New Residential Developments

Boerum Hill
State Renaissance Court
Schermerhorn, Hoyt and State Streets
Developers last month arranged financing for a pair of connected buildings, one of which has eight floors, the other seven. The mixed-income affordable apartment rental project is being developed by the IBEC Building Corporation and the Strategic Development Group under the auspices of the city’s Department of Housing Preservation and Development. A later phase of the project will include 14 two-family townhouses on the site.

Central Park South
Windsor Park by Gwathmey Siegel
58th Street and Avenue of the Americas
The Former Helmsley Windsor Hotel is being converted to 103 condo apartments. Sales began the day before Thanksgiving and there were contracts drawn up for 42 units by mid-December, around half of which are signed. The building includes two penthouses, priced at $13 and $16.25 million, and seven duplexes priced from $3.3 million to $3.6 million. The developers are Yitzchak Tessler and Meyer Chetrit. Contact: The Sunshine Group, 212-750-0500.

Dumbo
Jehovah’s Witness Complex
Construction is scheduled to begin this year on a massive complex for the Jehovah’s Witnesses following approval last month by the City Council zoning subcommittee. The three-acre waterfront industrial site will include four towers, the tallest 20 stories high, a large, glassed-in welcome center, a dining hall, a church and a 1,110-car underground garage. It will house around 1,600 Witnesses who work in the group’s Brooklyn Heights headquarters, according to the New York Post. The full City Council was expected to approve the plan at the end of December.

Harlem
The Kalahari
116th Street between Fifth and Lenox Avenues
The 250-unit condominium will have its apartments sold at market rates, with 30 percent reserved for moderate-income buyers and 20 percent reserved for low-income buyers. Construction is expected to begin in June 2005 and be completed by mid-2007. The developers are Carlton Brown of Full Spectrum Building and Development and Ron Moelis of L & M Equity Participants.

Harlem
Morningside Court
West 117th Street between Morningside and Manhattan Avenues
The 49-unit condominium was completed in November in the last phase of renovating a block of vacant buildings. The one-, two-,three- and four-bedroom units were sold for an average price of $145,844. More than 95 percent were available to buyers earning less than $75,000 a year. The developer was Morningside Builders. The architect was Roger C. Lewis. The Harlem Community Development Corporation served as the marketing agent.

Hudson Heights
The Bennett
736 West 187th Street
The seven-story building, being marketed as the first ground-up condo in the Hudson Heights area, is currently under construction and is expected to be ready for occupancy in summer 2005. Fifty-five units are currently on the market, with apartments ranging from 672 to 1,395 square feet. One, two- and three-bedroom condominiums are asking $295,000 to $653,000. The building offers 30 indoor and outdoor parking spaces. Contact: The Developers Group, 718-222-1545.

Lower East Side
The Garfield Building
142 Henry Street
The seven apartments in this former manufacturing building built in 1912 will range from 1,550 to 1,900 square feet. Prices range from $850,000 to $1.675 million. The building, located just below East Broadway, has common roof access and 360 degree views on several top floors. The architects, Ronald Castellano and Christopher Haynes, previously worked with architects including Richard Meier, and are also the owners of the building. Contact: Frank Torre, Corcoran, 212-941-2544.

Lower Manhattan
Block bounded by West, Chambers and Warren Streets
A 400-unit tower four blocks north of Ground Zero is being planned by a Resnick family partnership. The city’s Economic Development Corp. signed off on the sale of the land in December allowing the project to go forward. The 383,000-square-foot building will include either market-rate rentals or condos, and construction is expected to begin this month. The project will also include a community facility and space to be leased to P.S. 234.

Lower Manhattan
133-135 Greenwich Street
A 30-story luxury condo is planned by Thames Greenwich LLC, which purchased the site for $24 million. The seller, YL Real Estate Developers, will retain a small interest in the project.

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Upper East Side
219 East 67th Street
Five loft-style apartments at the former 36,000-square-foot Christie’s East auction house between Second and Third Avenues recently went on the market. Full-floor 4,665 square foot apartments range from $5.4 million to $6.75 million and the 5,886-square-foot penthouse duplex is selling for $10.4 million. Apartments include a private underground car park accessed by a remote-controlled elevator. The units will be delivered in January, the New York Observer reported. The developer is Shahab Karmely and RFR Realty. Contact: Carrie Chiang and Ralph Krueger, Corcoran, 212-836-1088.

Construction update

Lower East Side
Avalon Chrystie Place
Bowery and Houston Street
A $150 million building, the first of four planned on East Houston Street, was topped off by Mayor Bloomberg in November. The developer, AvalonBay Communities, expects construction to be completed by December 2005. The building will occupy the south side of East Houston Street between Chrystie Street and the Bowery. It includes 361 mixed-income rental apartments, a 42,000-square-foot recreational and community facility and two floors of retail space. The project was designed by Arquitectonica, and SLCE. The four buildings will have a total of 712 rental units.

Sales update

Chelsea
Vesta 24
231 Tenth Avenue
The 14-story, 22-unit condo sold out in October in a day and a half, according to the Times. Two and three-bedroom units range from 1,420 to 2,500 square feet, and from $1.16 to $3 million, according to Corcoran.com. Contact: Jim Brawders and Cay Trigg Blau, Corcoran, 212-343-5420.

Downtown Brooklyn
Boulevard East
53 Boerum Place
More than 80 percent of the 99 units were sold at the newly constructed condominium by mid-December; 14 units are still available. Studio, one- and two-bedroom apartments are asking $250,000 to $700,000. SDS/Procida is the developer; the Stephen B. Jacobs Group designed the building. Contact: Cheryl Nielsen-Saaf, Corcoran Group Brooklyn,
718-522-4919.

Forest Hills
The Windsor
108-24 71st Street
More than 45 percent of the apartments in this 21-story, 95-unit condominium sold in their first month on the market, according to The Marketing Directors. Apartments range from 615 to 1,752 square feet. The project was developed by Cord Meyer Development and designed by Ismael Levya Architects. Contact: The Marketing Directors, 212-826-8822.

Lower Manhattan
The Crest
63 Wall Street
More than 300 apartments were rented in the 37-story, 476-unit building since it went on the market six months ago, according to developer Metro Loft Management. Studio, one- and two-bedroom apartments feature 425 to 2,000 square feet of living space. The building once served as the corporate headquarters of banking giant Brown Brothers Harriman & Co. Contact: Citi Habitats Marketing Group, or visit crestnyc.com

New Developments From Previous Months

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