First Q Sales at Two New York Luxury Condos Reach $99M

By Erika Schnitzer, Associate EditorNew York–Despite the downturn in the housing market, sales for two condominium projects by LCOR, a Berwyn, Penn.-based real estate company, have been exceptionally strong. In the first quarter of 2008, 68 residences in Berwyn’s two New York City properties were sold, representing $99 million in sales.Both properties are now 90 percent sold.Designed by SLCE Architects, the 40-story Chelsea Stratus features 204 one, two- and three-bedroom units, ranging from 827 to 2,263 sq. ft. Located at 101 West 24 St., Chelsea Stratus offers hardwood floors, floor-to-ceiling windows and, in most units, private outdoor terraces or balconies. Amenities include a fitness center, featuring an indoor basketball court, an outdoor garden and a lawn with a patio.Units at Chelsea Stratus first went on sale in April 2007. Prices for the condos range from $975,000 to $1.05 million for one-bedroom, $2.45 million to $3.2 million for two-bedroom units and $4.5 to $4.6 million for three-bedroom units.Berwyn’s other property, the 22-story Charleston located at 225 East 34 St., is comprised of 191 units, most of which include outdoor balconies and terraces. Prices range from $935,000 for one-bedroom units, $1.3 million to $1.54 million for two-bedroom units and $2.75 million for three-bedroom units. The Charleston has a 2,400 sq.-ft. amenities center, including a fitness center, media lounge and dining area with a catering kitchen. A 2,400 sq.-ft. outdoor Zen-like garden—with a waterfall, in-floor lighting and bamboo plants—leads to Club Charleston.Units at the Charleston went on sale in September 2006. Occupancy at the Charleston is immediate and is available in late spring for Chelsea Stratus.