Chelsea
The Modern
343 West 16th Street
Ventura Land Corporation is developing the six-story, eight-unit luxury rental project. The green building will have one- and two-bedroom and penthouse apartments with terraces and private outdoor space. Rents will range from $4,000 to $12,500 per month, and leasing will begin this summer. JC DeNiro & Associates is the exclusive leasing and marketing agent. Contact: www.themodernny.com.
Clinton Hill
FultonOnClinton
936 Fulton Street
Developer Ore International’s 11-unit conversion of a prewar cathedral is expected to open for sales this month. One- and two-bedrooms will range in size from 635 to 1,100 square feet, with prices from the mid-$300,000s to the low $600,000s. The building will also include two retail spaces. Occupancy is slated to begin in September 2007. Prudential Douglas Elliman is the exclusive sales agent. Contact: www.fultononclinton.com.
Downtown Brooklyn
be@schermerhorn
189 Schermerhorn Street
Wachovia Bank closed $100 million in financing to SDS Procida and Jamestown Properties Corp. for the construction of a mixed-use project that will include a 25-story tower and a six-story loft building connected by a garden. Amenities in the 246-unit condominium complex include a greenhouse, fitness room and entertainment lounge. The project will have 15,000 square feet of ground-floor retail space and an underground parking facility. Occupancy is slated for fall 2008.
East Williamsburg
Olive Park
100 Maspeth Avenue
Sales are under way for the seven-story, 87-unit new construction condominium. The L-shaped building will be the first in its area to have an indoor swimming pool, according to sales and marketing agent Aptsandlofts.com. Units range in size from 450-square-foot studios to a 1,300-square-foot penthouse, with prices running from $330,000 to nearly $1 million. Contact: www.aptsandlofts.com.
East Williamsburg
TwoOneNine Withers
219 Withers Street
Sales are under way at the five-story, 12-unit condominium. The project will include two 1,600-square-foot one-bedrooms on the ground floor; nine 1,000-square-foot two-bedrooms; and one 1,750-square-foot, three-bedroom penthouse that has already been sold for $1.3 million. Residences are priced from $610,000. The Developers Group is the sales and marketing agent. Contact: www.thedevelopersgroup.com.
Park Slope
The Crest
302 2nd Street
Boymelgreen Developers and the Katan Group are developing the 68-unit luxury condominium between Fourth and Fifth avenues. The building’s one- and two-bedroom homes range in size from 550 to 985 square feet, with prices for available units ranging from $396,000 to $712,000. Occupancy is slated for fall 2007. Corcoran Group Marketing is the exclusive sales and marketing agent. Contact: www.crestparkslope.com.
Soho
135 Crosby Street
AS Realty Partners have retained Sonnenblick Goldman to arrange a $25 million construction loan for the development of the eight-story, 11-unit luxury rental building. The project will include ground-floor retail space. AS Realty Partners will also use the loan to help finance construction of its eight-unit rental at 372 Lafayette Street. Both will be LEED-certified green projects.
Soho
151 Wooster Street
Local developers Michael and Izak Namer are working with architect Lee Skolnick to convert the building — reportedly home to the first art gallery in Soho, which opened in 1968 — into 10 condominium lofts and two penthouses. The three-bedroom lofts will be 3,000 square feet each, with 11-foot ceilings and stone-clad fireplaces. Prices run from $3.5 to $9.5 million, and occupancy is slated for spring 2008. Corcoran Group Marketing is the exclusive marketing and sales agent. Contact: www.151wooster.com.
Upper East Side
Azure
333 East 91st Street
The Singer & Bassuk Organization arranged $156 million in financing from HSBC Bank for the construction of the 245,000-square-foot, 128-unit luxury cooperative building. Residences will average 1,400 square feet. The developers, the DeMatteis Organizations and the Mattone Group, will also construct a school on an adjacent parcel of land, according to GlobeSt.com.
