New Residential Developments

Oct.October 29, 2007 11:13 AM

Chelsea
Loft 25
420 West 25th Street
Sales have begun at RAL Companies & Affiliates’ 79-unit condominium conversion. Ceiling heights go up to 14 feet in the former industrial loft, where units range from studios to a 2,340-square-foot duplex penthouse with a 1,500-square-foot terrace. The average studio is 900 square feet and is priced below $1 million. Creative Design Associates and Traboscia Roiatti Studio designed the project; Stribling Marketing Associates is handling sales. Occupancy is anticipated in fall 2007. Contact: www.loft25.com.

Chelsea
520 West Chelsea
520 West 19th Street
Sales began in October at the 11-story, 26-unit condominium. The project, developed by Bishopscourt Realty, was designed by Selldorf Architects. The two- to five-bedroom units range in size from 1,460 to 4,232 square feet and are priced from $1.8 to more than $9 million. Core Group Marketing is handling sales. Contact: www.520westchelsea.com.

Clinton Hill
302 Washington Avenue
The five-story townhouse has been converted into four apartments, while a back carriage house will become a large fifth unit, the New York Post reported. Prices start at $685,000 for a 900-square-foot two-bedroom. The carriage house, a 2,300-square-foot triplex, is selling for $1.75 million. Contact: www.warburgrealty.com.

East Williamsburg
37 North Henry Street
The building offers eight units priced from $259,000 for a 450-square-foot studio to $449,000 for the 650-square-foot top-floor apartments, which have private roof decks with city views. Some of the other units have terraces and the rear first-floor apartment has a private garden. Staten Island-based Massimo Partners is the developer; the exclusive sales agent is aptsandlofts.com. Contact: www.37northhenry.com.

Greenpoint
267-269 Kingsland Avenue
TreeTop Development and Fields Development Group have started construction on the six-story, 16-unit condominium. The building, designed by architect Mark Gould, will have eight one-bedrooms and eight two-bedroom duplexes. Sales are expected to begin in March 2007. The Developers Group is the exclusive sales and marketing agent.

Harlem
Park North Condominium
157 West 111th Street
Ten condominium units are now available for sale in the newly
renovated 10-story building. Developer Zone Two LLC restored the property, originally built in the 1890s, into two- and three-bedrooms priced from $738,500 to $1.452 million. Occupancy is expected by the
end of the year. Warburg Marketing Group is the exclusive sales agent.
Contact: www.warburgrealty.com.

Harlem
Kalahari
40 West 116th Street
Full Spectrum NY, Goldman Sachs Urban Investment Group and L & M Equity Participants last month unveiled the 12-story, 129-unit green condominium, which comprises two buildings connected by a garden. One-bedrooms will be priced from the mid-$400,000s; two-bedrooms will start in the low $600,000s. The unit mix will also include three-bedrooms and duplex units. Completion is set for late 2007. The Marketing Directors Inc. is handling sales and marketing. Contact: 212-348-0090.

Harlem
245 West 115th Street
Sales are under way at Cardinal Investments’ five-story, 20-unit condominium. The 10 studios and 10 one-bedrooms have oak floors, Kohler fixtures and kitchens with granite counters. The building’s brick facade has been preserved, and the entranceway and hallways have been updated with new floors and oak staircases and banisters. Prices start at $229,000. The Corcoran Group is the sales agent. Contact: www.245w115.com.

Harlem
Rhapsody on Fifth Avenue
2056 Fifth Avenue
Developer AFC Realty Capital and BKSK Architects converted the century-old Beaux Arts church into a seven-story, 22-unit condominium. The exterior features a carved limestone façde; the lobby has a 17-foot vaulted ceiling. Studios to two-bedrooms range in size from 518 to 1,352 square feet and are priced from $405,000 to $1.55 million. Occupancy is expected in April 2007. The Marketing Directors Inc. is the marketing and exclusive sales agent. Contact: www.rhapsodyonfifth.com.

Long Island City
Fusion
42-51 Hunter Street
Roe Development Corp. is building a seven-story, 50,000-square-foot condominium designed by Manhattan-based Israel Peles Architects. The developer will try to rent the project’s ground-floor retail space to gallery and arts-related tenants. Prices for the 24 two-bedroom residential units, which range in size from 1,210 to 1,300 square feet, start at $849,000. Sales began in mid-November; occupancy is scheduled for spring 2007. The Roe Corporation is the exclusive sales agent. Contact: www.fusionlic.com.

Midtown
Residences at the Jumeirah Essex House
160 Central Park South
In addition to its $70 million hotel renovation, the Jumeirah Essex House is offering 35 condominium units. The one- to three-bedrooms range in size from 700 to 3,500 square feet and are priced from $1 to $9.5 million. Residents were expected to begin moving in in October and will have access to the hotel’s services. Colgate Sales LLC is the exclusive marketing and sales agent. Contact: www.essexhouseresidences.com.

