The Real Deal New York

New Residential Developments

October 26, 2007 04:20PM

Bensonhurst
Village Terrace
6507-6511 Bay Parkway
The Bobker Group, in partnership with Castle Development, has submitted an application for a seven-story mixed-use project. The Karl Fischer-designed building will have 24 condominium units and 15,000 square feet of retail space. Prices are expected to start around $499,000. Contact: www.bobkergroup.com.

Bushwick
999
999 Willoughby Avenue
The first of five new developments planned for the neighborhood — a six-story, 18-unit condominium — will offer units priced from $289,000 for a 690-square-foot one-bedroom to $500,000 for a 1,000-square-foot two-bedroom with a 500-square-foot terrace. Amenities include indoor parking and a gym. Sales will begin in November, the New York Post reported. The Corcoran Group is the sales agent.

Chelsea
The Caledonia
450 West 17th Street
The Related Companies’ new 26-story, 190-unit condominium will have its own entrance onto the future High Line park from the second floor, along with the requisite luxury amenities, including a large lobby with a waterfall and a library. Gary Handel is the architect; Clodagh designed the interiors. The sales office, which was expected to open in April at the nearby 111 Eighth Avenue, will be on the 15th floor, so buyers can get a sense of what views will be like in the Caledonia. Prices range from $595,000 for a studio to more than $4 million for a penthouse, the New York Times reported. Contact: www.thecaledonia.com.

East Village
One Ten Third
110 Third Avenue
Toll Brothers has begun excavation for the 21-story, 77-unit tower that will have one- to three-bedroom units priced from $850,000 to $2.2 million, the New York Times reported. The 16th-floor units will have terraces; other floors will have balconies. The roof will have both a common area and partly roofed private spaces ranging from 250 to 500 square feet, which will be for sale. Sales are to begin this summer, and the projected move-in date is spring 2007.

Jersey City
Waldo Lofts
159 Second Street
Sales are under way at the 82-unit conversion of a 12-story brick warehouse building. The units range from 700-square-foot studios to 2,400-square-foot duplex penthouses, the Post reported. Prices range from $390,000 to $1.5 million, not counting a handful of units being sold at below-market prices to artists who meet income qualifications. Contact: www.waldolofts.com.

Long Island City
48th Avenue and Fifth Street
Toll Brothers has begun demolition for a 118-unit condominium on the L-shaped plot, the Times reported. Studios to three-bedrooms will start at $350,000. Some units will have private backyards. Occupancy is slated for spring 2007.

Morningside Heights
1047 Amsterdam Avenue
A deal is close to build a 20-story, 300-unit rental development on the grounds of the Cathedral of St. John the Divine, the Times reported. The development, to be built by AvalonBay Communities, would be on the southeast corner of the grounds and is the first of two potential projects there. Construction of the $125 million building might begin this year.

Mott Haven
700 East 134th Street
Daniel Lebensohn and Art Goldman are converting the vacant 1899 apartment building into 21 loft rentals. Amenities include custom tilework, pine floors, and Midtown views. Rents start at $1,095 a month. The Haven Heights Group is marketing. Contact: 718-993-2353.

Prospect Heights
1520 Bedford Avenue
Developer Three Properties is converting the four-story brownstone into 11 condominiums. The studio to two-bedroom units range from 400 to 1,065 square feet and start at $185,000. All units released on opening day were sold within hours, according to the Developers Group, exclusive sales and marketing agent for the property. Occupancy is slated for summer 2006. Contact: 718-222-1545, www.thedevelopersgroup.com.

Tribeca
101 Warren Street
Sales began in March at the 228-unit luxury condominium. Prices range from $1.2 million for a 923-square-foot one-bedroom to $13 million for a 4,145-square-foot penthouse, the Post reported. The building will house a fifth-floor elevated atrium — a forest of 101 imported Austrian pine trees. Across the forest will be 85 market-rate, 44 middle-income, and 33 low-income rental units. The project will also have a 170,000-squarefoot retail component, which will include a Whole Foods. Contact: www.101warren.com.

Upper West Side
The Apple Bank Building Condominium
2112 Broadway
The 29-unit condominium conversion is expected to fetch $1,400 a square foot when it opens for sales in June, the Post reported. Units will range from 1,200-square-foot one-bedrooms to 3,800-square-foot three-bedrooms and will have 11- to 18-foot ceilings. Brown Harris Stevens is the sales agent. Contact: www.brownharrisstevens.com.

Upper West Side
Avery
Riverside Boulevard between 64th and 65th streets
The 32-story, 274-unit condominium overlooking Riverside Park will offer residents special memberships and access to the Lincoln Center for the Performing Arts’ patrons’ desk. Extell Development Company is the developer. One- to three-bedrooms are priced from $850,000 to over $3 million. Corcoran Group Marketing is the exclusive marketing and sales agent. Occupancy is expected in 2007. Contact: 212-769-1100, www.averyriverside.com.

