Mercedes House | The Real Deal New York

The Real Deal New York

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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
  • architect ISMAEL LEYVA ARCHITECTS PC
  • 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

09/01/17
...was looking to do something similar to Manhattan's Mercedes House at 550 West 54th, which has 864 rental apartments atop the NYPD's Mounted Unit. Now that...

01/14/16
...beginning of 2013, snapping up assets such as the Mercedes House rental building for $170 million  and paying $175 million for a stake in the Factory Building...

10/15/15
...well-known German brand at the base of its Mercedes House at 54th Street and Eleventh Avenue, and TF Cornerstone, whose site at 660 Twelfth Avenue...

05/18/15
...alone, the investment firm bought the rental building Mercedes House at 550 West 54th Street for $170 million and dished out $240 million for a stake in...

01/29/15
...the base of Two Trees' luxury rental development, Mercedes House, on 11th Avenue between 53rd and 54th streets. Silverstein is looking to change the...

11/24/14
...and about two blocks east of Two Trees’ Mercedes House. Ivan Hakimian, along with Eli Scharf of HPNY, was involved in the transaction. He...

...this year. Her projects include the Strata at Mercedes House, Invesco Real Estate’s portion of Two Trees Management’s zig-zag building in Hell...

...built along Riverside Drive, and the success of Mercedes House nearby, demonstrates real estate developers’ belief in the future of the Far West 50s-...

07/23/14
...Street, Two Trees Management named its luxury-rental building Mercedes House after its equally luxurious ground tenant hocking the German-made autos. The Manhattan Mercedes Benz...

05/15/14
...in the area, such as the completed 874-unit Mercedes House at 550 West 54th Street. Closer are projects in the works include TF Cornerstone’s...

04/24/14
...nears 3. Fashion model joins Stribling team 4. Tenants dig Mercedes House amenities, minus the ping pong 5. Newtown Creek Boathouse inches closer to fruition 6. On the...

04/15/14
...From left: Mercedes House and an NYPD horse The opulent 32-story Mercedes House project on the Far West...

...is also home to Two Trees Management’s Mercedes House at 555 West 53rd Street, from KBS Realty Advisors for around $110 million in late 2012. Jones...

02/26/14
...that is also home to Two Trees Management's Mercedes House at 555 West 53rd Street, from KBS Realty Advisors for around $110 million in late 2012. Jones...

...onevandam.com. Leasing update Midtown West Instrata at Mercedes House 550 West 54th Street The 162-unit luxury residence, which sits atop the Enrique Norten–designed...

01/08/14
...for a studio, mind you). Best Gym/Spa Mercedes House Rents at the Mercedes House, on 54th Street off 11th Avenue, run more than...

01/07/14
...Mercedes House at 550 West 54th Street Invesco Real Estate's Instrata at Mercedes House is 100 percent leased...

10/10/13
...of 162 apartments on the upper floors of the Mercedes House at 555 West 53rd Street to Dallas-based Invesco, another deal which Abehsera orchestrated. He also...

09/04/13
...penthouses at the Strata, the luxury rentals atop Mercedes House at 555 West 53rd Street. The building, as previously reported, was nearly 70 percent leased as...

08/23/13
...Mercedes House at 555 West 53rd Street UPDATED, Aug. 23, 10:41 a.m.: Once-maligned Hell’s Kitchen's residential real...

07/17/13
...left to be leased at the Strata at Mercedes House rental development in Hell’s Kitchen. Around 200 brokers and bigwigs from the investment firm...

07/09/13
...Mercedes House Residents of the 29-story luxury rental Mercedes House soon won’t have to travel far for groceries. MH Supermarket signed a 15-year...

...the Frank Gehry–designed 8 Spruce Street and 864-unit Mercedes House, hit the market as rentals instead. Other condo projects stalled or changed owners. But...

06/18/13
...Mercedes House The first two phases of Two Trees Management's zigzag-shaped Mercedes House development are now...

02/12/13
...Village condo 2. Two Trees sells condominium portion of Mercedes House for $170M to Invesco  3. Town broker named in co-op race bias suit...
  • 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
notes
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
notes
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
notes
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
notes
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.

...this year. Her projects include the Strata at Mercedes House, Invesco Real Estate’s portion of Two Trees Management’s zig-zag building in Hell...