Walker Tower residents now scooping up Stella Tower units

The buildings were renovated by the same development partnership

TRD New York /
Jun.June 23, 2014 06:10 PM

The partnership that renovated the pre-war Walker Tower in Chelsea is getting more bang for its buck, as a number of residents are now buying units at another of its projects in Hell’s Kitchen.

Six owners at Walker Tower have scooped up condos at the 51-unit Stella Tower at 425 West 50th Street. Like Walker, that tower was designed by Ralph Walker as a commercial building and refurbished by JDS Developments Group, Property Markets Groups and Starwood Capital Group.

In some cases, tenants have flipped units at Walker Tower in order to buy and quickly resell condos at Stella, Vickey Barron of Douglas Elliman, told Crain’s. The first unit at Walker Tower sold about nine months ago in November.

Residents in two other Walker units are investing in Stella Tower apartments for their children, and another Walker owner will rent out his condo.

About 60 percent of Stella Tower’s condos have sold during during the first six weeks of sales. Prices have averaged more than $2,000 per square foot, according to Crain’s. [Crain’s] — Tom DiChristopher


Related Articles

arrow_forward_ios
Lanhee Yung and Sush Torgalkar (Photos via Cornell; Getty)

Extell, Starwood alums seek $500M for “contrarian” investing

Extell, Starwood alums seek $500M for “contrarian” investing
Walker Tower at 212 West 18th Street (iStock; Courtesy JDS, Core NYC)

Condo board can’t stop sale of 1MDB penthouse at $33M discount

Condo board can’t stop sale of 1MDB penthouse at $33M discount
Walker Tower at 212 West 18th Street with in-contract buyer Ron Vinder (left), and prior owner Khadem al-Qubaisi (right) (Images from JDS Development, Morgan Stanley, Pixabay)

Walker Tower board fights “low-ball” sale of 1MDB-linked penthouse

Walker Tower board fights “low-ball” sale of 1MDB-linked penthouse
Barry Sternlicht (Getty)

Barry Sternlicht predicts “tipping point” for NYC

Barry Sternlicht predicts “tipping point” for NYC
Walker Tower at 212 West 18th Street (Courtesy JDS, Core NYC)

Walker Tower condo board opposes heavily discounted sale of 1MBD unit

Walker Tower condo board opposes heavily discounted sale of 1MBD unit
WATCH: JDS’ Stern and SHoP’s Pasquarelli on shaping the skyline

WATCH: JDS’ Stern and SHoP’s Pasquarelli on shaping the skyline

WATCH: JDS’ Stern and SHoP’s Pasquarelli on shaping the skyline
TPG Real Estate Finance Trust CEO Greta Guggenheim and Starwood Capital CEO Barry Sternlicht (Getty)

TPG RE Finance gets $325M infusion from Starwood

TPG RE Finance gets $325M infusion from Starwood
Ashford Inc. CEO Monty Bennett (Credit: Ashford)

Monty Bennett-tied companies to return $68M in PPP funds

Monty Bennett-tied companies to return $68M in PPP funds
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...