Upper West Side
The Rushmore
Extell has launched the marketing campaign for the Costas Kondylis-designed condominium located one block south of its Avery development on Riverside Boulevard. The Rushmore will comprise twin towers atop a seven-story base. One- to five-bedrooms will range in price from $1 million to more than $6 million, according to CityRealty.com.

West Village
744 Greenwich Street
Prudential Douglas Elliman has opened sales for the five loft-style units. The building, designed by Shawn Basler of BMDesign Group, has three full-floor lofts, a garden triplex with outdoor space, and a penthouse duplex with terraces. All residences have three bedrooms and working fireplaces. Prices start from $3.625 million. Occupancy is expected in fall 2006. Contact: 212-744-7474.

Williamsburg
164 Kent
164 Kent Avenue
The FX Fowle-designed condominium will be the first of three high-rise towers on the waterfront built by a joint venture of Toll Brothers, L & M Equity, and RD Management. The building’s 180 units will range from studios to three-bedrooms, the Times reported. No information on the other two towers was available at press time.

Williamsburg
North8
Kent Avenue and North 8th Street
Toll Brothers will build a six-story condominium with 40 units, the Times reported. It will have unobstructed views of the Manhattan skyline. An additional six townhouses along North 8th Street will be part of the building, but will have separate entrances. Sales will begin in early summer, with a projected move-in date of January 2007.

Williamsburg
Roebling Square
North 8th Street
Sales have begun at the four-story, 36-unit condominium, which has five separate entrances and one or two residences per floor. Prices for the one- and two-bedrooms start in the mid-$500,000s. Prudential Douglas Elliman is the marketing and sales agent. Occupancy is expected this summer. Contact: 718-384-8008, or Helene Luchnick, 212-965-6008.

Williamsburg
N7
Design firm Lifeform is working on the nine-unit “eco-friendly” loft building. John Wachtel and Andrew Glassberg of Lucky Boy Development are the developers. Completion is slated for 2007.

Williamsburg
Roebling Residence
The building, designed by Lifeform, will comprise two bi-level villas. Amenities include a common roof deck. The project is scheduled for completion in 2007.

Construction Update

Carroll Gardens
Court Street Lofts
505 Court Street
The conversion of the 124-unit rental into a condominium is still pending, according to a spokesperson for developer Metropolitan Housing Partners. Sales began in July 2005, and 20 percent of the units have been sold. Units are priced from $485,000 to more than $1 million, the Post reported.

Downtown Brooklyn
306 Gold Street and 313 Gold Street
Developers Ron Hershco and Dean Palin, along with Brooklyn Borough President Marty Markowitz, broke ground in April on the $400 million, two-tower project. When completed in January 2008, 306 Gold Street will be a 400,000-square-foot tower topping out at 40 stories — making it Brooklyn’s tallest new construction building. Construction on 313 Gold Street — a 35-story, 250,000-square-foot tower with 214 condo units — is slated to begin in August 2006. Sales for 306 Gold Street are expected to begin in fall 2006. Prudential Douglas Elliman will handle sales and marketing for the project.

Madison Square Park North
Sundari Lofts & Tower
158 Madison Avenue
The project has been undergoing a redesign since December. It will now reportedly be 72 units — from the originally planned 50 — and the sales center, originally scheduled to open around this past February, won’t open for another six to 12 months, the Post reported. Contact: www.sundarinyc.com.

Midtown East
The Veneto
250 East 53rd Street
The Related Companies has hired designer Adam Tihany to design the interiors of the 34-story, 137-unit tower, the Daily News reported.

Upper West Side
10 West 70th Street
The New York City Landmarks Preservation Commission in March unanimously approved the construction of a nine-story building on property owned by Congregation Shearith Israel. The upper four floors, along with a setback penthouse, will be full-floor condos.

Financing

Murray Hill
The Charleston
225 East 34th Street
The Singer and Bassuk Organization closed a $159.4 million construction loan for the 191-unit, 251,600-square-foot residential condo.

Park Slope
255 1st Street
Meridian Capital Group arranged $13.9 million in financing for the construction of the 12-story, 33-unit condo. The 19 two-bedroom and 14 three-bedroom units will range in size from 950 to 1,550 square feet.

Sales Update

Boerum Hill
Boerum Heights
556 State Street
Sales are under way at the eight-story, 71-unit condominium. The building is divided into two wings connected by an exterior courtyard. Denali Construction is the developer. Prices for one- and two-bedrooms start at $525,000; penthouses are also available. Atlantic Realty Partners is the marketing and exclusive sales agent. Contact: 718-683-3106, www.boerumheights.com.

Bryant Park
485 Fifth Avenue
In the first eight days the sales office was open, 12 contracts went out in the 107-unit condo. Available units range from a 650-square-foot one-bedroom for $725,000 to a 2,440-square-foot three-bedroom penthouse for $4.25 million.

