Elad Group, the developer behind one of New York City’s most talked about – and most fraught — projects of the last decade, the conversion of the Plaza hotel, has lost another executive, prompting some to wonder what the Israel-based firm is up to these days. [more]
Posts Tagged ‘tom elliott’
The ongoing financial crisis has made many prospective condominium buyers reluctant to buy based on specifications alone, the Wall Street Journal reported, but one Tribeca whole-block warehouse conversion project, between Hubert and Laight streets, is bucking the trend.
The Elad Group’s 250 West Street is drawing strong interest, the Journal said, thanks to its large units, and is selling despite the fact that it won’t be completed till fall 2012. Twenty-two buyers have reportedlt signed contracts so far in the 111-unit building and 11 more have made deals to purchase, but have not yet gone into contract.
“Believe it or not, we have a market going, despite a global financial collapse,” said Donna Olshan, president of Olshan Realty and publisher of a newsletter on apartments selling for more than $4 million in Manhattan. Last week four of 10 such sales were at 250 West Street, she said.
Back in 2008, the Elad Group found a buyer for its Tribeca warehouse building at 250 West Street but it turned out the buyers couldn’t come up with the cash. Elad held on to the 11-story warehouse, occupying an entire block from West to Washington streets, and has today listed the first of its units, according to Curbed.
Prices range from $1.15 million for a 1,035-square-foot studio to $9 million for a 4,018-square-foot three-bedroom with 325 square feet of outdoor space, according to data from Streeteasy.com.
The building isn’t yet completed, so brokers will have to sell using just a model apartment. … [more]
Developer the Elad Group has unveiled its first new condominium building in New York since 2006. The condo, at 250 West Street, will have 111 units in a renovated 11-story warehouse occupying an entire block from West Street to Washington Street in Tribeca, the New York Times reported, and is set to be completed by the fall of 2012.
Units will range from 1,250-square-foot studios to 5,000-square-foot four-bedrooms, said Tom Elliott, vice president of Elad, as well as a penthouse with its own garage and elevator. The apartments would most likely be listed for $2 million to $10 million, he said.
Elad, which is behind the embattled conversion of the Plaza Hotel, recently sold the last condo at the 181-unit Plaza.