The Real Deal New York

Manhattan New Residential Development

October 16, 2007

Lower Manhattan
29 John Street

Conversion of 80,000 square foot office building into 50 luxury condos. The developer is Y.L. Real Estate Developers a partnership between Yair Levy and Ezra Mashaal of the Kash Group. The architect is Arpad Baksa. Interiors and amenities are being designed by Shamir Shah, and include a rooftop gym. Contact: Douglas Elliman Development Marketing Group, 212-702-4060.

Midtown
325 Fifth Avenue

Construction scheduled to begin shortly on a 250-unit condo project between 32nd and 33rd Streets. The building, which is expected to be completed in early 2006, is being developed by a joint venture between Continental Properties, owned by the Fisch family, and Jeffrey Levine’s Douglaston Development. Prices are not yet announced.

Midtown
125-135 West 31st Street

Fifty-eight story project being built by a partnership of the Franciscans of the Holy Name Province, the Durst Organization and Sidney Fetner Associates. The building will include a residence operated by the American Cancer Society for patients in treatment, new facilities for the church and 460 rental apartments, 20 percent of which will be for low-income households.

Upper East Side
Hampton Court
333 East 102nd Street

Glenwood Management is now leasing an eight-story, 229-unit rental building at First Avenue. Net effective rents start at $1,765 for a one-bedroom, $2,015 for a two-bedroom and $2,655 for a three-bedroom apartment. Amenities include hardwood parquet floors, marble bathrooms, 24-hour doorman, virtual concierge service, fitness center, children’s playroom, shuttle to the 86th Street subway and a courtyard. This is the first luxury residence above 100th Street, according to Glenwood. Contact: Glenwood, 1-877-535-0500.

Upper East Side
The Carhart Mansion
3 East 95th Street

Formerly one of several Upper East Side townhouses belonging to the Lyc e Fran ais de New York, the 38,810 square foot building off Fifth Avenue is being converted into four luxury condos. The development will include a five-bedroom triplex and a four-bedroom penthouse, both asking $21 million, a duplex asking $15.5 million and a three-bedroom apartment asking $10.5 million. When completed in March 2005, the residences will include five powder rooms, a wine vault and a wet bar, private storage, 11-foot ceilings and two butler’s pantries, according to the New York Observer. London architect John Simpson is working on the project. Contact: Carrie Chiang at Corcoran, 212-836-1088.

Upper East Side
21 East 96th Street

Eleven-story condo with nine units, all exceeding 3,000 square feet and with prewar layouts. Four-bedroom, four-bathroom apartments are selling in the range of $4 million. The building is set to open in a year, and five units have already been sold. Contact: Sophie de Sanctis, Corcoran, 212-360-6486.

Construction Update:

Chelsea
555 West 23rd Street

A topping out ceremony was held last month for the 14-story luxury rental building between 10th and 11th Avenues. To be opened in spring 2005, the building will have 337 studio, one- and two-bedroom apartments. It was designed by the Stephen B. Jacobs Group and by interior designer Andi Pepper. The developer is Levine Builders. Contact: Leasing consultant Nancy Packes, Halstead/Feathered Nest, 212-508-7456.

New Developments From Previous Months

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