Upper East Side
1381-1389 Third Avenue
Skyline Developers will build a luxury high-rise residential rental building in place of five residential and commercial buildings. The site was purchased for $36 million and will allow for 150,000 square feet of development once the current buildings are demolished. The project will contain two floors of retail space.
Construction Update
Long Island City
28-10 Jackson Avenue
Tishman Speyer will develop a residential high-rise building with ground-floor retail space on currently contaminated land pending state permission, the Queens Chronicle reported. TST LIC Development, a company affiliated with Tishman, would rehabilitate the property under the Brownfield Cleanup Program.
Soho
Trump Soho Hotel Condominium New York
246 Spring Street
Having received a permit from the Department of Buildings, Donald Trump’s hotel-condo project is expected to be completed by spring 2009. The sales center will open soon for the 45-story, 413-unit building. It is being developed by the Bayrock Group and the Sapir Organization. Core Group Marketing and Prodigy International are the exclusive sales and marketing agents. Contact: www.trumpsoho.com.
Upper East Side
85th Street and Second Avenue
Ascend Group LLP has paid $45.25 million for the three vacant buildings and plans to build a 21-story, 105,000-square-foot luxury condominium project on the site, the New York Post reported. Architectural firm Cetra/Ruddy designed the L-shaped tower.
Williamsburg
144 North 8th Street
Following a successful lawsuit that resulted in the under-construction “Finger” building in Williamsburg being capped at 10 stories rather than 16, plaintiff Scott Spector is calling for the building’s developers — who include Mendel Brach, Moshe Owen and architect Robert Scarano — to tear down the entire building. Spector originally sold the Finger site to the development team in 2004, and he owns many adjacent properties. Spector’s attorney says the Finger’s development team used land and air rights that actually belonged to Spector in order to construct the building, and that the incomplete building must therefore be razed, the Architect’s Newspaper reported.
Financing
East Harlem
225 East 111th Street
A seven-story, 12-unit loft-style condominium building is planned for the currently vacant site. Houlihan Parnes/iCap Realty Advisors LLC arranged $800,000 in financing for the purchase of the land.
Financial District
127 Fulton Street
AFC Realty Capital has arranged $23.8 million in acquisition and development financing for the condominium conversion project. Once renovated, the 1892-vintagebuilding will have eight full-floor residences and ground-floor retail space.
West Village
397 West 12th Street
Sonnenblick Goldman has arranged a $27 million acquisition and construction loan, provided by the Bank of New York, for Tamarkin Co.’s development of the 10-story, four-unit condominium with ground-floor retail. The homes will range in size from 3,600 to 6,600 square feet.
Sales Update
Dumbo
133 Water Street
The 12-story, 52-unit rental building was 15 percent leased by early May, within the first week of marketing. The building has studio, one-, two- and three-bedroom apartments renting for between $2,700 and $6,500 per month. Amenities include a refrigerated storage room, common roof deck and fitness center. The marketing and sales agent is aptsandlofts.com. Contact: www.133water.com.
Flatiron
141 Fifth Avenue
Savannah Partners’ 38-unit luxury condominium was more than half sold by mid-May, after 10 days of sales, the Post reported. One-bedrooms start at $1.6 million, two-bedrooms start at $2.6 million, and three-bedrooms are priced from $3.2 million. Core Group Marketing is the exclusive sales and marketing agent. Contact: www.141fifthavenue.com.
Greenwich Village
48 Bond Street
The 11-story, 17-unit luxury condominium was more than 50 percent sold as of late May, when it celebrated its topping out. The building, designed by architects Deborah Berke and David E. Gross, features loft-style homes ranging in size from 1,500 to 3,700 square feet. Amenities include a 60-foot swimming pool and a gym. Stribling Marketing Associates is the exclusive sales and marketing agent. Contact: www.48bond.com.
