New Construction Update: Atelier 635 West 42nd St.

Immediate occupancy in new construction at Atelier at 635 West 42nd St. A 46-story tower designed by Costas Kondylis to reflect the bow of a great ship docked along the Hudson River.

The building contains 478 studio to 2-bedroom apartments. The apartments feature extrodinary kitchens with stainless steel Sub-Zero glass door refrigerators, top-tier energy-efficient Bosche and miele appliances, including large washer dryer in every home.

Many apartments feature Hudson river views.

Atelier Amenities include full basketball and volleyball courts, sky lounge with rooftop billiards, landscaped sun deck, fitness and yoga center, indoor swimming pool, a parking garage, health club, sauna, and rooftop lounge. ,

Courtesy shuttle buses run back and fourth across 42nd street every half hour. Current available apartments range from $775,000 for a 1 bedroom to $4 million for a 4 bedroom penthouse.

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New Construction Update: Adagio 243 W.60th St.

There are still some loft residences available at The Adagio, a 9-story residential condominium building with 41 units at 243 West 60th Street.

West End Development is the developer. H. Thomas O'Hara is the architect and Andres Escobar has designed the interior spaces.

The Adagio, a boutique condominium features interiors with Brazilian hardwood floors with windows to 11' ceilings, with fireplaces and terraces in select residences. Custom designed Allmilmo kitchens feature Makassar cabinetry, Caesar stone countertops, Dornbracht fixtures, Sub-Zero, Bosch, Miele and Gaggenau appliances. Spa-like baths with a Zuma soaking tub set in Statuary Venatino marble, Thassos marble walls, Wenge vanities, radiant-heated limestone floors, and large rainforest showers.

Building Amenities include a full time doorman, garage, garden; pool, laundry room and a common storage room.

Current available units range in price from $1.3 million for a 1 bedroom 1.5 bath 1023 square foot loft to a 2 bedroom 2.5 bath 1787 square foot loft home for $2.9M.

To receive available listings at Adagio or any new development in Manhattan click here.

New Construction:The Centurion- 33 West 56th St.

Sales have begun at The Centurion a new luxury 19 story condominium in midtown west.

The world's first residential residence designed by renowned architects I.M. Pei and son Sandi Pei.

The Centurion will be the first residential project in Manhattan by I.M. Pei in decades. Among other projects in Manhattan, he has designed the Four Seasons Hotel, The Jacob Javits Center and the Kips Bay Towers complex.

The building is crafted entirely of the finest French limestone. The entire faade rests on a base of dark gray Jet Mist granite. Formed by a succession of setbacks and a symmetrical arrangement of five double-height windows.

The 48 condominium residences offer 1, 2, 3, and 4 bedroom apartments ranging in size from 750 to 3400 square feet with prices ranging from $2,800,000 to $12,000,000.

The building features a 24-hour attended garage, private fitness center, and an On-Premise Resident's Personal Assistant.

The rear of the building will have a courtyard with waterfall.
Occupancy is expected for January 2009.

The Centurion will be the first residential project in Manhattan by I.M. Pei in decades. Among other projects in Manhattan, he has designed the Four Seasons Hotel, The Jacob Javits Center and the Kips Bay Towers complex.

To receive current listings at The Centurion or any new development in Manhattan click here.

New Construction: The Brompton 205 East 85th

Sales are underway at The Brompton a new 22 story luxury condominium building going up on east 85th Street.

Designed by Robert A.M. Stern architects, LLP. The Brompton's architecture is Gothic-inspired with red brick and limestone facade.

The Brompton is registered with the US Green building council and is anticipating LEED silver certification, the benchmark for high performance green building which encompass energy efficient, sustainable building materials.

The 190 apartments range from a 550 square foot studio for $940,000 to a 5 bedroom 4513 square foot triplex townhouse for $7,950,000.

Amenities include an Equinox fitness center, residents lounge with garden and a children's playroom. The apartments come with washer/dryers. The Related companies is the developer. Occupancy is expected Fall 2008.

To receive current listings at The Brompton or any new development in Manhattan click here.