Downtown Brooklyn
Lookout Hill Condominium
199 State Street
Alchemy Properties’ 11-story, 46-unit condo has opened for sales. Studios to three-bedrooms range from $470,000 to $995,000 and from 670 to 1,650 square feet. Completion is scheduled for December 2006. Contact: www.lookouthillcondo.com, 212-732-0372.

Flatiron
655 Sixth Avenue
Three of the five soon-to-be-constructed rooftop residences have been sold. The remaining penthouse — asking $7.5 million — will have its own three-story domed turret as part of its living space. The last 2,490-square-foot rooftop townhouse is asking $3.275 million. Contact: 212-807-6565.

Fort Greene
383 Carlton Avenue
Almost all of the 27 units in the 11-story building have been sold. Carlton Adelphi is the developer; Meltzer/Mandl Architects designed the building. The Corcoran Group is the exclusive marketing and sales agent.

Midtown
Windsor Park
100 West 58th Street
The Chetrit Group’s conversion of the Helmsley Windsor hotel has sold 70 percent of its 103 units, the New York Sun reported.

Midtown East
ThreeTen
310 East 53rd Street
More than 70 percent of the 88 units have been sold, according to the Daily News. Contact: 212-765-5300, www.threetencondo.com.

Morningside Heights
Ariel condos
The sales office officially opened in March for the two-tower project consisting of Ariel West, a 74-unit building at 245 West 99th Street, and Ariel East, a 64-unit condo at 2628 Broadway, the Post reported. Prices run from $1.2 million to $6 million for the apartments. Contact: www.arielcondos.com.

Tribeca
1 York Street
The 40-unit building was 40 percent sold before construction began or sales officially got under way, the Post reported. The building was set to officially open for sales in early April. Contact: www.1york.com.

Upper East Side
Barbizon/63
140 East 63rd Street
Contracts have been signed for one-third of the 65 units, the Sun reported. Prices range from $1 million to $12 million, according to the Post. Contact: www.barbizon63. com.

Upper West Side
Time Warner Center
10 Columbus Circle
The Related Companies sold the last remaining apartment in the final week of March — a half-floor penthouse on the 77th floor of the north building. It went for $16.95 million, bringing the total sales in the center to more than $1.1 billion, the Times reported.

Upper West Side
10 West End Avenue
Sales are scheduled to start this month for the 33-story, 173-unit condo project developed by Apollo Real Estate Advisors and Cambridge Development and Construction. Units ranging from 750 to 2,600 square feet will be priced from $750,000 to $4.5 million. The Sunshine Group is the exclusive sales and marketing agent. Completion is slated for spring 2007. Contact: 212-710-1010, www.10wea.com.

West Village
147 Waverly Place
Since the 20-unit conversion opened for sales in March, six units have gone into contract, the Post reported. Units start at 1,450 square feet and $1.75 million. The $10 million, 4,000-square-foot penthouse comes with 1,000 square feet of outdoor space. Stribling & Associates is the sales agent. Contact: www.147waverlyplace.com.

Development in Brief

Manhattan (from north to south)

1295 Madison Avenue
Industry leaders expect that the Credit Suisse First Boston-owned Hotel Wales will be converted into residential condominiums, the Sun reported.

330 East 57th Street
Developer Cesidio del Rio hired Arquitectonica to design the 16-story condo tower, the Daily News reported.

325 East 53rd Street
The three units in the building are priced from $4.5 to $5 million, according to the Daily News.

214 East 52nd Street
Brothers Rony and Rabah Abramov plan to furnish the condos they’re creating in the six-story former commercial building, the Daily News reported.

303 East 51st Street
Developer Jim Kennelly plans a condo tower on the site, the Daily News reported.

343 East 50th Street
Perry Finkelman is converting the former co-op into luxury condos, the Daily News reported.

20-22 East 23rd Street
A developer from Rockland County will demolish the two buildings and construct a 40-story residential tower, according to the Sun.

137-145 West 22nd Street
Local developer Ascend Group plans to develop a 77,426-square-foot residential condominium on the site.

Between 15th and 16th streets and Ninth and 10th avenues
A residential tower may go up on top of the Chelsea Market. The market building’s owner, Jamestown, says it’s exploring the possibility of building a residential tower of up to 300,000 square feet, the Post reported.

145-147 East 14th Street
The Con Edison-owned parking lot is expected to be sold to a residential developer, the Sun reported.

137 East 13th Street
Emmut Properties plans to build a six-story residential condominium, according to the Sun.

531-533 East 12th Street
The site can support 22,000 square feet of development.

38-40 Stuyvesant Street
Time Equities plans to convert the six-story, 18,900-square-foot rental building into condos.

443 Greenwich Street
Shahab Karmely plans to convert the office building into luxury condominiums. A hotel is also a possibility, according to Real Estate Weekly.

New Developments from Previous Month

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