New Residential Developments

Oct.October 26, 2007 03:24 PM

Battery Park City
The Albanese Organization beat out four other companies last month to construct a green residential building in Battery Park City, which would be their third there. The tower will go on Site 3 between First and Second Place and Battery Place and Little West Street. The 20,000-square-foot site can be constructed to 423,200 square feet and must include 40,000 square feet for the Battery Park Conservancy, according to reports. Albanese is completing the 253-unit Verdesian in Battery Park City and finished the Solaire in 2003.

Flatiron
Sky House
11 East 29th Street
The Clarett Group is developing a 54-story condo on the site of the parish house for the Church of the Transfiguration. The project is being designed by Fox & Fowle Architects and there will be three condos per floor starting on the sixth floor, the Times reported. Prices for the one- and two-bedroom apartments will range from about $870,000 to $2.2 million.

Harlem
106 West 123rd Street
The condominium had its offering plan approved in June. The brand new townhouse has four residential units broken into a simplex, two duplexes, and a triplex. Rosetree Development Company is the developer. The former carriage house next door at 104 West 123rd Street will also soon be available as condos. Klara Madlin Real Estate is marketing both properties.

Harlem
307 West 126th Street
An affiliate of Rafferty Holdings is planning to develop a condominium at the site. Warburg Realty Harlem has been appointed exclusive sales agent, and Leo Munoz will be responsible for marketing the property once the offering plan is approved.

Harlem
Senneca Terrace
324 East 112th Street
Units in the condo building will range from 611-square-foot one-bedrooms to 1,150-square-foot penthouses, as well as 1,148-square-foot townhomes. The developer is CGS Builders; the designer is Karl Fischer Architects. The Corcoran Group is marketing the property.

Jamaica
Site of the former Queens Family Courthouse
The New York City Economic Development Corporation selected The Dermot Company to acquire and develop the two-acre site. The proposed $130 million project consists of 380 residential units, 18,500 square feet of retail space and 25,000 square feet of space for community or cultural uses.

Long Island City
Queens Plaza
41-26 27th Street
The Developers Group will begin selling the 66 units in the new 10-story condominium this autumn. The units will range from 505 to 1,568 square feet. Residents are expected to start moving in during early 2006.

Lower Manhattan
200 Chambers Street
The 30-story, 257-unit condo, developed by Jack Resnick & Sons, is scheduled to open in autumn 2006. Units will range from 573-square-foot studios to 2,300-square-foot three-bedrooms, with prices from $500,000 to $3 million, according to the New York Sun. The development will include a seven-story sister building for a community center and an annex for a nearby public school. The total cost of the development is about $220 million.

Midtown West
The Mosaic
Tenth Avenue between 51st and 53rd Streets
The Dermot Company and its partner, Archstone Smith, closed a deal to build the two-tower, 700,000-square-foot project that will feature 627 rental units and six loft condominiums, plus street-level retail. The 24-story towers will be built by Bovis and designed by Fox & Fowle Architects. Construction is expected to be done by 2007.

Murray Hill
The Charleston
225 East 34th Street
LCOR and the California State Teachers’ Retirement System will develop a 21-story, 170,000-foot, 172-unit condominium. It will offer studio, one- and two-bedroom units and several three-bedroom penthouses. Construction is expected to begin in December 2005 and be completed in the spring of 2007. Marketing will be handled by Prudential Douglas Elliman’s Development Marketing Group.

Murray Hill
158 Madison Avenue
Buttonwood Real Estate, the new firm opened in May by Citi Habitats founder and former CEO Andrew Heiberger, announced its first major deal. In a joint venture with Thor Equities called Thorwood Real Estate, it will develop a 7,500-square-foot lot that already includes a five-story commercial building. The development plans include construction of 50 luxury condominiums as well as retail space.

Murray Hill
Park South Lofts
43-45 East 30th Street
Former factory being converted to 40 condo units by the American Development Group and Langsam Property Services. The units will include three duplexes and a five-floor penthouse, and will be ready for occupancy in September, the Times reported.

Upper East Side
985 Park Avenue
The Icon Group plans to build a 15-story condo building. The brownstone t the site will be razed to make way for a 16,000-square-foot liver building designed by Costas Kondylis. The building will have one triplex and six duplexes, all expected to sell for more than $2,000 a foot, the Post reported. The group is now interviewing sales agents.

Upper West Side
245 West 99th Street and 2628 Broadway
The Extell Development Corporation plans to erect two residential towers across the street from each other. One tower will be 31 stories tall and have 73 units; the other will be 37 stories tall and have 65 units. Most apartments are slated for two or three bedrooms. Cook + Fox Architects will design the building at 245 West 99th Street. Some local residents oppose the project because of its height, according to the New York Sun. The construction site was the scene of a building collapse last month that left five people injured.

Sales Update

The Bronx
Nelson Avenue
The Jackson Development Group is marketing 28 condo units in seven row houses in Highbridge near Yankee Stadium. Three-bedroom condos will go for $235,000 and two-bedrooms will sell for $195,000. The three-bedroom units are about 1,000 square feet. Construction is to be completed by fall, the Times reported.

Carroll Gardens
Court Street Lofts
505 Court Street
Metropolitan Housing Partners, in partnership with Apollo Real Estate, has launched sales at the 10-story condo. Prices for the 124 open-loft, one-, two- and three-bedroom units range from $475,000 to more than $1 million. Corcoran Group Marketing is the exclusive sales and marketing agent. Contact:www.courtstreetlofts.com.

Edgewater
Vela Townhomes
The Marketing Directors has sold more than 65 percent of the 29 three-story residences in the New Jersey riverfront community. The 3,600- to 5,200-square-foot homes featuring private elevators and multiple balconies with Hudson River views start at $1.95 million. Rosen Global Partners is the developer; Arquitectonica is the architect. Occupancy is scheduled for fall 2006.

Gramercy Park
50 Gramercy Park North
According to New York magazine, 19 of the 23 apartments in the building renovated by hotelier Ian Schrager have been sold since sales began in May. Some apartments in the former Gramercy Park Hotel are fetching up to $3,000 a square foot or $6 million for a 2,000-square-foot space. Ownership in the building includes keys to a private park as well as access to a building staff that will walk dogs and shop for groceries. Minimalist architect John Pawson designed the building.

Midtown
325 Fifth Avenue
More than two-thirds of the 250 units in the new 50-story luxury condo are now in contract. One- to four-bedroom units with 650 to 3,000 square feet have starting prices from about $850,000 to more than $5 million. Architect Stephen B. Jacobs designed the project. Richard Cantor of Cantor Pecorella Inc. is the exclusive sales agent for the property. Information: 212-532-5325.

Prospect Heights
The Washington
35 Underhill Avenue
Marketing firm Aguayo & Huebener went into contract on 24 of the 39 units in the condo in the first three months of sales. Construction is scheduled for completion in fall 2005.

Times Square
1600 Broadway on the Square
1600 Broadway
The site of the former Studebaker Building will become a new 26-story residential and retail tower. Sherwood Equities plans to build 137 luxury condos on top of two floors of retail, with the condos reportedly going for around $1,000 a square foot. The Marketing Directors is expected to open a sales office for the building after Labor Day, the Post reported.

Upper East Side
Trump Park Avenue
502 Park Avenue
The building is now 90 percent sold, with only a few full-floor penthouses still available. Among the remaining spaces on the market is the duplex penthouse located on the 31st and 32nd floors, available for $31.5 million.

Construction Update

Greenpoint
Ella 82
82 Guernsey Street
Construction is nearly complete on the nine-unit condominium; residents will begin moving in next month.

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