Real Estate Weekly: 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

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Real Estate Weekly: 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.

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The Real Deal: Luxe developers packing more into less

“The average price per square foot is getting high, so in order to assuage that, given the fact that land is so expensive and the cost of construction is expensive, we’re advising our clients to make more efficient apartments,” said Stephen Kliegerman, president of Halstead Property Development Marketing. – See more at:

Real Estate Weekly: Developer blazing a trail among Chinese investors

Rendering of the Oosten development

XIN Development, the U.S. arm of Xinyuan Real Estate, is a bit of an anomaly among the growing ranks of Chinese real estate investors in New York.

While its peers rely on joint ventures with local developers when they build in the states, XIN finances and builds its projects by itself.

Most of its executives aren’t Chinese and some don’t even speak the language. And while Chinese buyers have shown a disproportionate interest in Manhattan’s trophy towers, XIN chose Williamsburg as the site of its first major U.S. project.

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Curbed: Oosten Is Rising Quickly on the Williamsburg Waterfront

Brownstoner headed over the Oosten site, where the enormous luxury condo development designed by Dutch architect Piet Boon has already reached three stories (of an eventual seven). That’s pretty quick progress, as the project, the first ground-up American one from Chinese megadeveloperXinyuan Real Estate Company, was conceptualized only about eight months ago, and launched sales in September. (Units start at $710,000.) When finished, Oosten will boast 216 apartments, an underground swimming pool, and rooftop reflecting pool, as well as a 13,860-square-foot landscaped courtyard that you can see the beginnings of above.

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Curbed: 21W20 Sales Update

The nine floor-through 2BR/2BA apartments at Gale International’s 21 West 20th Street are now sold out, paving the way for the release of the development’s four pricey penthouse apartments. The apartments prices ranged from $2.5 million to $3.1 million, considerably less pricey than the penthouses, which will ask between $12 million and $23 million when they enter the market in February.

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Brownstoner: Floors Rising at the Oosten in South Williamsburg, Balconies and Brick Next Door

429 kent avenue oosten 1 williamsburg 112014

Three stories have risen above ground so far at the Oosten, the Dutch-designed and Chinese-developed condo complex at 429 Kent Avenue in South Williamsburg. Looking into the huge construction site between South 8th and South 11th streets, we could see the building taking shape around what will eventually become a landscaped inner courtyard.

The condos debuted in September with prices ranging from a one-bedroom asking $710,000 to four-bedroom, 3.5-bath townhouses for $3,635,000.

Meanwhile, next door at 431 Kent, the eight-building Hasidic development now has balconies and light-colored brick installed on its facades.

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