New Residential Developments

Chelsea
Chelsea Modern
447 West 18th Street
Sales are under way at Madison Equities’ 12-story, 47-unit condominium designed by Audrey Matlock. Prices for available units range from $1.63 million for a 1,300-square-foot two-bedroom to $3.57 million for a 1,887-square-foot three-bedroom. Occupancy is scheduled for early 2008. The Corcoran Sunshine Marketing Group is the exclusive marketing and sales agent. Contact: www.chelsea-modern.com.

Chelsea
459 West 18th Street
The sales office opened in March for the 11-story condominium designed and developed by Della Valle Bernheimer Architects. Occupancy of the full floor residences and multi-floor penthouses is scheduled for spring 2008. The Corcoran Group is the exclusive sales and marketing agent. Contact: www.459west18th.com.

East Elmhurst
112-02 Northern Boulevard
Developer LEV Group plans to construct a 44,000-square-foot mixed-use condominium just west of Shea Stadium in Queens. The building will include a full gym and a roof deck. Sales are expected to begin this spring. Contact: www.levdevelops.com.

Midtown East
865 United Nations Plaza
Sales are expected to begin soon at the 18-story, 57-unit luxury condominium conversion of a Tudor-style rental building, originally built in 1929. Studio and one-bedroom units will range in size from 660 to 990 square feet. Prices will start at $446,000 for studios and at $795,000 for one-bedrooms. Halstead Property is handling sales and marketing. Contact: www.halstead.com.

Midtown West
405 West 53rd Street
SDS Procida will build an 82-unit luxury condominium designed by Smith-Miller + Hawkinson Architects on the 34,700-square-foot site. The project will include nine triplex and 22 duplex townhouses, as well as 51 simplex units. Residents will have access to underground parking, a health club and private and public terraces. Construction, which will begin this spring, is slated for completion in winter 2008. Contact: www.sdsprocida.com.

Midtown West
505 West 47th Street
A joint venture of Parkview Development and LEV Group began construction earlier this year on the 84,000-square-foot, 109-unit condominium. The two mid-rise towers will have a shared terrace, a garden, a greenhouse and a gym. Sales are expected to begin this spring. Contact: www.levdevelops.com.

Tribeca
Artisan Lofts
143 Reade Street
Developer Tribeca Associates is converting a prewar industrial loft into an 18-story, 38-unit condominium. BKSK Architects designed the exterior; Roman & Williams are the interior designers for the two- to four-bedroom homes. The units range in size from 1,500 to 3,000 square feet, including a full-floor penthouse and three tower residences on the top levels. The building will house a children’s play space, a roof garden and a fitness center. An art gallery in the lobby will feature four professionally curated installations per year. Completion is slated for fall 2008. Corcoran Group Marketing is the exclusive sales and marketing agent. Contact: www.artisanlofts.com.

Upper East Side
The Brompton
205 East 85th Street
The Related Companies plans to open the sales office for the 22-story Robert A.M. Stern-designed condominium by the end of spring. Residents of the studio to five-bedroom units will have access to an Equinox fitness club, an entertainment lounge, a children’s playroom and 24-hour concierge service. Occupancy is expected in fall 2008. Related Sales is the exclusive sales and marketing agent. Contact: www.thebromptonnyc.com.

Upper East Side
The Legacy
157 East 84th Street
Sales are under way on what Core Development Group is calling the first glass curtain-wall condominium on the Upper East Side. The seven-story, seven-unit conversion of a former garage will include two duplex townhouses, three floor-through units and two duplex penthouses. The units range in size from 3,300 to 5,500 square feet, with prices running from $1,300 to $1,800 a square foot. Completion is expected by this fall.

Upper East Side
255 East 74th Street
The World-Wide Group has begun construction for the 30-story, 87-unit luxury condominium. H3 Hardy Collaboration is the lead architect. The project is aimed at growing families and will feature a 42,000-square-foot Equinox Fitness Center and 2,400 square feet of space designed for children and teens. Two- to five-bedroom units will be available; more than 70 percent will be three- or four-bedrooms. The largest apartments will be 3,500 square feet; prices will range from $2.5 to $7 million. Occupancy is slated for late 2008. Contact: www.255east74th.com.

