“A lot of these new developments are marketed toward sophisticated, well-to-do buyers, and those people may not want to be living with first-time homebuyers, who tend to be more transient,” said new development sales exec Robin Schneiderman of Halstead Property Development Marketing, who is marketing a new condo building with very limited studio inventory at 51 Jay St. in Dumbo.
Read More: http://www.nydailynews.com/life-style/real-estate/market-forces-driving-studio-apts-extinction-article-1.2104972
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
Read More: http://www.rew-online.com/2014/11/18/new-development-activity-in-hells-kitchen-nomad/
“540West has resonated with buyers who appreciate its quality, the fiber of the neighborhood and the fact that they can close within 100 days,” says Stephen McArdle, senior managing director of Halstead Property Development Marketing, which is exclusively handling sales and marketing at 540West. “The remaining units will not stay long on the market for long.”
Read More: http://www.multihousingnews.com/news/northeast/540west-in-new-yorks-hells-kitchen-is-80-percent-sold/1004109838.html
HELL’S KITCHEN—Fortis Property Group’s and Wonder Works Construction’s540West, a 110-unit condo building on West 49th Street is now at 80 percent sold. The development, which hit 50 percent back in June, is slated for ready for move-ins in January. [CurbedWire Inbox; previously]
Read More: http://ny.curbed.com/archives/2014/10/27/540west_80_percent_sold_hawthorn_park_50_percent_leased.php