Brighton Beach
Sochi
The all-glass structure, named for a resort on the Black Sea, is set to open in 2008. It will be anywhere from 22 to 28 stories, the New York Post reported. Every unit will have floor-to-ceiling windows with unobstructed views of the ocean. Amenities include a 10,000-square-foot fitness center with tennis courts and a pool. One-bedrooms are projected to start at $500,000.
Chelsea
100 West 18th Street
GD Development Group is developing a 10-story, 41-unit luxury condominium with 30,000 square feet of retail space. Meridian Capital Group arranged a $79.5 million loan for the construction of the $100 million project, which is expected to begin this summer and last 14 to 16 months.
East Williamsburg
Aria
134-136 Powers Street
The 20-unit condominium will offer 15 different layouts. These include two-bedroom duplexes, one-bedrooms with terraces, and European-style flats, one of which has a private garden. Units will range in size from 600 to 1,400 square feet, with most ceilings reaching 17 feet. Elliot Tamir is the developer; Andres Escobar & Associates designed the apartment interiors and environmental art consultant Novo Arts is directing the lobby project. The building is slated for completion in early 2007. The Developers Group is the exclusive sales and marketing agent.
East Williamsburg
The Devoe
233 Devoe Street
The five-story, seven-unit green condominium is slated to open in spring 2007. When completed, the 5,500-square-foot building will have a green roof (a planted garden that acts as a natural way to cool the building), a water-retention system, and geothermal heating and cooling, the Post reported. Gita Nandan is the architect.
Gravesend
Village Terrace
71 Village Road North
Sales have started at the seven-story, 42-unit condominium designed by architect Karl Fischer and interior designer Andres Escobar. One- to three-bedrooms range in price from approximately $369,000 for 776-square-foot one-bedrooms to $696,500 for a 2,222-square-foot two-bedroom. Five penthouse townhouses will be released for sale at a later date, according to the Post. Contact: www.villageterracecondos.com.
Harlem
308 West 116th Street
The eight-story, 15-unit condominium will have an all-white façde made from a self-cleaning concrete that has an additive of titanium dioxide, the Post reported. When UV rays hit the building, the concrete cleans itself and the air around it. Grzywinski Pons designed the building, where prices are expected to average about $1,000 a square foot.
Harlem
The Stamford
414 East 120th Street
Leasing began in July at the six-story, 12-unit rental. Rents start at $1,900 per month for the 677-square-foot one-bedrooms. CGS Developers is the developer; Karl Fischer is the architect for the project. The Corcoran Group is the exclusive leasing and marketing agent. Contact: www.thestamfordnyc.com.
Hudson Yards
Hudson Mews
Between West 36th and West 38th streets
Two new apartment buildings will add 800 rental units to the far West Side. The Port Authority has approved a transaction with the Dermot Company and Equity Residential to develop the two buildings, which will have 800 units total. FXFowle Architects is the project architect and Bovis Lend Lease is the construction manager. Construction is expected to start in the middle of next year. The estimated cost is more than $450 million.
Murray Hill
45 Park Avenue
The sales office has opened for SJP Residential’s 22-story, 105-unit luxury condominium, which is scheduled for occupancy in fall 2007. The project is the first new condominium on Park Avenue in 10 years, according to the developer. The property is being marketed by The Marketing Directors. Contact: www.45parkave.com.
Prospect Lefferts Gardens
1 Sullivan Place
Plans for the site, which sits directly across the street from the Brooklyn Botanic Gardens, include an 11-story, 26-unit condominium with garden and park views made up of 14 one-bedroom and 12 two-bedroom units. The property contains 20,400 buildable square feet.
Red Hook
Dwight Gardens
18-22 Dikeman Street
Sales have begun at the three-story, nine-unit condominium, which offers two- and three-bedrooms priced from $700,000 to $825,000, the Post reported. The units range in size from 1,200 to 1,320 square feet; some have terraces or rooftop access. Private parking spaces are available for $25,000 each. The project is just down the road from the Ikea set to open in 2007 and about a quarter-mile from the new Fairway. Occupancy is expected in late summer. Frank P. Manzione Real Estate is the exclusive sales agent. Contact: www.fpmre.com.