Williamsburg
80 Met
80 Metropolitan Avenue
Steiner Equities is building a six-story luxury condominium on the site of the former Old Dutch Mustard building. The firm purchased the 127,000-square-foot site last year for $25 million and quickly demolished the long-vacant factory. The first phase of construction will bring 124 units to the market; the second will likely add 50 more units. The development will include a mix of standard apartment layouts as well as townhouses, and it will have an indoor pool. GreenbergFarrow is designing the project; Halstead Property will market it.

Williamsburg
Lucent
170 North 11th Street
Sales are under way for the Kiska Group’s six-story, 28-unit luxury condominium designed by Gene Kaufman. The building’s one- and two-bedroom homes will range in size from 668 to 1,260 square feet. Four two-bedroom penthouses will range from 1,246 to 1,260 square feet and feature private roof decks. Prices start at $475,000 and completion is scheduled for late 2007. The Developers Group is the exclusive sales and marketing agent. Contact: www.lucentcondo.com.

Construction update

Chelsea
175 Ninth Avenue
The General Theological Seminary has reversed course on a plan to build a 15-story condominium tower on its campus after news of the plan met with fierce community opposition, the Sun reported. The seminary wanted to build a 151-foot tower to generate $21 million in revenue for renovation of its existing 19th century buildings, but community activists charged the tower would have been out of place in the neighborhood. Officials intend to present a plan for a seven-story mixed-use residential building this month.

Lower East Side
250 Bowery
Construction work has begun on the city’s first green hotel-condominium. Flank Architects’ eight-story, 61,000-square-foot project will have 63 rooms, each around 450 square feet. The design incorporates energy-saving features such as a façde that optimizes natural light, insulating glass window units and reclaimed wood furniture. Amenities will include a spa and gallery, interior and exterior rooftop seating, a green roof and two subterranean levels.

Midtown
The Plaza Hotel
Central Park and Fifth Avenue
Owner Elad Properties said the hotel’s converted condominium and hotel-condo units will open on October 1, the building’s 100th birthday, NY1 reported. In addition to 282 transient hotel rooms, the renovated landmark will have 181 condominium units and 150 hotel-condo units. The condominium units, which are said to be 80 percent sold, range in price from $2.5 million to more than $40 million.

Upper West Side
165 West 86th Street
Richman Housing Services is planning a 21-story residential building adjoining the West-Park Presbyterian Church. The project will have separate entrances for its 50 affordable studio rentals on floors five through 10, and its 27 market-rate condominiums on floors 11 through 21. Some community members say the separate entrances will create “segregation” in the building.

Financing

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Flatiron
650 Sixth Avenue
Palisades Financial provided $93 million in financing for the acquisition and construction of the 67-unit condominium conversion. The units will range in size from 701 to 2,622 square feet. The project will also include 16,527 square feet of retail space. Shvo Marketing is the marketing agent for the residential space. Contact: www.650sixthave.com.

Midtown
855 Sixth Avenue
Fremont Investment & Loan closed a $105.3 million loan to Tessler Developments and the Chetrit Group for the acquisition and development of the mixed-use project. The 37-story, 500,000-square-foot building will have luxury condominiums on floors 15 through 37. The first two floors will contain retail space, and offices will occupy floors three through 14. Construction is slated to begin by the end of 2007.

Sales update

Battery Park City
The Visionaire
70 Little West Street
In its first week of sales, the 35-story condominium saw 10 percent of its 251 units sold. Prices start at $700,000 for studios and reach $10 million for penthouses. Completion is scheduled for fall 2008. The Marketing Directors Inc. is the exclusive sales and marketing agent. Contact: www.thevisionaire.com.

Harlem
The Langston
68 Bradhurst Avenue
By early April, the Gotham Organization and the Richman Group Development Corp. had sold 60 percent of the 10-story luxury condominium’s 180 units. Construction was recently completed for the mixed-use project, which includes 37,000 square feet of ground-floor retail space and an 80-car parking garage. The building’s two- and three-bedroom homes, including 13 duplex penthouses, range in price from $630,000 to $995,000. Occupancy began in April. Contact: www.thelangston.com.