Midtown East
East 57th Street and
Second Avenue
The Education Construction Fund has chosen World-Wide Group to develop a $500 million mixed-use project at the site, GlobeSt.com reported. The project will redevelop two New York City public schools and create a 320-unit residential condominium and 170,000 square feet of retail space. The project’s second phase will see the development of the residential units, of which 20 percent will be affordable. Skidmore, Owings & Merrill will design the residential component and retail space. Completion is projected for 2011.

Midtown West
600 West 42nd Street
Developer Larry Silverstein plans to build two 57-story towers with a common base at the site, the Post reported. The $917.6 million project would create 1,157 residential units, 18,277 feet of commercial space and a 194-car underground garage.

Prospect Lefferts Gardens
Lefferts South
2233 Caton Avenue
Sales are under way at the new six-story, 15-unit condominium just southeast of Prospect Park in Brooklyn. The two-bedroom units will range in size from 831 to 977 square feet, with prices starting at $439,000. All units will have two exposures and at least one balcony. The building will offer a roof deck and parking. Occupancy is slated for early 2007. The Developers Group is exclusive sales and marketing agent for the project. Contact: www.thedevelopersgroup.com.

Tribeca
Zinc Building
475 Greenwich Street
Sales have begun at the seven-story, 21-unit loft condominium developed by Douglaston Development and Montagu Square Development. Greenberg Farrow Architects designed the building, which will also house 5,000 square feet of retail space. One- to three-bedroom units and three duplex penthouses will range from 880 to 2,720 square feet in size, with prices running from $955,000 to $4 million. Occupancy is scheduled for winter 2007. The Corcoran Sunshine Marketing Group is the exclusive marketing and sales agent. Contact: www.zincbuilding.com.

Upper West Side
595 West End Avenue
Sales have opened for the 32 condominium units in the 16-story prewar conversion. Samson Management has renovated the 60,000-square-foot building, which was built in 1923, into one-, two-, three- and five-bedrooms ranging in size from 700 to 3,600 square feet. Units are priced from $728,000 to $4.5 million. Halstead Property is handling sales and marketing. Contact: www.595wea.com.

Williamsburg
188 South 3rd Street and 326 South 1st Street
TreeTop Development has begun renovations on two rentals that will begin leasing 71 new units in early 2007. The six-story building at 188 South 3rd Street will have 41 two- and three-bedroom units, with rents starting at $1,700 for the two-bedrooms and at $2,300 for the three-bedrooms. The six-story building at 326 South 1st Street will have 30 two-bedrooms with rents starting at $1,700, as well as 1,650 square feet of ground-floor retail space. Contact: www.treetopdev.com.

Williamsburg
215-223 North 11th Street and 6 Roebling Street
Sales are under way, and eight of the five-story project’s 24 condominium units had sold by early last month. The connected buildings house one- to three-bedrooms ranging in size from 650 to 1,400 square feet, with prices starting at $540,000. Penthouse duplexes have private roof terraces with views of the Manhattan skyline. The Developers Group is the exclusive sales and marketing agent. Contact: www.thedevelopersgroup.com.

Construction Update

Flatiron
The Oculus Condominium
50 West 15th Street
Alchemy Properties has broken ground for the 47-unit condominium designed by FXFowle Architects. The building will have a terra-cotta facade and contain studios to three-bedrooms ranging in size from 624 to 2,442 square feet. Prices run from $680,000 to $2.77 million. Sales are under way, and 16 units had sold by mid-October, the New York Sun reported. Completion is scheduled for 2007. Contact: www.oculuscondo.com.

Lower Manhattan
233 Broadway
The Witkoff Group may cancel plans to convert the 29th through 57th floors of the landmark Woolworth Building into residential condominiums on account of the strength of Downtown’s office leasing market. The decision was expected by early December, according to Crain’s.

Soho
Trump Soho Hotel Condominium
246 Spring Street
The city was expected last month to approve construction permits for Donald Trump’s 45-story, 411-unit condo-hotel tower, the New York Daily News reported. The Buildings Department was considering a restriction on buyers that would allow them to live in the building no more than 100 to 150 days a year.

Union Square
8 Union Square South
The Claremont Group in late October topped out the 20-unit condominium, which is scheduled for occupancy in July 2007. Prices run from $1.1 million for an 866-square-foot one-bedroom to $8.9 million for a 3,100-square-foot duplex penthouse. Shvo Marketing is the exclusive marketing and sales agent. Contact: www.8uss.com.