Mayor Announces Construction Safety Reforms

Legislation Will Transform Buildings Department Oversight of Construction Sites and Expand Enforcement Powers

Mayor Bloomberg and city officials, with the support of construction developers, contractors and organized labor, announced an aggressive legislative agenda that will equip the Buildings Department with additional oversight and enforcement powers to further the safety of New Yorkers and construction workers. Last week a crane collapsed on the Upper East Side.

The centerpiece of this comprehensive safety agenda focuses on the highest-risk construction operations by requiring new oversight of general contractors and concrete and demolition operations. Once enacted, the legislation announced today would make it mandatory for all general contractors and concrete and demolition subcontractors to obtain a safety control number through the Buildings Department before conducting any work that requires a permit. Contractors with unacceptable safety records will have their safety control number suspended or revoked, halting them from doing business if they repeatedly violate the law and put New Yorkers at risk

"The industry has an obligation to work with the Mayor to do everything that is humanly possible to protect the public and our own construction workers," said Steve Spinola, President of the Real Estate Board of New York. "The steps announced by the Mayor today will have an immediate and long term impact as it relates to construction safety. The tragic recent events demand our full support for additional training, accountability and professional oversight when necessary."

For complete legislation agenda: press release

New Construction Update: Chelsea

Prima

130 West 20th Street

Sales are underway at the 36 unit, 14-story luxury condo. The building will have one-two and three bedroom apartments ranging from 555 to 1860 square feet.

Building amenities include: Concierge, lounge and media room with wet bar, tranquility garden, individual storage units. Apartments are pre-wired for Verizon FIOS. The building is designed by H. Thomas O'Hara.

Current available units range from $700,000 for a 555 square foot one bedroom to $2,100,000 for a two bedroom two bath 1385 square foot penthouse. Occupancy is planned for Spring 2009. Prudential Douglas Elliman is the exclusive marketing agent. http://www.primachelsea.com/

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Yves, 166 West 18th Street, Chelsea

Occupancy is expected for Spring 2008 at the new 14 story, 41 unit luxury condo at Seventh Avenue and 18th Street in Chelsea.

The name of the building is Yves, although it is designed by Ismael Leyva architects and not Yves St. Laurent.

The building has one to four bedroom apartments and penthouses ranging from 700 square feet to 3500 square feet. Prices started at $950,000.

Current available units are 2 bedrooms from $1.8M to a 4 bedroom 4.5 bath penthouse for $8.5M

Building amenities include a fitness center, spa, landscaped roof deck and indoor pool. Sales and marketing is being handled by Cantor Pecorella.

http://www.yveschelsea.com/

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The 505 West. 47th St. - Hells Kitchen

New Construction in Hells Kitchen:

Sales are expected to begin soon at the new 109 unit luxury condominium developed by the Lev group.

The 505 is a collection of 26 studios, 59 one-bedrooms, 12 two-bedrooms, and 12 penthouses in the heart of Hell's Kitchen. Half the units feature terraces, balconies or private roof terraces.

Prices range from only $399,000 for studios to $1.1 - $1.4 million for penthouses with roof terraces.

For more information or to receive listings of Manhattan new developments click here.

Twenty9th Park Madison - New Development

Sales are underway at the new luxury condo in Murray Hill. The building will be completed in late 2008.

Situated between Madison Avenue and Park Avenue South, Twenty 9th Park Madison will consist of 142 units with apartments ranging from mid $600K for a studio to $4M+ three bedroom residences.

The shimmering glass exterior of the 34-story building will sit atop a dazzling double-height, cubed-glass entrance, creating a dramatic illuminating effect as cascading sunlight and moonlight stream through.

Amenities at Twenty 9th Park Madison include an underground parking garage, awe-inspiring views of The Empire State Building and the city skyline, state-of-the-art fitness center and yoga room, 24-hour concierge, refrigerated storage, an espresso bar in the lobby and a roof deck lounge complete with barbeques and plush seating among an oasis of greenery.

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West Village - New Construction - 166 Perry Street

A new 24 unit residential condominium is being constructed at 166 Perry Street in the West Village.

Apartment prices at 166 Perry Street range from an 1,126 square foot one bedroom, one-and-a-half bath starting at $1,195,000 to $11,500,000 for a three-bedroom, three-and-a-half bath duplex penthouse with two fireplaces, 3,415 square feet of interior space, and 1,225 square feet of terraces including a 109-square-foot lap pool.