Harlem
Casa Loma
229 West 116th Street
By the middle of March, eight weeks after the start of sales, Manor Properties Group had sold half of the condominium’s 16 units. Prices for the eight available units start at $450,800 for one-bedrooms and at $550,000 for two-bedrooms. A 1,660-square-foot duplex with private outdoor space is available for approximately $750,500. Warburg Marketing Group is the exclusive sales agent. Contact: www.warburgrealty.com.

Harlem
The Lenox
380 Lenox Avenue
Uptown Partners’ 12-story, 77-unit condominium was more than 60 percent sold as of mid-April. Occupancy began earlier this year. Available units include two-bedrooms priced from $740,000 to $850,000; three-bedrooms priced from $830,000 to $1.1 million; and one- to three-bedroom penthouses with rooftop terraces priced from $1.3 to $1.9 million. Griffin Real Estate Group is the exclusive sales agent. Contact: www.thelenoxnyc.com.

Long Island City
View59
24-15 Queens Plaza North
More than 55 percent of the condominium’s 39 units had been sold by mid-March, within five months of the start of sales. Units range in size from one-bedrooms to two-bedroom penthouses, and are priced from $410,000. Occupancy is slated for fall 2007. The Developers Group is the exclusive marketing and sales firm. Contact: www.view59.com.

Lower Manhattan
W Hotel
123 Washington Street
The Moinian Group tapped Shvo Marketing to sell the 222 residential units in the planned W Hotel, which will also include 217 hotel rooms. The project, designed by Gwathmey Siegel & Associates Architects, is slated to open for occupancy in 2008, with the sales office opening later this year, according to GlobeSt.com.

Midtown West
Archstone Clinton
510 West 52nd Street
Leasing is under way at the 24-story, 627-unit green rental complex, which is slated for occupancy in February 2008. Archstone-Smith and the Dermot Company are developing the two-building project, which will include 23,000 square feet of retail space. Rents for studios start at $2,600 per month, the New York Post reported. Contact: www.archstoneapartments.com.

Upper East Side
Maison East
1438 Third Avenue
By late March, three months after sales began, Broad Street Development’s 100-unit condominium conversion was 50 percent sold. The 31-story project has one- to three-bedrooms ranging in size from 775 to 2,000 square feet, priced from $800,000 to $3.2 million. Occupancy will begin in summer 2007. Prudential Douglas Elliman is the exclusive sales agent. Contact: www.maisoneast.com.

Upper West Side
The Apple Bank Building Condominium
2112 Broadway
Nineteen of the project’s 29 converted condominium units had been sold by early April after sales began last summer. The conversion, designed by SLCE Architects, was completed last year, and some units are already occupied. The 10 available units comprise five top-floor duplexes, four three-bedrooms and one four-bedroom. They range in size from 1,967 to 3,256 square feet, and are priced from $3.35 to $7.65 million. Brown Harris Stevens is the exclusive sales agent. Contact: www.brownharrisstevens.com.

Development in Brief

Manhattan (north to south)

Fifth Avenue between 109th and 110th streets
Two developers, Brickman and Sidney Fetner Associates, plan to build a tower of 115 luxury condominiums above the new location of the Museum for African Art, the New York Times reported. Construction is expected to begin in spring 2008 and be completed by the end of 2009. Architect Robert A. M. Stern and SLCE Architects will work on the project.

131-139 West 45th Street
Extell Development has announced plans for a 50-story, 268,000-square-foot condominium and hotel building at the site, Curbed.com reported.

304 Fifth Avenue
The site is on the market for sale with plans for a 15-story mixed-use building that includes 10 floors of residential condominiums.

60 Madison Avenue
Joseph Moinian has abandoned plans to convert the 200,000-square-foot prewar office building into residential condominiums, the New York Post reported. The building will remain commercial.

New Developments from Previous Month