Inside the Beekman Residences: PHOTOS

One quarter of units under contract at GB/GFI project, with average sales price of $2,200 psf

New York /
Nov.November 10, 2014 01:31 PM

One month after launching sales, a quarter of the Beekman Residence’s 68 condos are under contract, for an average price of $2,200 per square foot.

“It’s unheard of,” Douglas Elliman’s Fredrik Eklund, who is marketing the historic conversion with John Gomes, told The Real Deal. “Obviously, it’s a big milestone for a 51-story building like this.”

Allen Gross’ GB Lodging and GFI Development bought 5 Beekman Street, a landmark property formerly known as Temple Court, for $64 million in 2012. They are converting the property, as well as an adjacent property at 115 Nassau Street, into a 350,000-square-foot development that will include the Beekman Hotel and a conjoining 51-story condo tower. The new tower is comprised of the Beekman Residences, starting on the 17th floor, with part of the 287-room Beekman Hotel at the base. Condo sales launched in early October, and construction is currently at the 20th floor level.

The condos under contract are a mix of one-, two- and three-bedroom units, according to Eklund. The majority of the units sold are on lower floors, as units on the top floors are yet to be released. Additional units are being put on the market each week, he said.

Overall, the development has 20 one-bedrooms starting at $1.2 million, 39 two-bedrooms from $2.95 million and eight three-bedrooms starting at $3.7 million. Apartments will measure 700 to 3,550 square feet, and will include two full-floor penthouses on the 50th and 51st floors that will measure 3,550 square feet. Pricing for the penthouses hasn’t been disclosed.

The 287-room hotel, which will include restaurants from chefs Keith McNally and Tom Colicchio, will be operated by the Thompson Hotels, and is set to be complete in 2015.


Related Articles

arrow_forward_ios
GFI and Marx raise north of $60M apiece in Tel Aviv bond offerings
GFI and Marx raise north of $60M apiece in Tel Aviv bond offerings
GFI and Marx raise north of $60M apiece in Tel Aviv bond offerings
Fredrik Eklund and John Gomes (The Society Group, 53w53)
Eklund-Gomes couples 53W53 open house with magazine launch
Eklund-Gomes couples 53W53 open house with magazine launch
Fredrik Eklund (Photo-illustration by Paul Dilakian)
Inside Austin’s luxury market
Inside Austin’s luxury market
Ranking Manhattan’s top residential brokers of 2021
Ranking Manhattan’s top residential brokers of 2021
Ranking Manhattan’s top residential brokers of 2021
Allen Gross, chairman, GFI, in front of 119 West 56th Street (GFI Hospitality, Dkfreitas, CC BY-SA 4.0/via Wikimedia Commons)
GFI, Elliott Management plan 99 condos at Midtown hotel
GFI, Elliott Management plan 99 condos at Midtown hotel
Hunie Kwon and Grace Steel (iStock, Compass, StreetEasy)
Eklund Gomes Team’s Hunie Kwon and Grace Steel jump to Compass
Eklund Gomes Team’s Hunie Kwon and Grace Steel jump to Compass
Fredrik Eklund with Tyler Whitman, Ryan Serhant, and Kirsten Jordan and Steve Gold (Getty, Bravo TV)
“The end of an era”: Fredrik Eklund quits Million Dollar Listing
“The end of an era”: Fredrik Eklund quits Million Dollar Listing
Fredrik Eklund and his Beverly Hills home (Getty, Redfin)
Fredrik Eklund reps himself in $7M Beverly Hills buy
Fredrik Eklund reps himself in $7M Beverly Hills buy
arrow_forward_ios

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

Loading...