Rockaway Park
Belle Shores
101st Street and Shorefront Parkway
Frameworks Group’s three-story, 78-unit condominium sold 20 percent of its units in two weeks, according to the Post. The two- and three-bedrooms range in size from 972 to 1,700 square feet and are priced from $439,000 to $989,900. Frameworks also plans to build a seven-story condominium along the beach at 94th Street named The Landmark. Three-bedroom penthouses will hit the million-dollar mark. Contact: www.frameworksgroup.com.
Soho
Mercer Greene
109 Mercer Street and 92 Greene Street
The 15-unit condominium, housed on a former parking garage, opened for sales in late April. Two- and three-bedrooms from 1,550 to 2,600 square feet are priced from $2.3 to $7 million. Five of its units were under contract as of mid-June, according to the Post. The Corcoran Group is marketing the property. Contact: www.mercergreene.com.
South Bronx
The Orion
3044 Third Avenue
Work is under way on the first elevator-equipped condominium building in the South Bronx, the New York Daily News reported. The nine-story, 60-unit project is expected to open for sales in the fall. Most of the units will be for low- or moderate-income buyers; 14 units will be market-rate, with three-bedrooms priced at $325,000. The partners developing the project — Melrose Associates, Procida Realty & Construction, L & M Equity and community group Nos Quedamos — are also working on a second building. The Aurora will have 90 units, of which 21 will be market-rate.
Upper West Side
120 West 72nd Street
Construction is expected to start this summer on the 16-story luxury condominium designed by BKSK Architects. Developer Anbau Enterprises said the 60,000-square-foot building, which will open for occupancy in late 2007, will have 22 units, including four-bedrooms, as well as 4,000 square feet of ground-floor commercial space. The project cost is $52 million, GlobeSt.com reported.
Construction Update
Downtown Brooklyn
Lookout Hill Condominiums
199 State Street
Alchemy Properties topped out the 46-unit condominium in July. Studios to three-bedrooms are priced from $470,000 to $995,000 and range in size from 677 to 1,653 square feet. Contact: www.lookouthillcondo.com.
Greenwood Heights
182 15th Street
Developer Isaac Katan wants to build a luxury condominium tower up to 131 feet at the site, the Daily News reported. Some residents say the project is much taller than new zoning allows. The developer argues that most of the foundation had been built when the zoning took effect last November, and construction should be able to proceed. The city’s Board of Standards and Appeals was expected to issue a decision in late July.
Madison Square Park North
Sundari Lofts & Tower
158 Madison Avenue
The condominium project has been cancelled. In June, developer Buttonwood Real Estate put the site for its proposed project on the market. Buttonwood says it may still build the Sundari somewhere else in Manhattan.
Red Hook
160 Imlay Street
A Brooklyn Supreme Court justice ruled in June that developer Bruce Batkin’s plans to convert the deserted Red Hook warehouse into luxury condos must go back before the city’s Board of Standards and Appeals, the Daily News reported. The board had approved the project in December 2003. The six-story warehouse stands next to the new luxury cruise terminal in Red Hook.
Tribeca
200 Chambers Street
Jack Resnick & Sons topped out the 30-story, 258-unit condominium early last month. Since sales began in July 2005, 200 of the units have been sold. Contact: www.200chambersstreet.com.
Upper East Side
170 East End Avenue
The 20-story condominium topped out early last month. Contact: www.170eea.com.
Williamsburg
164 Kent Avenue
Mayor Bloomberg broke ground at the end of June for the first residential development spurred by last year’s rezoning of the Greenpoint-Williamsburg waterfront. A market-rate complex called Northside Piers and a building called Palmer’s Dock will make up the first phase of the project. Both parts of the first phase will create 300 residential units, 113 of which are expected to be affordable to residents earning as low as $21,300 annually, and up to $56,700 for a family of four.
