By Andie Lowenstein, Associate Editor
New York—A highly anticipated residential condominium development in Manhattan’s up-and-coming “New Downtown” is 50 percent sold. To celebrate the milestone, the developer hosted an exclusive event allowing brokers to tour the site, see the double-height ceilings, the high-tech curved glass and stunning panoramic views of the New York Harbor, Hudson and East Rivers.
“50 West continues to be well-received in the local and international markets and we’re considered to be a strong value play for new construction high-rise Downtown. Our non-penthouse residences average less than $2,400 per square foot,” said Francis Greenburger, CEO and founder of Time Equities Inc. “Having passed the 50-percent mark, we look forward to topping out the superstructure and finish a sample unit by the end of this summer. Both purchasers and the brokerage community have been especially enthusiastic about 50 West as they see the building rising and the installation of curved glass.”
Upon completion, 50 West will stand at more than 700 feet tall and bring in 191 residences to the Downtown neighborhood. Renowned Danish Interior Designer Thomas Juul-Hansen designed the residential layouts and hand-selected the finish materials.
Homes of 50 West will vary in size from a 1,045-square-foot, one-bedroom to a 9,000-square-foot, five-bedroom duplex penthouse. Ceiling heights will range from 10 feet to more than 22 feet in the double-height living rooms. All units will offer an upscale design for homeowners with kitchens that showcase Miele and SubZero appliances, custom walnut cabinetry and granite slabs along with bathrooms that feature marble vanities, marble floors and rain showers.
50 West’s penthouse collection, The L Series, will include the tower’s full and half-floor residences. L Series homes will highlight breathtaking views, expansive layouts and a display of additional chic finishes, materials and appliances.
Four floors of 50 West are dedicated solely to professionally programmed lifestyle amenities with special attention paid to creating family-friendly amenity spaces.
“50 West is an ideal destination for families, as we thoughtfully designed areas and programming to nurture parents and their children,” said Javier Lattanzio, Time Equities Inc. sales manager of 50 West. “My family and I loved the project so much that we purchased here, and I know my son will have access to spaces that truly set this development apart from the theater to kids studio to professionally-curated library.”
Residents will have exclusive access to a kids’ studio, arts and crafts room, library, theater with stadium seating and children’s playroom. The team consulted with LREI, an esteemed education institution, for the design of the playroom and worked with esteemed literary agents to provide the library with classics and the latest works in children’s literature.
The property includes the ‘Water Club,’ the fitness floor, entertainment floor and the Observatory – a landscaped roof lounge rising 730 feet available to all owners in the building. The Water Club features a 60-foot lap pool, experiential showers, a hot tub, sauna and a steam room. The fitness floor includes state-of-the-art training facilities, spin and yoga studios, a golf simulator, and spa treatment facilities. The entertainment level features a library, lounge and demonstration kitchen with a dining terrace.
Scheduled for occupancy in 2016, 50 West will offer commercial space to the market, office condominiums ranging from 280 to 830 square feet and storage spaces for sale.
Located in the heart of Lower Manhattan, on the corner of West and Rector Streets, 50 West is positioned at the intersection of the World Trade Center, South Street Seaport, Battery Park City, Brookfield Place, Wall Street and Battery Park, and nearby public transportation including the 1, 2, 3, 4, 5, and R lines, PATH and ferries to Staten Island and New Jersey. The planned West Thames Bridge will connect the plaza at 50 West to Battery Park crossing over West Street.
Residence pricing begins at nearly $1.96 million for one-bedroom homes. TEI is managing sales in-house and is led by Roberta Axelrod, director of Condo Sales and Marketing for TEI, and Javier Lattanzio, sales manager at 50 West. The Marketing Directors serves as the project’s sales and marketing consultant.