The 8-story building at 166 Perry Street will have a setback at the 6th floor and the glass cornice drops down two stories at the building's east and west sides.

All apartments are corner apartments. The building has a fitness center, 24-hour doorman and concierge services, private storage facilities, and room service and pantry stocking services provided by Jean-George Vongerichten's Perry Street restaurant.

The buildings glass facade will have cascading, alternately angled windows and its street entrance features perforated metal scrim and mechanized single-pane, blue glass doors that lead into a lobby "capsule" with rounded edges, white lacquered walls, silver-leather seating, blue-lacquered concierge desk and polished white concrete flooring with inset brushed-aluminum panels.

Apartment layouts are distinguished by sliding doors and translucent glass bathroom walls. Ceiling heights range from 10 to 12 feet.

The building is scheduled for occupancy in the fall of 2008.

To receive current available listings by email click here.

http://www.166perryst.com/

New Construction Update: Gramercy by Stark

Gramercy Y00 by Stark
340 East 23rd Street

The 207 unit 21-story glass building is 65% sold as of July according to The Real Deal within 2 months of sales. Anticipated completion date is Summer 2008. Architect Gerner Kronic + Valcarel. Designer Philippe Stark is designing the building's interior designer.

Stark designed the interiors for 15 Broad Street, downtown.
Building amenities include: An indoor and outdoor lounge custom designed by Stark, a second floor lounge equipped with a screening room and library which will connect to an outdoor terrace, a fitness room and rooftop cabanas.

Prices range from mid $600,000 for studios, $800,000 's for 1 bedrooms to $3,460,000 for a three bedroom penthouse.

Midtown West: Residential Construction Update

The Platinum

247 West 46th Street

Sales are underway at The Platinum a 43 story condo being constructed in Midtown West.

Unlike the recently completed The Link at 310 West 52nd Street that marketed the "Hells Kitchen" lifestyle, The Platinum is being marketed as the "cutting edge" building in Midtown West.

Hells Kitchen, Midtown West, Clinton, The Theatre District, The Great White Way, Restaurant Row, whatever you want to call it - it is a vibrant hot neighborhood convenient to all.

The 43 floors will have 220 apartments. Amenities include "The Zone" a full floor of unique lifestyle amenities including the Q lounge with billiard tables, spa lounge a retreat featuring a water wall, fitness center, golf stimulator , experimental shower, treatment room, outdoor terrace, cabana lounge seating with a misting area for warm days. There is even a dog walk - so you don't have to leave the building to walk your dog.

The lobby's floating island surrounded by a moat of moving water also features a 26 foot long fireplace. Completion of the building is expected by summer of 2008.

One Bedroom prices start at $900,000. One bedroom with 1.5 baths start at $1,045,000. Two bedroom 2.5 baths start at $1,660,000. Three Bedroom PH is $7,500,000.

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Kitchens and Baths: What's Hot and What's Not

In new luxury condos going up throughout the city, the latest trend is subtelty. Large spaces with quiet, subtle luxury is being seen in the newer condo projects.

Designers are creating kitchens that conceal major appliances. Flaunting appliances such as the Sub-Zero, the Viking, the Wolf are out. Today many buyers are looking for kitchens to be more sleek and concealed they don't want to see appliances anymore.

Many of the new condos are featuring kitchens that look like a built -in-piece of furniture; dishwashers are covered, refrigerators are covered.

Instead of traditional ovens, many condos have flat, sleek oven tops. Sleek (and often smaller) appliances with brand names like Fisher & Paykel, Liebherr, Gaggenau, Miele and Bosch are starting to replace the commercial style appliances like Viking and Wolf.

The right appliances or combination of appliances has become the new status symbol. Granite and marble is out, stainless steel is out, quartz resin and glass are in.

Out are kitchens that are un usable without counter space. Appliances are getting smaller, kitchens are not.

Environmentally friendly materials are being used such as teak-faced cabnitetry and lava stone countertops. Green is the new wave in design. Granite and marble was the standard for kitchens and baths a few years ago.

The trend is lots of glass, mosaics, ceramics and porcelains. At Loft 25, an industrial conversion at 420 West 25th Street in Chelsea the 79 units feature custom Schiffini glass kitchens. Everything is glass, the countertops, the cabinet doors are glass, the refrigerators are built-in and hidden behind glass panels.

