Soho condo conversion nears completion, selects marketers

November 11, 2011 02:10PM

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Clockwise from top left: John Gomes, executive vice president of Prudential Douglas Elliman, 111 Mercer Street and Fredrik Eklund, managing director of Prudential Douglas Elliman
As construction nears completion at the condominium conversion at 111 Mercer Street, developer Veracity Developments said it is preparing to launch sales in the five-story, four-unit Soho building early next year. Veracity has tapped the Prudential Douglas Elliman team of managing director Fredrik Eklund and John Gomes, executive vice president, to market the building.

Veracity purchased the 11,365-square-foot property, first built in 1900 in what is now the Soho Cast Iron Historic District, for $12.35 million in 2008 and added a penthouse with the blessing of the Landmarks Preservation Commission. The renovated building has ground-floor retail underneath four residential units, three two-bedroom plus office lofts and a three-bedroom penthouse triplex, which will start at about $4.25 million and range up to $10 million. The penthouse will have two fireplaces, and terraces with an outdoor kitchen, outdoor shower and outdoor fireplace.

“We take pride in our developments and want only the best in all categories — from quality to design, and down to the sales and marketing team,” said Edmond Li, owner of Veracity Development, which also developed the long-delayed Nolitan Hotel.

There’s no exact launch date yet, as construction isn’t complete, though the building is CPS1 approved. — Adam Fusfeld