert Steel, who attended the groundbreaking ceremony, told the crowd. And he’s not the only one with that vision. … [more]
The Brodsky Organization has obtained a $120 million construction loan to begin building a 19-story Upper East Side condominium in January, Crain’s reported.
The developer bought the property from Hunter College, which previously used the land for its school for social work, for $65 million in 2008 and had been waiting to develop it ever since. But as part of the purchase agreement, Brodsky had to replace the social work school at a site in Harlem, on Third Avenue between 118th and 119th streets, before it could begin construction. That school is now open, Crain’s said. … [more]
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