Larger sexy bathrooms are a trend. At loft 25 Master baths are 150 square feet with generous showers and no bathtubs just enormous showers with multiple rain shower heads, that don't have doors. Spa-like bathrooms. Some buyers need a tub but many do not. Some of the new bathrooms are very large that have separate compartments for the toilet, double vanities or extra large deep single sinks and large oversized showers.

Available units at Loft 25 from $800,000 - $2,650,000

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Upper West Side Residential Update

UWS News: Rezoning Battle

The Department of City Planning is proposing the first comprehensive rezoning of the Upper West Side in almost 50 years. The battle mostly started by the Ariel Condominiums - two 30 plus story towers currently rising on Broadway between 99th and 100th streets. The buildings have led to some neighborhood opposition because of their height. The rezoning calls for height limits on new construction that would see most future developments rise less than half the height of Ariel Towers, the New York Sun and The Real Deal reported.

New Construction Update:

165 West 86th St. A 21-story residential building is being erected ajoining the West Park Presbyterian Church. The project will have separate entrances for its 50 affordable studio rentals on floors five through 10, and its 27 market-rate condominiums on floors 11 through 21. Some community members are saying the separate entrances will create "segregation" in the building.

215 West 88th St, Merrion Condominiums
Sales have begun for the condominium conversion of a 13-story, 96 unit prewar rental building. The project will include two new construction penthouses with private outdoor space. One to four bedroom apartments are priced from $714,000 to $2.738 million and range in size from 766 to 3,647 square feet.

2112 Broadway The Apple Bank Building

Nineteen of the 29 units are sold. Some units are already occupied. The ten available units comprise five-top-floor duplexs, four three-bedrooms and one four-bedroom. They range in size from 1,967 to 3,256 square feet, and are priced from $3.35 to $7.65 million

230 West 78th Street Linden 78
Three and Four bedroom condominiums are for sale pre-construction prices starting from $2,495,000 and full floor residences priced from $6,350,000.

205 West 76th Street The Harrison
Sales will begin this summer for The Harrison a new luxury condominium in the heart of The Upper West side. The two twin tower complex will offer studios, 1,2 & 3 bedrooms starting around $700,000. An Equinox Gym is in the building and membership is included in the common charges.

Several other new projects are slated for the Upper West Side. To receive listings on current new devolpments and future projects click here.

New Residential Developments in Chelsea

Chelsea
Chelsea Modern
447 West 18th Street
12- story, 47-unit condominium designed by Audrey Matlock. Prices for available units range from $1.63 million for a 1,300- square foot two-bedroom to $3.57 million for a 1,887- square foot three bedroom. Occupancy is scheduled for early 2008

Chelsea
459 West 18th Street
11-story condominium designed by Della Valle Bernheimer Architects. Occupancy of the full floor residences and multi-floored penthouses is sceduled for spring 2008

To receiveve listings by email for these or any other Manhattan new development click here.

New Development Resales: A Real Good Deal

If you're looking for new construction you might save thousands of dollars by buying a resale in a brand new building. When a buyer purchases a condo or coop in a new development directly from the sponsor(developer)the buyer is usually required to pay New York City and New York State transfer tax.

When buying from a sponsor in a coop,(unsold shares) the transfer tax is not only the amount of the sale price but the portion of the underlying mortgage allocated to the shares associated with the unit being purchased.

In resales seller's pay transfer taxes. NYC transfer tax is 1.425% of sale price above $500,000.

New buildings usually start selling pre-construction about 2 years before the the building is ready for occupancy and the units close. Often the best lines sell out early. By the time the building opens there are usually a few resales. Either units never lived in purchased by flippers or a unit that might be for sale because of personal reasons.

If you missed out on a building you like during pre-construction sales buying one of the first resales in a new development has some advantages. In addition to not paying transfer taxes and other possible sponsor related closing costs you can have more instant gratification. You get to physically see the apartment, the fixures and the view in person. In pre construction you buy off a floor plan and brochures.You don't always get to see the building or the apartment you are purchasing. You don't have to tie up your 10%-15% deposit for a year or more.

Interested in New construction consider the advantages of a resale. If you would like to receive new construction listings by email including resales click here.