Real Estate Weekly
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Deals & Dealmakers Residential

New Development: Art Deco-inspired offering

● Ceruzzi Properties
Art Deco-inspired offering

Ceruzzi Properties has announced that its offering plan for The Centrale has been declared effective. 

Designed by Pelli Clarke Pelli, this 71-story Art-Deco-inspired property at 138 East 50th Street features facets of terracotta chevrons and crystalline switchbacks.

The Centrale has 124 homes with exclusive sales and marketing being handled by Douglas Elliman Development Marketing. One to three-bedroom residences range from $1.695M to over $5M, full-floor tower residences from $10.250M, and The Centrale Penthouse price is available upon request.

● Truss Development
Bond NY marketing Harlem condo

Bond New York has been named the exclusive sales and marketing agent of Truss Development’s new condominium development at 2600 Seventh Avenue in Harlem.

The building is new from the ground up, and it will house 103 residential condos plus nine community facility commercial condos as well as an indoor parking garage. The property occupies a full city block between West 150th and West 151st Streets, and it is located directly off the 149th Street 3 express subway stop and across from Frederick Johnson Playground and Tennis Courts.

Currently under construction, closings are expected to begin in the spring of 2020.

Designed by Lin Architects, and constructed by Truss Development, this large scale condo is the latest amenity-rich doorman building in the area. The developer has priced the condos slightly below market, with many one bedrooms ranging from $556,000 and many two bedroom/ two bathroom homes starting at $898,000.

There are two, three-bedroom penthouse apartments as well. The building features many balconies and terraces, and is built to a high level of energy efficiency.

The project is anchored on an unusually large slab of bedrock which took the builders a full year to excavate the building’s foundation.
The building was designed to take full advantage of the open views, including Harlem River views from the upper floors.

● SK Development
LIC condo Corte ready for residents

Closings have officially launched at Argentinian-designed luxury condominium, Corte, in Long Island City’s Court Square neighborhood. The low-rise, eight-story building received its temporary certificate of occupancy last week, and is now immediate-occupancy with move-ins beginning this month.

Since sales launched in July 2018, 80 percent of Corte’s 85 residences have sold. Modern Spaces, the Queens-based firm exclusively handling marketing and sales for Corte, saw a major spike in interest from potential buyers during Amazon’s plans to put its second headquarters in LIC.

The low-rise building was designed in collaboration by Argentina-based Dieguez Fridman Arquitectos & Asociados and NYC-based Beyer Blinder Belle in a distinctly asymmetrical style. Studio to three-bedroom residences at Corte range in price from the mid-$500,000s to $3M and feature terraces; floor-to-ceiling windows; hardwood floors; in-unit washer and dryers and kitchens with Miele appliances, marble-clad countertops, waterfall islands and wood cabinetry.

Amenities include a 24-hour concierge, fitness center; a lounge, which opens to an outdoor courtyard, a Bocce court, outdoor showers and BBQ grilling stations.

F&T Group
Move-ins underway at first Tangram apartment tower

Tangram House South – the first residential tower to be completed at the 1.2 million-square-foot Flushing development – has officially commenced closings and move-ins have begun.

Located at 133-27 39th Avenue, Tangram House South comprises a collection of 192 studio to three-bedroom residences, including a diverse array of penthouses and furnished studios.

Designed by Margulies Hoelzli Architecture, with interiors by a Jean-Gabriel Neukomm, the homes bring eastern sensibilities to western design.

Almost all of the residences will offer balconies and select units will feature fireplaces, outdoor barbeque grills and private terraces.

In addition to having Tangram’s retail, dining and entertainment right at their fingertips, residents of Tangram House South, as well as future residents of Tangram House West, will also enjoy access to exclusive private amenities and hotel-caliber services, including an 8,000s/f health and wellness club.

Other amenities include a one-acre outdoor garden with a 3,500 s/f teahouse-inspired residents’ lounge .

Nestled right next door at 37-09 College Point Boulevard, Tangram House West is the second residential tower of the Tangram development and will introduce 132 luxury residences ranging from studios to four-bedrooms. It is expected to launch sales in late spring 2020.

Kayne Anderson Real Estate
Senior development on schedule

The $330 million redevelopment of 21 Clark Street, by Watermark Retirement Communities in a partnership with Kayne Anderson Real Estate, proceeds on schedule for the early 2020 opening.

The Watermark at Brooklyn Heights is a conversion of the historic Leverich Towers Hotel and a former Jehovah’s Witnesses’ residential property, into an upscale senior residence, which will feature 275 newly renovated residences.

The building, considered one of Brooklyn’s iconic architectural landmarks, joins Watermark’s new lifestyle brand, the Élan Collection. 

The development team includes the majority owner Kayne Anderson, operator, co-developer, and minority owner Watermark/The Freshwater Group; and the development partner, minority owner, Tishman Speyer.

The lending consortium consisting of the lead lender BMO Harris, as well as Wells Fargo and Capital One, provided a $200 million acquisition and re-development loan.  

Watermark and Kayne Anderson’s partnership owns and operates a portfolio of 16 retirement communities.

Designed by Montroy DeMarco Architecture (MDA) with interiors by Lemay + Escobar  the contractor for the project is Hudson Meridian.

The current renovation will preserve much of the building’s original structure and history while adding a reimagined, stylish interior.

● Adam America /Slate Property
Closings start at Brooklyn Grove

 
Adam America Real Estate and Slate Property Group have commenced closings and move-ins at The Brooklyn Grove, the 184-unit condominium in Downtown Brooklyn with interiors by ODA New York.

This is the first Downtown Brooklyn project over 100 units to begin closings since 2014.

“We are proud to welcome new residents home to The Brooklyn Grove, and are excited for them to experience all that Downtown Brooklyn has to offer, and then come home to the beautiful Brooklyn Grove,” said Omri Sachs, founder, Adam America.

A dual-level amenity area includes a 40-foot indoor swimming pool illuminated by a large skylight. Adjacent changing rooms will provide privacy and convenience.

The residents lounge has 22ft. ceilings, a gas fireplace surrounded by floor-to-ceiling marble, and a pool table.

Additional amenities include a pet spa, package storage, and bicycle storage.

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