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New York

Young developers building luxe condos

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Several young developers are putting up luxury condos around the city. Icon Realty Management, run by 29-year-olds Terrence Lowenberg and Todd Cohen, are building a 15-story luxury condominium at 985 Park Avenue. Magnum Real Estate’s 30-year-old Ben Shaoul is behind projects including the Yves in Chelsea and a rental at 636 East 11th Street, where rents are as high as $7,500 a month. Twenty-nine-year old Eric Brody of the Brody Group is building luxury condos in Brooklyn at 457 Atlantic Avenue, 132 North 6th Street and 47 Dean Street. The Real Deal looked at young developers in its February issue.