The Real Deal New York

New residential developments


March 31, 2009


Construction update

Brooklyn Heights

One Brooklyn Bridge Park

360 Furman Street

Newmark Knight Frank Residential Construction Services last month completed the conversion of the former warehouse into a 438-unit condo. Apartments range from studios to four-bedroom units. Amenities include 7,000 square feet of landscaped gardens and an indoor virtual golf driving range. Contact: www.one-brooklyn.com.

Rockaway Peninsula

Waters Edge at Arverne

190 Beach 62nd Street

Construction began in late February on the final phase of the Briarwood Organization-developed condominium. The affordable housing project has two- and three-bedroom units in two-story homes. The phase currently under construction consists of 54 units in 27 homes. The previous phase included 76 units in 38 homes, and 68 percent of the units in that phase were sold as of mid-February. Two-bedrooms start at $188,000 and three-bedrooms at $317,000. Contact: www.watersedgecondos.net.

Financing update

Downtown Brooklyn

Belltel Lofts

365 Bridge Street

Clipper Equity’s 250-unit project will have no taxes through 2019, the Brooklyn Eagle reported. More than 55 percent of the building’s units had been sold as of mid-March, and all of the sold units are occupied. Unit prices range from $625,000 to $1.89 million. Amenities in the landmarked building include a fitness center, screening room and business center. The Bracha Group is the exclusive sales and marketing agent. Contact: www.belltellofts.com.

Leasing update

Lower Manhattan

20 Exchange Place

The Metro Loft Management-developed building has released the remaining 200 apartments for rent. Studios through two-bedroom units are available on the 16th through 57th floors, and rents start at $2,100. Move-ins have already begun. The 800,000-square-foot, converted art deco building was built in 1931. Amenities include a fitness center, residents’ lounge, valet and a landscaped sundeck on the 19th floor. There will be more than 100,000 square feet of on-site retail space. Contact: www.20xnyc.com.

Sales update

Chelsea
The Prime

333 West 14th Street

One unit at the Prime was in contract as of mid-February. Sales at the nine-unit building began in September 2006. There are seven 2,341-square-foot residences with balconies, a 3,815-square-foot duplex with a 780-square-foot private garden and a 5,400-square-foot triplex penthouse with 1,420 square feet of outdoor space. Occupancy is slated for spring. RP Miller is the exclusive sales and marketing agent. Contact: www.theprimecondos.com.

Greenwich Village

173 MacDougal Street

Sales are under way at Property Markets Group’s eight-unit building, and four units are in contract, according to the Corcoran Group Web site. Each unit has three bedrooms, with an option to combine units for a full-floor, six-bedroom unit. The penthouses have roof terraces and outdoor Jacuzzis. Prices range from $3.85 million to $9.6 million. The Corcoran Group is the exclusive sales and marketing agent. Contact: www.macdougallofts.com.

Note: Correction appended.

Fashion District/Times Square

Galerie 515 Hotel & Condominium Residences

515 Ninth Avenue

The sales office is now open for Assa Properties’ project. Buyers in the 92-unit building will have access to hotel amenities, which include 24-hour room service. Condominium amenities include valet parking and a fitness center. Prices for the studio, one- and two-bedroom units begin in the high $700,000s. Contact: www.galeriecondo.com.

Fort Greene

Classic Modern

268 Cumberland Street

As of early March, eight units at the Marshall Sohne-developed building were in contract after three weeks on the market, Brownstoner.com reported. The building has interiors designed by Hadas Metzler of Metzler Design. The units are studios, one-bedrooms, one-bedrooms with home offices and one-bedrooms with attics. Aptsandlofts.com is the exclusive sales and marketing agent. Contact: www.theclassicmodern.com.

Long Island City

31-01 Vernon Boulevard

Sales are about to begin at the Sohmer Piano Factory, which was converted into a 69-unit condominium designed by Caliendo Architects. The studio, one-, two- and three-bedroom units range from 412 to 1,692 square feet. Apartment prices range from $270,000 to $1.44 million. Amenities include a fitness center, screening room, pet spa, storage and parking. Prudential Douglas Elliman is the exclusive sales and marketing agent. Contact: www.pianofactorycondos.com.

Postponed projects

Long Island City

Solarium

5-43 48th Avenue

Sales and marketing have been delayed at this building to wait out the market, A Fine Blog reported in late February. The condominium is slated to include 28 units selling for $725 to $750 per square foot. Amenities include a rooftop garden and private balconies.

Compiled by Sara Polsky

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