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    Mercedes House

    550 West 54th Street
    New York, NY 10019
    (718) 222-2500
    Office, Retail, Residential, New Construction, Leasing/Rental, Other, Multifamily

    The residential-and-retail complex at 550 West 54th Street on Manhattans far West Side takes its name from the car dealership at its base. It also takes a goodly portion of its luxury vibe from the Mercedes-Benz brand name, too.

    The Mercedes House is a winding, almost S-shaped luxury complex designed by Enrique Norten and stretching to 32 floors at its peak. Many of its 974 units have unobstructed views of the Hudson River; and the complex boasts amenities that include private greenspace, a golf simulator, pools, a fitness center and a spa.

    The first 222 units of the Mercedes House hit the market in early 2011. Less than two years later, Invesco Real Estate bought the complexs 162-unit condo component for $170 million and then leased them quickly as apartments. Units in the building average rents of around $4,000 a month, according to Streeteasy.

    Two Trees Management developed the Mercedes House. It marked an audacious Manhattan debut for the Brooklyn-based firm most famous for building up the Dumbo neighborhood in that borough.

    • Address 550 West 54th Street
    • neighborhood Hell's Kitchen
    • borough Manhattan
    • owner Two Trees Development
    • developer Two Trees Development
    • owner entity 536 WEST 54TH ST LLC A,B,C
    • PLANS DISCLOSED 08/03/2007
    • dob permit issued 05/19/2009
    • tco issued 04/28/2011
    • DOB FILE PLANS 08/03/2007
    • DOB FILE Link
    • floors 31
    • Year Built 2009
    • residential units 864
    • total units 864
    • square feet 799,348
    • const. status Building Complete
    • block and lot 1-01082-7501
    • BIN 1088726
    • Event Retail Leasing
    • Address 550 West 54th Street
    • Neighborhood Clinton
    • Borough Manhattan
    • Square feet 5,000
    • Publication Date 08/01/2013
    • Event Date 06/22/2013
    • Party 1 Two Trees Management
    • Party 1 Brokerage In-house
    • Party 2 MH Supermarket Corporation
    The supermarket signed a lease at the Mercedes House luxury rental building, the New York Observer reported. The asking rent was $60 per square foot, according to the publication.
    • Event Sales
    • Address 555 West 53rd Street
    • Neighborhood Clinton
    • Borough Manhattan
    • Price $ 170,000,000
    The 162 apartments at the new development Mercedes House sold for $170 million, the Wall Street Journal reported. The property has 874 units in total.
    • Event Financing
    • Address 555 West 53rd Street
    • Neighborhood Clinton
    • Borough Manhattan
    Two construction loans totaling $229 million was provided for the financing of the second phase of development at Mercedes House. The first phase opened for occupancy in May. A team led by John McCarthy of law firm Morrison & Foerster represented the lenders on the deal. 850-unit apartment building.
    • Event Retail Leasing
    • Address 770 11th Avenue
    • Neighborhood Clinton
    • Borough Manhattan
    • Square feet 332,982
    The automaker signed a lease for a new dealership. It will include 39,236 square feet of ground-level showroom and office space and 28,918 square feet of mezzanine space, as well as three below-grade levels totaling 264,828 square feet. The facility will replace the company's existing flagship dealership at 41st Street and 11th Avenue.

    Her projects include the Strata at Mercedes House, Invesco Real Estate’s portion of Two Trees Management’s zig-zag building in Hell’s Kitchen, and the sister building on 29th Street...