Financing
Harlem
2279 and 2283 Third Avenue
Commerce Bank recently placed a $16.13 million loan to 2279-2283 Third Avenue Associates for the construction of a mixed-use, ground-up development. Upon completion, the complex will comprise two seven-story condominiums with a total of 31 one-, two- and three-bedroom units. The ground floors of both buildings will have a combined 25,000 square feet of commercial and community space.
Lower Manhattan
The Crest Lofts
67 Wall Street
The Singer & Bassuk Organization placed a $100 million construction loan on the 325,000-square-foot mixed-use conversion. Owners Nathan Berman and Ronny Bruckner will develop 211 residential rental units on the lower 16 floors of the 25-story building. Completion of the first phase is expected early in 2007.
Sales Update
Harlem
The Walden
69 East 130th Street
All but two of the project’s 25 units had been sold as of late June, according to the Post. The remaining units are penthouses: a 1,389-square-foot three-bedroom with a 700-square-foot terrace listed for $795,000 and a 1,114-square-foot two-bedroom with a 900-square-foot private roof deck asking $690,000. Prudential Douglas Elliman is marketing the property. Contact: www.elliman.com.
Rockaway Park
Ocean Grande
Beach 117th Street and the Rockaway Boardwalk
After a year of sales, more than 80 percent of the eight-story condominium’s 92 units have been sold, according to the New York Times. Prices for remaining units range from $420,000 for a two-bedroom facing Jamaica Bay and Manhattan to $1.035 million for a two-bedroom penthouse. The first buyers are expected to move in in August. Contact: www.theoceangrande.com.
Roosevelt Island
The Octagon
888 Main Street
The rental’s 500 units were 50 percent leased as of mid-June, according to the Post. Contact: www.octagonnyc.com.
Soho
139 Wooster Street
The Marketing Directors was named exclusive sales and marketing agent from the 16-unit condominium. Prices range from $1.995 to $4.995 million, with occupancy slated for January 2007. Contact: www.139wooster.com.
Tribeca
101 Warren Street
The condominium’s 228 units were more than 40 percent sold as of mid-June, within 60 days of the start of sales. The Sunshine Group is the exclusive marketing and sales agent. Contact: www.101warren.com.
Upper East Side
985 Park Avenue
The topping-off ceremony was held in June for the 15-story, seven-unit condominium. The project was 45 percent sold after five weeks on the market, with sales averaging $2,300 a square foot, according to the New York Sun.
West Village
147 Waverly Place
More than 85 percent of the condominium’s 20 units had sold as of early last month, according to Stribling Marketing Associates, the exclusive marketing and sales agent. Sales opened in March. Contact: www.147waverlyplace.com.
West Village
744 Greenwich Street
The five-unit condominium sold out in June, within six months of the start of sales, according to marketing agent Prudential Douglas Elliman. The average sales price was $1,600 per square foot.
Development in Brief
Manhattan (from north to south)
813 Park Avenue
DCD America is converting the 12-story residential building into three luxury condominium residences, the New York Sun reported.
737 Park Avenue
The 20-story, 116-unit rental is expected to be sold later in the year and converted into a condominium, according to the Sun.
37 East 64th Street
The Hotel Plaza Athenee is expected to be sold and converted into a condominium, the Sun reported.
31, 33, 35, and 37 West 56th Street
A developer wants to demolish four Beaux-Arts townhouses to clear space for a 16-story high-rise with street-level offices and 47 apartments, the New York Times reported. Area residents are fighting the demolition.
99 Church Street
The 11-story, 336,000-square-foot Class B office building is expected to be sold and converted into residential condominiums, according to the Sun.
111 Fulton Street
Lev Leviev bought the commercial building and plans to convert it into condominiums, the Times reported. The project will involve a 10-story addition and a total of 289 units, according to the Sun.
133 Greenwich Street
A 30-story condominium tower with 100 units is planned at the site, also known as 25 Thames Street, according to the Sun.