Developer Michael Stern was escorted by his nine-year-old daughter, Gabrielle, to the opening night gala of Hearst’s annual Designer Visions open house at Walker Tower last month. The two greeted guests in the Art Deco–style lobby of the newly completed condo conversion, developed by Stern’s JDS Development Group and Property Markets Group.
“This is my boss,” Stern said of his daughter.
He noted that the building’s 47 apartments are now virtually sold out, though there are some units remaining.
The restoration of the 1920s-era building, formerly owned by Verizon, required a gut renovation. “We took it back down to slabs and concrete,” Stern said.
Stern will now turn his attention to another former Verizon tower designed by Ralph Walker at 425 West 50th Street, which he’s converting to condos. He’s also planning a 1,350-foot residential skyscraper on West 57th Street.
The Designer Visions event evidently helped sales: A few days later, Walker Tower’s five-bedroom penthouse reportedly went into contract for over $50 million.
Back to the Big 10
Town Residential founder Andrew Heiberger told TRD last month that he had just returned from his annual “Dads Trip” to his alma mater, the University of Michigan, with six college friends and their kids. The group — which included Manhattan real estate attorney Daniel Roshco and Chris Mongeluzo of Newmark Grubb Knight Frank — attended a Michigan football game. Also in Heiberger’s class at Michigan was Jeff Blau, now CEO of the Related Companies.