Real Estate Weekly
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NEW DEVELOPMENT: Macklowe unveils 200 E. 59th Street, Sotheby’s tapped to close out 737 Park

200 East 59th Street Penthouse
200 East 59th Street

● Macklowe Properties
First look at 200 East 59th Street
Developer Macklowe Properties and its partners have begun construction of 200 East 59th Street, a 35-story residential condominium development.
Designed by CetraRuddy, 200 East 59th Street is clad in a basket weave of metals at its base. The 35-story tower will stand 490 ft. and hold 67 condos as well as 10,000 s/f of commercial space.
The palette, says the developer, is grounded in white oak plank flooring and precious white stone. Each home is bordered by a continuous terrace off the main living areas and the interiors are surrounded by column free walls of floor-to-ceiling glass.
Renderings are by Studio amd for Macklowe Properties.

● Macklowe Properties
Sotheby’s tapped to close out 737 Park

Developer Macklowe Properties has tapped Sotheby’s International Realty, Inc. to serve as the exclusive sales firm for 737 Park Avenue, the pre-war building that has undergone a complete modernization and architectural restoration.

737 Park
737 Park

Located at the Northeast corner of 71st Street, the condo has over 75 percent of the residences in contract or closed and Sotheby’s International Realty will handle the sales for the remaining residences.
Macklowe selected the same marketing and sales team from Sotheby’s International Realty that was responsible for the successful sellout of another Macklowe project, 150 East 72nd Street.
Allison Koffman, Juliette Janssens and Jackie Rohrbach will immediately transition into this new role as they work to complete the project’s sellout.
“Instrumental to our decision to collaborate with Sotheby’s International Realty was their achievement at 150 East 72nd Street, and we look forward to working with them again,” said Richard Wallgren, executive vice president of sales at Macklowe Properties.

● Alfa Development
Douglas Elliman takes over at Village Green West

Alfa Development has selected Douglas Elliman Development Marketing as the exclusive sales and marketing team at Village Green West, the 27-unit condominium located at 245 West 14th Street in the West Village.

Village Green West
Village Green West

Currently, 70 precent of the residences are in contract. Four full-floor units in the building’s tower, and a penthouse with a private roof top, remain available. A model unit on the 10th floor will soon debut.
“Howard Lorber and I have spoken for years about how our companies could work together,” said Michael Namer, Founder & CEO of Alfa Development. “We are thrilled to have finally found the opportunity to collaborate with this very special building.”
Designed by KBA Architects, Village Green West “offers some of the most unique homes in today’s market,ˮ said Howard M. Lorber, chairman of Douglas Elliman.
He added, “ I believe that, through this partnership, we can achieve great results for the sell-out of this remarkable building.”
The building offers a wide array of amenities, including a Wellness Center, fitness center, sauna, treatment room, coffee bar and a shared green roof terrace with unparalleled views of the skyline.
Targeting LEED Gold certification upon completion, Village Green West prices at tower residences begin at $7,950,000 million. Occupancy is slated for the beginning of 2016.
● Ideal Properties Group
Prospect Heights rentals debut

Ideal Properties Group announced the launch of rentals at The Martha Washington in Prospect Heights.
There are eight one- or two-bedroom rental units available, starting at $2,800 per month and $2,750 per month, respectively.

The Martha Washington
The Martha Washington

“We are pleased to be launching The Martha Washington in such a coveted neighborhood and welcoming new tenants to this recently renovated rental building,” stated Aleksandra Scepanovic, managing director of Ideal Properties Group.
The Martha Washington is located at the crossroads of Grand Army Plaza and Prospect Park, and the residences have just undergone a full renovation, now featuring modern kitchens and bathrooms, along with large living spaces.
They have hardwood flooring throughout, high ceilings, stainless steel appliances, tiled bathrooms and plentiful closet space.


Sterling Town Equities to build new Brooklyn condo

The CPEX Development & Conversion Investment Sales Team has completed the sale of 196 21st Street in Greenwood Heights, Brooklyn.
CPEX sold the site to Sterling Town Equities for $310 per buildable square foot, for a total sale price of $1,550,000.
The property is adjacent to the development site at 186-190 21st Street that CPEX sold earlier this year, also to Sterling Town Equities, for $6 million — a then-record $300 per buildable square foot for the Greenwood Heights/South Slope market.
CPEX’s Development & Conversion Team, consisting of managing Ddirector Sean R. Kelly, Esq. and associates James O’Neill and Sean Sears, represented the seller and procured the purchaser in this transaction.
Zoned R6B with a footprint of 2,500 s/f, 196 21st Street offers a total of 5,000 buildable square feet, and will be combined with the 20,000 buildable square feet from 186-190 21st Street as part of Sterling Town Equities’ plans for a condominium project on the site.
Sterling has completed several successful condo projects in Park Slope, Greenwood Heights, Prospect Heights, and Clinton Hill.


● Foxgate
Foxgate releases second phase of luxury Islip condominiums

Foxgate at Islip, a 184-unit, luxury condominium community in Central Islip, has opened sales for 46 additional two-bedroom residences, now under construction.
The 40 units that comprised Phase I, which are located across a pond from the Phase II residences, sold out in October.

Foxgate at Islip
Foxgate at Islip

The Phase II condominiums come with full-sized appliances, including a natural gas range, refrigerator, microwave, and a washer and dryer.
Each unit is equipped with high-efficiency central air conditioning and clean-burning natural-gas forced-air heating.
On-site amenities encompass a fully-equipped gym, multi-purpose lounge, heated outdoor in-ground pool, spacious patios, and scenic walking paths.
Prices range from $270,000 to $290,000.
Foxgate’s additional plans, pending approval from the Town of Islip, include balconies with panoramic views off the master bedrooms of the upper-level residences, as well as a new location for the clubhouse by the main entrance.
“We anticipated high demand for the Phase I residences, but the speed of sales was extraordinary,” said Michael Puntillo, managing partner of Foxgate and builder of the complex. “We expect that Phase II will sell out equally quickly.”

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