NEW DEVELOPMENT: LIC building ready for debut, Sag Harbor condos coming to market
●WATER STREET DEVELOPMENT
Hamptons, here we come
Water Street Development at Sag Harbor LLC and Halstead Property Development Marketing announced the debut of Harbor’s Edge residences.
Located at 21 West Water Street, a few blocks from Main Street on the waterfront in Sag Harbor, Harbor’s Edge luxury condominiums will open for sale late spring.
The development has 15 two-and-three bedroom condo along with three penthouses. The homes offer loft-like great rooms, custom millwork, fireplaces and abundant wall space.
The penthouses offer an opportunity for buyers to own property on the water in the Hamptons. Each resident at Harbor’s Edge will have access to an in-season concierge, water view outdoor spaces including private terraces and balconies, and a rooftop sundeck with swimming pool, wet bar, and kitchen.
Water Street Development at Sag Harbor LLC is wholly owned by its parent company, a New York-based investment fund.
Core does it Miles better
One Museum Mile, the new residential condominium located at 1280 Fifth Avenue on Central Park in Manhattan, is now 100 percent closed or in contract, announced CORE, the exclusive sales and marketing firm for the building.
“We are very pleased with the success of One Museum Mile,” stated Tom Postilio, CORE’s director of sales for One Museum Mile. “Buyers have recognized the building’s overall value and exceptional quality of the amenities, design and finishes, as well as its prestigious Fifth Avenue location with sweeping Central Park vistas.”
The 115 residential interiors at One Museum Mile were created by Andre Kikoski, who also designed the award-winning restaurant The Wright at the Guggenheim.
Robert A.M. Stern Architects, LLP, served as design architect for the building. SLCE Architects served as architect-of-record.
Manhattan-based real estate private equity firm Brickman is the developer of One Museum Mile. Brickman is 100 percent owned by its principals Bruce Brickman and Kathleen Corton.
Sold out in a year
Following the sale of the 20th floor penthouse, Victor Homes and CORE announced the completion of sales at 241 Fifth.
The building includes 46 condos designed by Eran Chen of ODA-Architecture and built by Triton Construction Company.
Located in the newly branded NoMad district on Fifth Avenue, between 27th and 28th Streets, 241 Fifth was one of the first among a growing number of new developments in the neighborhood.
“Since Victor Homes broke ground at 241 Fifth, the NoMad district has evolved into a coveted residential neighborhood in a once-ignored area of Manhattan,” said Shaun Osher, CEO of CORE, exclusive sales and marketing firm for 241 Fifth.
“Closing sales in exactly one year is a testament to demand for this untapped neighborhood combined with beautiful, modern design.”
Prices ranged from $820,000 for a one bedroom to nearly $10 million for the 20th floor penthouse, commanding a building average of $2,000 psf.”
“This is perhaps the first project in the current new development cycle to be truly sold out within one year with all units fully closed in downtown New York City,” noted Doron Zwickel, director of sales, 241 Fifth.
●MILL CREEK RESIDENTIAL
Lofty plan for Jersey warehouse
Mill Creek Residential partnered with Rockwood Capital to buy 350 Warren Street, an eight-story warehouse in Jersey City, NJ.
Mill Creek plans to redevelop the property into a luxury multifamily community.
Mill Creek’s plan includes the transformation of the site into a community of 366 loft-style luxury apartment homes. The community will include amenities including a rooftop deck, fitness studio, clubroom with bar, dog washing station, bicycle storage and repair station, conference rooms and 24-hour concierge.
“Mill Creek is actively and strategically identifying investment opportunities within the Northeast and we are excited to continue to expand our presence in New Jersey with another luxury apartment community,” said Richard Murphy, managing director, Mill Creek Residential.
“Jersey City is teeming with new development and we anticipate playing a major role in the continuing transformation of this neighborhood.”
This is Mill Creek’s second luxury apartment development in New Jersey. In 2013, the company began construction of Latitude, a luxury rental apartment community situated on Early Street in downtown Morristown. Leasing is expected to begin in the third quarter of this year.
Within a mile of 350 Warren, there has been a 50 percent increase in population since 2000. The new residents are comprised of the key renter demographic of 25- to-44-year-old, highly educated renters, with over 75 percent over the age of 25 having at least a college degree and over 88 percent working white collar jobs and having an average annual household income of $132,000.
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