Real Estate Weekly
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NEW DEVELOPMENT: Arthur takes a bow; Gale apartments sold out; 540West a hot commodity

● Naftali Group
Arthur makes his debut

The Naftali Group has launched its leasing program at The Arthur, it’s re-worked new rental at 245 West 25th Street.
The 1938 art-deco style building is on the same tree-lined block as The Seymour, Naftali Group’s new 12-story luxury condo.
Newly completed renovations blend Arthur’s pre-war charm with modern living.
Floor plans are expansive, ceilings are 9 ft., the floors are hardwood and heating and air is central.

The lobby at The Arthur
The lobby at The Arthur

The Arthur’s lobby will be completely redesigned, accented with Limestone, oil rubbed black steel and walnut paneling, and complemented with a beautiful landscaped entry garden.
Residents at The Arthur are offered a wide array of amenities to enhance their experience, including a 24-hour doorman, a fully equipped fitness center, and a landscaped roof top with lounging and dining areas, a barbeque, and an outdoor shower.
“We are proud to bring these special residences to the heart of Chelsea – a neighborhood with a strong demand for quality inventory,” said Miki Naftali, founder and CEO of the Naftali Group.
“These beautifully renovated homes are a rare find – especially in Chelsea.”
Roy Kim, head of New Development at Urban Compass, the exclusive leasing and marketing firm for the property, is leading the leasing drive.
Occupancy is slated for November 2014. Prices for the first four residences start at $4,200.

●euro properties
BHS to market new 59th St. tower

International Real Estate Developer Euro Properties announced that Brown Harris Stevens Development Marketing will serve as the exclusive marketing and sales agent for its new luxury condominium tower to be built at 118 East 59tStreet.
The site is ensconced in the Upper East Side’s evolving residential district above 57th Street.
The announcement was made by Que Yau Neo, the CEO of Euro Properties.


Stephen Kliegerman, president of Brown Harris Stevens Development Marketing, will lead the team and will oversee all sales and marketing for the development.
“This development is certain to become a favorite among buyers who are looking for luxury, convenience and comfortable living in one of the most dynamic areas of Manhattan. 118 East 59th Street will transform the block, providing a sleek, modern building with true sanctuaries inside,” said Kliegerman.
The 38-story condo will offer 29 homes with a mix of one- and two-bedrooms, plus two duplexes and a triplex penthouse.
The building is anchored by a three-floor retail condominium at its base.
Soo Khian Chan of SCDA Architects is developing the design of the tower. Pre-construction of the tower began earlier in 2014.

●gale international
21W20 apartments all under contract
The new “ultra-luxuryˮ Flatiron building 21W20 has all 1,302 s/f, two bedroom, two bath units under contract.
Designed by interior architect David Mann, of MR Architecture + Décor, the floor-through units have direct elevator access, gracious entertaining space, open-plan living and dining room areas and eat-in kitchens with custom-design finishes.
The prices for the nine homes ranged from $2.5 million to more than $3.1 million.
Located just off Fifth Avenue, the Beyer Blinder Belle designed 21W20 features a glass, cast iron and stone façade that rises from the street to the tenth floor.
On the eleventh floor, floor-through Penthouse Homes are perched atop a restored, landmark-protected structure.
The four rooftop penthouse homes are expected to be released early 2015 priced from $12 $23 million.

● fortis property group / wonder works
Hot for Hell’s Kitchen condos

540West, the new condominium development project in Hell’s Kitchen, is 80 percent sold, according to development team Fortis Property Group and Wonder Works Construction Corp. Located mid-block between 10th and 11th Avenues at 540 West 49th Street, 540West has released its final units — three duplexes and four penthouses, all of which have private roof terraces and premium appliance packages.
Occupancy is slated for January 2015.


Jonathan Landau, CEO of Fortis Property Group, said prices so far have been record-breaking, including a recent $2,300 psf penthouse sale.
540West is comprised of two interconnected seven-story buildings — a North and South Tower — with apartments ranging in from 501 to 1,625 s/f. The south tower is sold out.
Remaining residences are priced starting at $735,000 to $3.575 million for the penthouses.
“540West has resonated with buyers who appreciate its quality, the fiber of the neighborhood and the fact that they can close within 100 days. The remaining units will not stay long on the market for long,” said Stephen McArdle, senior managing director of Halstead Property Development Marketing, 540West’s exclusive sales and marketing team.
The towers were designed by S9, an affiliate of Perkins Eastman Architects PC.

● glenwood
Glenwood partners with closet stars

With 15 full-floor luxury residences, Sixty East Eighty Sixth, will provide residents top-of-the-line closet organization services and wardrobe management as an added amenity to the property’s lifestyle offerings.
Garde Robe and Clos-ette have partnered with Sixty East Eighty Sixth to offer buyers exclusive benefits.
They will provide homeowners with a premium level of turn-key closet design and organization.
Garde Robe offers a singular wardrobe storage and concierge service, where each piece is cleaned, pressed and stored off-site in museum-quality conditions, with same-day delivery upon request.
An iPad app with photographs of all pieces is an added bonus with Garde Robe’s service, giving members access to a visual catalogue of their items at their fingertips.
Clos-ette works within the home, organizing and merchandizing residents’ wardrobes to display items beautifully and allowing clients to see their collection in a new light.
Three- and four-bedroom homes at Sixty East Eighty Sixth are priced from $8.45 million.

● invesco
Instrata NoMad bulks up

Instrata NoMad has created 20 new three-bedroom rental units.
At over 1,600 s/f each, the new units will have three bedrooms and three bathrooms, and two private balconies with city views.
“We combined smaller units to create the 20 new three-bedroom units at NoMad because the market is calling for it,” explained Rob Neiffer, director at Invesco, the sponsor of INSTRATA Lifestyle Residences.

Instrata NoMad
Instrata NoMad

“Until recently, for those wishing to rent a quality three-bedroom apartment – one with condo-level finishes and amenities in a choice location – the only choice was to rent a private condo. Some new buildings offering three-bedrooms have come online over the past year or so, but Manhattan is still experiencing a shortage.”
The new three-bedroom are priced from $13,600 to $15,700. Instrata NoMad also offers studios to two bedrooms from $2,910-$7,840.

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