Harlem
The Kalahari
40 West 116th Street
By the beginning of June, the 12-story, 129-unit condominium was more than 50 percent sold. Prices run from the $500,000s to more than $1 million for one-, two- and three-bedroom units. The two-tower project will be completed in early 2008. The Marketing Directors Inc. is the exclusive sales and marketing agent. Contact: www.kalahari-harlem.com.
Lower Manhattan
be@william
90 William Street
Sales are under way at SDS Procida’s 16-story, 113-unit condominium conversion. Studio and one-bedroom units range in size from 640 to 1,000 square feet, and are priced between $480,000 and $793,000. Two-bedroom units from 1,000 to 1,200 square feet start at $1 million. Occupancy is slated for fall 2007. Corcoran Sunshine Marketing Group is the exclusive sales and marketing agent. Contact: www.90williamstreet.com.
Midtown West
The Hit Factory
421 West 54th Street
The seven-story, 27-unit condominium building was 65 percent sold by mid-May. The Arpad Baksa-designed project offers one- to three-bedroom loft-style homes ranging in size from 1,100 to 3,400 square feet. Six penthouse duplexes have private terraces spanning 225 to more than 1,400 square feet. Prices run from $1.1 to more than $4 million. Occupancy is slated for summer 2007. Contact: www.thehitfactorycondo.com.
Murray Hill
45 Park Avenue
By the end of May, SJP Residential Properties’ 22-story, 105-unit condominium was more than 75 percent sold. One office condominium with a separate entrance also remains available. Contact: www.45parkave.com.
St. George
The Pointe Condominium
155 Bay Street
Sales are under way for developer Leib Puretz’s six-story, 57-unit condominium complex in northeast Staten Island. The project will include one- and two-bedroom luxury apartments, as well as 19,000 square feet of community and retail space on the ground floor. Prices start at $465,000. Casandra Properties is the exclusive sales and marketing agent. Contact: www.thepointestgeorge.com.
Tribeca
200 Chambers Street
Jack Resnick & Sons’ 30-story, 258-unit condominium was 95 percent sold as of early May, and residents have begun moving in. The remaining two- and three-bedroom units are priced from $1.95 to $3.01 million. The Marketing Directors Inc. is the exclusive marketing and sales agent. Contact: www.200chambersstreet.com.
Tribeca
Tribeca Summit
415 Greenwich Street
The eight-story, 65-unit luxury loft condominium developed by Joel Silver and Ethan Eldon was more than 75 percent sold as of early May. Units are priced from $2.4 to $32.5 million. Amenities include a fitness center, children’s playroom and 24-hour attended parking. Prudential Douglas Elliman Developments is the exclusive marketing and sales agent. Contact: www.tribecasummit.com.
Upper East Side
Maison East
1438 Third Avenue
By the beginning of June, Broad Street Development’s condominium conversion was more than 75 percent sold, within six months of sales. Homes are priced from $800,000 to $3.2 million and available for immediate occupancy. Residences range in size from 775 to 2,000 square feet. Prudential Douglas Elliman is the exclusive sales and marketing agent. Contact: www.maisoneast.com.
Upper West Side
10 West End Avenue
The 33-story, 173-unit condominium developed by Apollo Real Estate Advisors and Cambridge Development and Construction was more than 80 percent sold by the end of May. The one- to four-bedroom homes range in size from 750 to 2,600 square feet, and many have private balconies or terraces. Occupancy is slated for summer 2007. The Sunshine Group is the exclusive marketing and sales agent. Contact: www.10wea.com.
Upper West Side
The Harrison 76
205 West 76th Street
The sales center for the Related Companies’ LEED-certified condominiums will open this summer. The two-tower complex, which was designed by Robert A.M. Stern Architects, will offer studio, one-, two-, three- and four-bedroom apartments and include an Equinox Gym. Contact: www.theharrison76.com.
Upper West Side
The Apple Bank Building
Condominium
2112 Broadway
The luxury condominium conversion was ready for occupancy and more than 70 percent sold as of late May. Brown Harris Stevens is the exclusive sales and marketing agent. Contact: www.brownharrisstevens.com.