New Residential Developments

Oct.October 24, 2007 11:29 AM

Chelsea
Indigo Condominium
125 West 21st Street
Alchemy Properties topped off the 13-story, 52-unit condominium, the developer’s sixth project in Chelsea, in early March. Designed by FXFowle Architects, the building will have an indigo-colored strip on its zinc façde. Studio to three-bedroom units will range in size from 605 to 1,758 square feet, with prices running from $585,000 to $2.1 million. Completion is scheduled for this fall. Contact: www.indigo-21.com.

Chelsea
200 11th Avenue
Developer Young Woo & Associates is building the 19-story, 16-unit condominium designed by Annabelle Selldorf. The building will have a stainless steel tower rising from a glazed terra cotta base. Amenities include the city’s first en-suite garage, an internal elevator system that delivers residents’ cars to a private 300-square-foot space adjacent to their units. The one- to three-bedroom units range in size from 1,300 to 3,500 square feet; 12 of the units are duplexes. Prices run from $2.5 to $14 million. Occupancy is scheduled for fall 2008. Prudential Douglas Elliman is handling sales and marketing. Contact: www.200eleventh.com.

Harlem
Fifth on the Park
1496 Fifth Avenue
Uptown Partners has launched sales for the 28-story, 160-unit condominium designed by FXFowle Architects. Studio to four-bedroom units range in size from 550 to 2,900 square feet, with prices running from $355,000 to $2.8 million. A 1,800-seat church will occupy the first five floors, and the developer has set aside 47 rental units to be owned by the Bethel Gospel Assembly Church. Occupancy is slated for summer 2008. Griffin Real Estate is handling sales. Contact: www.griffinny.com.

Kensington
Kensington Townhouses
Beverley Road and East 7th Street
The sales office has opened for the newly built 10-townhome development located south of Prospect Park in Brooklyn. The developer is Gracie Developers, a subsidiary of Hidrock Realty. The homes, six of which are duplexes, range in size from 1,000 to 1,650 square feet. Prices run from $450,000 to $675,000. Occupancy was slated to begin last month. The Corcoran Group is the sales agent. Contact: www.corcoran.com.

Lower Manhattan
District
Corner of Ann and William streets
The 163-unit condo project will have units ranging in size from 495 to 2,140 square feet. Leviev Fulton Club LLC is developing the site, Karl Fischer Architects is designing the exterior of the building, and Andr s Escobar is handling the interior. Sixty percent of the units will be priced under $1 million. The sales center is slated to open in late April. JC DeNiro & Associates is the exclusive sales and marketing agent.

Park Slope
Novo
343 Fourth Avenue
Boymelgreen Developers, the Katan Group and Tona Development & Construction are building the 12-story, 113-unit condominium, which will have interiors designed by Andr s Escobar. Studio to three-bedroom units range in size from 415 to 1,595 square feet, with prices starting from approximately $310,000. Amenities include a private landscaped garden. Occupancy is anticipated in summer 2007. The Corcoran Group is the exclusive marketing and sales agent. Contact: www.novoparkslope.com.

Riverdale
Arbor
3260 Henry Hudson Parkway
Hudson Arlington Associates is developing the nine-story, 127-unit condominium in the northwest Bronx. One- to four-bedroom units ranging in size from 790 to 2,000 square feet are priced from $450,000 to $1.45 million; many will have private outdoor space. Occupancy is expected in late 2008. The Marketing Directors Inc. is the marketing and exclusive sales agent. Contact: www.arborcondo.com.

Sheepshead Bay
The Breakers of Sheepshead Bay
3112-3144 Emmons Avenue
Sales have begun at the three-building gated community on the south Brooklyn waterfront. The 75 condominium units are priced from $377,000 to $1.585 million. Architect Elena Kalman designed the project, where amenities include a landscaped common courtyard, indoor and outdoor parking spaces, a seaside boardwalk and private marina slips reserved for residents. Occupancy is slated for December 2007. Brown Harris Stevens is the co-exclusive listing agent. Contact: www.thebreakers-brooklyn.com.

Upper East Side
The Lucida
151 East 85th Street
Extell Development has launched sales for the 18-story, 110-unit green condominium, the first LEED-certified residential building in the neighborhood, according to Extell. Cook + Fox Architects designed the project, where units range in size from 1,445-square-foot two-bedrooms to 3,500-square-foot five-bedrooms, including eight duplex penthouses. S. Russell Groves designed the interiors. Prices start at $1.95 million. Occupancy is slated for late 2008. The Corcoran Sunshine Marketing Group is the exclusive marketing and sales agent. Contact: www.thelucida.com.

