The Real Deal New York

Atelier condo combo hits market for $85M

April 04, 2013 04:30PM

A block of nine apartments at the Atelier condominium tower in Hell’s Kitchen hit the market today with an asking price of $85 million. If combined as advertised, the units would become a 10,000-square-foot apartment spanning the entire 45th floor at 635 West 42nd Street.

The price includes a $2 million construction credit, according to Curbed, which first spotted the listing.

Combination listings at the 46-story building are relatively common, and many of the units currently for sale are different amalgamations of the same apartments. They could all be purchased for less than $85 million, Curbed noted.

In the past, River 2 River Realty president Dan Neiditch — who lives in the building and presides over the on-site sales office — has brokered deals with owners who weren’t necessarily looking to sell but fell into the right circumstances, as The Real Deal has reported.

For example, this past June, Indian media titan Subhash Chandra began construction on a six-bedroom triplex fashioned out of three condos, including one belonging to Neiditch. Those units, which cost a total of $4.8 million, are on the 42nd, 43rd and 44th floors — or directly below the nine-unit offering.

In this instance, the nine condos appear to belong to different individuals and LLCs.

The Building Boasts A Tennis Court, golf driving range, pool, multimedia lounge and billiards room, gym, basketball courts, free wireless Internet, free daily breakfasts and a crosstown shuttle bus, according to the listing.

Meanwhile, construction is humming along at the Atelier II across the street. An earlier incarnation of the project called for a 57-story condo tower, although it is now planned as a rental. — Leigh Kamping-Carder