540West in New York’s Hell’s Kitchen is 80 Percent Sold

By Joshua Ayers, Senior Editor

New York—Fortis Property Group and Wonder Works Construction Corp. have announced that the Hell’s Kitchen development, 540West, is now 80 percent sold. The new development adds 110 condominium units to the neighborhood and is expected to begin occupancy in January 2015.

“From the beginning of this project, we envisioned bringing an elevated living experience to Hell’s Kitchen,” says Jonathan Landau, CEO of Fortis Property Group. “540West delivers an attainable living option without compromising on quality or design. There is no other new construction residential project like it in the neighborhood, as evidenced by the record-breaking prices we’re achieving, including a $2,300 per square foot penthouse sale.”

The project was designed by Perkins Eastman Architects PC affiliate, S9, and is made up of two interconnected seven-story buildings, dubbed the North and South Towers, the latter of which is already sold out. The buildings are comprised of a mix of studio, one- and two-bedroom apartments, as well as duplex and penthouse units that range in size from 501 to 1,625 square feet. Prices for the remaining units—three expansive duplexes and four penthouses—start at $735,000 with penthouses topping out the range at $3.575 million.

The remaining units include private roof terraces and a premium appliance package in addition to access to the developments assortment of amenities.  Those amenities include a fitness center, a lobby lounge with fireplace, two landscaped roof decks, bike storage, individual storage units, a pet spa, an outdoor lounge, movie viewing areas and a 6,000 square-foot central courtyard that includes a reflecting pool. The property will also have a 24-hour doorman.

“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.”