Upper East Side
Diamond House
170 East 77th Street
Sales have begun at the 11-story condominium conversion of a rental building originally built in 1940. One- to four-bedroom units range in size from 895 to 2,500 square feet and are priced from $895,000 to $5.95 million. Dominion Management plans to convert more rental units in the building as they become available. Spivak Architects is overseeing the renovation and design, which will include a glass canopy and skylight for the lobby. Warburg Marketing Group is the sales agent. Contact: www.170e77.com.

Upper West Side
Harsen House
120 West 72nd Street
The 16-story, 22-unit environmentally friendly condominium is slated to become the neighborhood’s first LEED-certified residential development, according to exclusive marketing and sales agent Corcoran Sunshine Marketing Group. The building will have a mix of two- and four-bedroom units. The two-bedrooms are priced from $1.85 to $2.65 million; four-bedrooms will go for $4.25 to $5.75 million. Occupancy is scheduled for spring 2008. Contact: www.harsenhouse.com.

Upper West Side
Linden78
230 West 78th Street
Urban Residential is developing the 20-story, 35-unit condominium designed by Handel Architects. The building will have two units per floor, and some of the two- to four-bedrooms and three-bedroom penthouses will have outdoor space. Amenities include a private outdoor garden that opens off the lobby. The Corcoran Sunshine Marketing Group is the marketing and sales agent. Contact: www.linden78.com.

Upper West Side
2207 Broadway and
390 West End Avenue
The historic Apthorp building is slated for a condominium conversion following the purchase by Africa Israel Investments of a 50 percent stake in the property. The 445,000-square-foot rental building has 163 units around a central courtyard. One hundred of the units are rent-stabilized, so the owners would probably not be able to generate sales revenue in the short term on the majority of the property without offering buyout packages to its existing tenants. Africa Israel said it plans to expand the building by exploiting unused air rights, but because the building is landmarked any expansion would have to clear the Landmarks Preservation Commission. Africa Israel plans to spend $95 million on renovations.

Construction Update

Flatiron
Chelsea Landmark
55 West 25th Street
The 38-story, 406-unit luxury rental is nearing completion, with occupancy expected in late April. A joint venture of Marine Estates and Rose Associates is developing the project, which will offer studios to three-bedrooms with rents ranging from $2,695 to $7,295 per month. Rose Associates is the exclusive leasing agent for the project. Contact: www.chelsealandmark.com.

Long Island City
EastCoast
Rockrose Development in early March topped off Site 7, the second rental building in the EastCoast complex. The building will have 394 studio to two-bedroom units, which are slated for occupancy later this year.

Lower Manhattan
80 South Street
Gregg Pasquarelli, a partner with SHoP Architects who is also the architect for the city’s planned East River Waterfront, said at a Community Board 1 meeting in late February that the Santiago Calatrava-designed 80 South Street project was “still alive,” Curbed.com reported. The architecturally ambitious — and prohibitively expensive — skyscraper planned for the South Street Seaport area has been discussed for three years. As of December, the project’s marketing company had been fired and no sales had been reported for the tower’s 10 glass townhouses, which are priced at $29 million and up.

Financing

Clinton Hill
4-8 Downing Street
Meridian Capital Group arranged $4 million in financing for the condominium conversion of the Broken Angel building. Owner Arthur Wood has partnered with local developer Shahn Andersen to convert the eccentric building into 17 condominium units.

Soho
209-211 Hester Street
Sonnenblick Goldman arranged a $31 million recapitalization of the 14-unit warehouse-to-condominium conversion. Developer AS Realty Partners plans to begin marketing the residences this month, with completion expected by the end of the year.

Sales Update

Bushwick
The Aventurine Condominiums
18-22 Goodwin Place
Sales have begun for the 24-unit condominium located in northeast Brooklyn. The studios to two-bedrooms range in size from 720 to 1,500 square feet, with prices running from $365,000 to $465,000. Units will have private balconies or backyards. Citi Habitats is the sales agent. Contact: www.citi-habitats.com.

Chelsea
100 West 18th Street
The Brauser Group sold eight of the 10-story condominium’s 41 units within one week of opening the off-site sales office. Prices range from $1 to $6 million. Contact: www.100west18.com.

Downtown Brooklyn
Oro Condominiums
306 Gold Street
By the beginning of March, 56 of the 40-story condominium’s 303 units had been sold, the New York Sun reported. Sales began in February. Prices for available units range from $340,000 for a 453-square-foot studio to $985,000 for a 1,334-square-foot two-bedroom. Prudential Douglas Elliman is handling sales and marketing. Contact: www.orocondos.com.