Financing

East Williamsburg
924-932 Metropolitan Avenue
Chicago-based Wrightwood Capital provided $7.3 million in construction financing for the five-story, 32-unit rental building. Rush Brook Partners LLC will demolish the current 25,000-square-foot warehouse at the site to make way for a building with one- and two-bedroom units, a fitness center and 18 parking spaces.

Lower Manhattan
William Beaver House
15 William Street
Fremont Investment & Loan closed $247 million in financing for the Sapir Organization and SDS Investments for the construction of the 319-unit condominium designed by Andr Balazs. Contact: www.williambeaver.com.

Sales Update

Battery Park City
Riverhouse
One Rockefeller Park
The 31-story, 264-unit condominium had sold 50 units as of early last month, within three months of sales, the Post reported. The Sunshine Group is the exclusive sales and marketing agent. Contact: www.oneriverterrace.com.

Battery Park City
The Verdesian
211 North End Avenue
All 253 units in the Albanese Organization’s green rental were leased by late October, six months after it opened for occupancy. Contact: www.verdesian.com.

Downtown Brooklyn
The Smith
75 Smith Street
The 50-unit condominium was more than 80 percent sold as of mid-October. The one- to three-bedrooms are priced from $550,000 to $1.295 million. Occupancy is expected in January 2007. Corcoran Group Marketing is the exclusive marketing and sales agent. Contact: www.75smith.com.

East Flatbush
The Bay Front Estates at Mill Basin
The six-acre project on the waterfront in southeast Brooklyn marked its grand opening last month. Sales are under way for the 34 fully detached single-family homes, which have four to five bedrooms and span 4,300 to 4,700 square feet. The lot sizes range from 5,000 to 12,000 square feet, and each home has a boat slip in the community’s marina. Coldwell Banker Mid Plaza Real Estate is handling sales. Contact: www.millbasinhomes.com.

East Village
One Avenue B
Eight of the condominium’s 24 units had gone into contract by early last month, within three weeks of sales, the Post reported. A 426-square-foot studio is priced at $525,000, or $1,232 per square foot. Citi Habitats Marketing Group is the exclusive marketing and sales agent for the building. Contact: www.oneavenueb.com.

Greenwich Village
184 Thompson Street
The eight-story, 140-unit condominium was 20 percent sold as of mid-October, after three weeks of sales. The building has 95 studios, 42 one-bedrooms and three two-bedrooms ranging from 400 to 1,800 square feet in size. Prices start at $450,000. The Developers Group is the exclusive sales and marketing agent. Contact: www.184thompson.com.

Lower Manhattan
37 Wall Street
The rental office opened last month for Skyline Developers’ 25-story, 373-unit rental. Citi Habitats Marketing Group is the exclusive marketing and leasing agent. Contact: www.37wall.com.

Midtown West
The Atelier
635 West 42nd Street
More than 50 percent of the 46-story condominium’s 478 units had sold by the end of October. The building, designed by Costas Kondylis Architects and developed by the Moinian Group, offers studios to two-bedrooms ranging in price from $630,000 to $1.5 million. Occupancy is slated for early 2007. The Marketing Directors Inc. is the exclusive marketing and sales agent. Contact: www.ateliercondos.com.

Tribeca
101 Warren Street
The condominium’s 228 units were nearly 60 percent sold as of last month, the Post reported. Sales began in March. The Sunshine Group is the exclusive marketing and sales agent. Contact: www.101warren.com.

Upper West Side
Element
555 West 59th Street
Sales are under way at the 35-story, 193-unit condominium being developed by Brack Capital Real Estate, Coalco International Ltd. and Continental Ventures Realty. Amenities will include 12,000 square feet of landscaped outdoor space and a 90-foot lap pool. One- to four-bedrooms with curved floor-to-ceiling window walls are priced from $850,000 to $6.5 million and will be ready for occupancy in 2007. Corcoran Group Marketing is the exclusive marketing and sales agent. Contact: www.elementcondominium.com.

Development in Brief

Manhattan (north to south)

West 77th Street and Amsterdam Avenue
The Landmarks Preservation Commission decided last month not to extend landmark status to the former Dakota Stable, the New York Times reported. The Related Companies has retained the architect Robert A. M. Stern to design a 14-story condominium on the site.

170 Central Park West
The New York Historical Society wants to start a $20 million renovation of its landmark building that would include allowing a developer to build a 23-story glass apartment tower behind the society’s museum and library. The society has approached the Landmarks Preservation Commission, the Times reported.

459 West 18th Street
Della Valle + Bernheimer LLP is the architect and developer of the ground-up luxury condominium at the site.

401 Broadway
The owner of the 29-story office tower is seeking city permission to convert it into 90 condominium units, the Tribeca Tribune reported.

95 Chambers Street
Plans are under way to demolish the emporium at the site and replace it with a 63,000-square-foot condominium building, the Tribune reported.

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