Post Luminaria | The Real Deal New York

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Post Luminaria

385 First Avenue
New York, NY 10010
347-756-5050
Residential, Sales, Condo (Building), Multifamily

The sponsor(s) filed plans on 12/11/14 for a condo project at 385 First Avenue with 114 residential units. The sponsor(s) were approved to market the units for sale on 09/15/15. TRData has determined that the sponsor(s) have sold more than 80 percent of the sponsor units in the building.

  • Address 385 First Avenue
  • neighborhood Gramercy
  • borough Manhattan
  • owner Magnum Real Estate Group
  • developer Magnum Real Estate Group
  • owner entity MF 385 FIRST AVE LLC
  • architect Gerner, Kronick & Valcarcel Architects
  • sales/marketing Corcoran Group
  • PLANS DISCLOSED 12/30/2014
  • dob permit issued 07/16/2015
  • tco issued 07/25/2017
  • DOB FILE PLANS 12/30/2014
  • DOB FILE Link
  • LIST/LAUNCH SALES 09/15/2015
  • height in feet 210
  • floors 20
  • AG Initial Price $ 184,064,000
  • ag file plans 12/11/2014
  • AG FILE Link
  • residential units 114
  • commercial units 3
  • hotel units 0
  • total units 188
  • square feet 118,432
  • const. status BUILDING COMPLETE
  • block and lot 1-00928-7505
  • BIN 1086124
  • documents click here

02/28/17
...property's original moniker: It was known as the Post Luminaria when Magnum acquired it from real estate investment trust Post Properties in 2014. Corcoran Sunshine...

08/15/16
...Post Toscana at 389 East 89th Street and 123-unit Post Luminaria at 385 First Avenue — to developer Ben Shaoul for $270 million. MAA CEO Eric Bolton Jr...

07/21/15
...Street in Tribeca (155 units, $973 million sellout); Shaoul’s Post Luminaria at 385 First Avenue in Gramercy Park (138 units, $177 million sellout); Bizzi & Partners’ 96 Varick Street...

...two properties that will be relaunched as condos: Post Luminaria at 385 First Avenue and Post Tuscana at 389 East 89th Street. In September, meanwhile, Related...

10/15/14
...Post Toscana on the Upper East Side and Post Luminaria in the East Village UPDATED, 2:40 p.m., October 18: Ben Shaoul now has the funds...

07/05/14
...Toscana, at 389 East 89th Street, and the 138-unit Post Luminaria, at 385 1st Avenue, for a total of $270 million -- over $800,000 per unit. The buildings...

...a 31-story, 209,930-square-foot tower with 199 units; the 150,800-square-foot Post Luminaria stands at 20 stories and has 138 units. A few units are renting at market rate...

08/13/08
...the 199-unit 389 East 89th Street and the 138-unit Post Luminaria at 385 First Avenue, would fetch about $250 million. Douglas Harmon of Eastdil Secured was hired...

...which will be a companion piece to the Post Luminaria, a Late Modern-style luxury rental building he designed at 23rd Street and First Avenue...
  • Event Sales
  • Address 385 First Avenue
  • Neighborhood Gramercy
  • Borough Manhattan
  • Square feet 150,800
  • Price $ 32,900,000
  • Publication Date 03/01/2017
  • Event Date 01/15/2017
  • Party 1 Cheerland Investment Group
  • Party 2 Hudson West VI
notes
The purchaser, a Chinese investor, acquired a 32.9% percent stake for $32.9 million in the 20-story multifamily rental-turned-condo building.

For years, the promise of a Second Avenue subway line has tantalized residential developers who have been hungrily eying the stretch of the Upper East...

07/21/15
...Street in Tribeca (155 units, $973 million sellout); Shaoul’s Post Luminaria at 385 First Avenue in Gramercy Park (138 units, $177 million sellout); Bizzi & Partners’ 96 Varick Street...
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