Greenwich Village
184 Thompson Street
The eight-story, 125-unit condominium was more than 60 percent sold by the end of February; the on-site sales office opened in October 2006. The Developers Group is the exclusive sales and marketing agent. Contact: www.184thompson.com.

Harlem
The Kalahari
40 West 116th Street
Sales are under way at the two-building, 12-story, 129-unit green condominium, where 25 percent of the energy requirements will be met by wind and solar power. One- to three-bedrooms range from 725 to 1,850 square feet, with prices running from the $500,000s to more than $1 million. The Marketing Directors Inc. is the exclusive marketing and sales agent. Contact: www.kalahari-nyc.com.

Harlem
Casa Loma
229 West 116th Street
Sales have opened at the 16-unit condominium developed by Manor Management. One-bedrooms start at $450,800; two-bedrooms start at $550,000; and a 1,660-square-foot duplex is asking $750,000. Warburg Marketing Group is the exclusive sales agent. Contact: www.warburgrealty.com.

Harlem
Rhapsody on Fifth
2056 Fifth Avenue
The off-site sales office opened in February for the seven-story, 22-unit condominium conversion, and several contracts had been signed within a few weeks. Prices start in the mid-$400,000s, and occupancy is expected in September 2007. The Marketing Directors Inc. is the marketing and exclusive sales agent for the project. Contact: www.rhapsodyonfifth.com.

Long Island City
The Echelon
13-11 Jackson Avenue
The 12-story, 54-unit condominium was 80 percent sold as of mid-February, within four months of the start of sales. Contracts have been signed for 43 units. The Developers Group is the exclusive sales and marketing agent. Contact: www.echelonlic.com.

Prospect Heights
171 Prospect Place
Sales are under way at the four-unit conversion of a brownstone. Units range in size from 718-square-foot two-bedrooms to a 1,720-square-foot duplex. Prices run from $553,000 to $1.22 million. The Corcoran Group is the exclusive sales agent for the project. Contact: www.corcoran.com.

Tribeca
88 Leonard Street
Leasing is under way for the 21-story, 352-unit rental developed by Leviev Boymelgreen and designed by the Walker Group and Costas Kondylis & Partners. Unit sizes in the 387,000-square-foot tower range from 410 to 1,825 square feet. Rents for available units run from $2,350 for a studio to $12,000 for a penthouse. Rose Associates is the exclusive leasing and managing agent for the project. Contact: www.88leonard.com.

Upper East Side
The Legacy
157 East 84th Street
Sales began last month for the seven-unit condominium designed by Costas Kondylis, the New York Post reported. The two ground-floor townhouses, three floor-through units and two duplex penthouses, which range from 3,300 to 5,200 square feet in size, are priced from $5.6 to $7.7 million.

Upper East Side
170 East End Avenue
Two-thirds of the condominium’s 92 units had been sold by early March. The remaining 30 units are priced from $1.175 to $2.35 million for one- and two-bedrooms and from $2.75 to $16 million for three- to five-bedrooms. The Sunshine Group is the exclusive marketing and sales agent for the project. Contact: www.170eea.com.

Upper West Side
Sheffield 57
322 West 57th Street
The 50-story, 600-unit condominium conversion was 15 percent sold as of mid-February, with prices averaging $1,500 a square foot, according to the Sun. Prices for available units range from $760,000 for a 585-square-foot junior one-bedroom to $2.775 million for a 1,599-square-foot three-bedroom. Occupancy is scheduled for later this year. Contact: www.sheffield57.com.

Development in Brief

Manhattan (north to south)

300 East 79th Street
A new 40-unit condominium is under construction at the site, the New York Post reported. An 850-square-foot apartment is priced at $1 million, or $1,176 per square foot. The penthouse will go for just under $2,000 a square foot.

460 West 58th Street
Alchemy Properties plans a 60-unit condominium at the site, the New York Sun reported.

Third Avenue between 13th and 14th streets
Milstein Properties is likely to build an eight-story residential building of up to 100,000 square feet on the vacant 20,000-square-foot lot, according to the Sun. Milstein has held the site for two decades without developing it.

25 Park Place
The five-story, 26,705-square-foot building was sold for $10 million and could be converted into condominiums.

99 Church Street
Silverstein Properties plans to build a 60-story hotel and condominium after razing the 11-story office building that currently stands at the site. The tower’s first 20 stories will house a boutique hotel, and a luxury condominium is planned for the upper floors.

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