New York, NY – May 5, 2011 – (RealEstateRama) — Halstead Property Development Marketing and West 147th Street Associates LLC today announced that more than 70% of the units are closed or under contract at PS90, a premier residential development in Harlem.
Closings and move-ins initially began in September 2010 and have remained steady at PS90, which is located at 220 West 148th Street and where immediate occupancy is available.
PS90 is a redevelopment of a circa 1905 elementary school and features a total of 75 residences in a mix of studio, one, two and three-bedroom homes. This unique, award-winning property features spacious layouts, Manhattan views, custom kitchens and spa-like bathrooms. Penthouses feature generously-sized terraces. The remaining 22 units on the market range from approximately 762 to 1,579 square feet in size and between $475,000 to $879,000 in price. For more information, please visit: (www.ps90condo.com).
A testament to the development’s distinctive qualities, the New York Landmarks Conservancy (www.nylandmarks.org) recently named PS90 a Lucy G. Moses Preservation Award winner. The Moses awards recognize property owners, builders, architects, artisans and designers who renew the beauty and utility of New York City’s distinctive architecture — the Conservancy’s highest honor.
“We continue to reap the benefits of a growing Harlem real estate market here at PS90,” said, Lisa Gomez, executive vice president of development at L+M Development Partners, Inc., the lead developer of PS90. “We are excited to reach this sales benchmark as buyers are seeing the long-term value in these homes and our redevelopment efforts are simultaneously being recognized for the value they bring to the city as a whole.”
All homes at PS90 feature herringbone pattern oak flooring, central air and heat and Bosch washers and dryers. Custom-designed kitchens include stainless steel appliances, under-mount sinks with disposals, walnut toned wood cabinets and pantries, Quartzite countertops and backsplashes and under-counter microwaves in the islands. Bathrooms feature grey staggered bond mosaic walls and floors, honed Palmira tiled bath and shower walls, custom tubs and separate showers with oversized rain shower heads with wands, charcoal grey vanities with integrated sinks and dramatic recessed lighting coves.
PS90 residents enjoy amenities such as a fitness room, an attended lobby, a landscaped European-style garden terrace courtyard, common lounge, work studio, media room, storage lockers and bicycle room. In addition, many homes include private terraces ranging in size from 100 to nearly 1,000 square feet.
PS90 is being developed by L+M Development Partners Inc., financing is provided by Goldman Sachs’ Urban Investment Group and Wells Fargo N.A. The development is exclusively marketed and sold by Halstead Property Development Marketing. For more renderings, photos or more information, please contact Nicole Amato at Nicole (at) mediashoppr (dot) com or 212-867-8778 x226.
About Halstead Property Development Marketing:
Halstead Property Development Marketing is the exclusive sales and marketing firm for numerous new developments in the tri-state area. They consult with developers on every aspect of the development process, including: pre-development planning such as comprehensive market research, detailed unit mix and layout analysis and amenities planning, all of which enables their clients to maximize sales prices, increase absorption rates and provide an overall superior product benefiting the consumer and developer. In addition, the division directs and coordinates the selection of all on-site personnel, conducts extensive sales training and monitoring, designs exceptional sales environments, and creates integrated communications planning including marketing, advertising, public relations and branding. For more information on the Halstead Property Development Marketing Division, please visit: http://www.HalsteadPDM.com/.
About L+M Development Partners:
Since 1984, L+M Development Partners has been an innovator in developing quality affordable, mixed-income and market rate housing, while improving the neighborhoods in which we work. A full-service firm, L+M works from conception to completion, handling development, construction and management with creativity that leads our industry. We are responsible for more than $2 billion in development and construction and have created more than 10,000 high-quality units in the tri-state area alone. Community leaders, government officials and investment organizations turn to L+M because of our consistent track record of excellence. L+M is a double bottom line company, where our success is measured not only in financial returns but also by the positive impact we make. We take pride in our long-standing dedication to the communities we serve, demonstrated through an annual scholarship fund, job training programs and substantial support for local nonprofits. L+M brings a superior level of commitment to our investments in developments, and equally important, to our investment in people.
About Goldman Sachs Group, Inc.
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
Goldman Sachs established the Urban Investment Group (UIG) in 2001 to deploy the firm’s capital by making investments and loans through comprehensive community development platforms that benefit underserved communities in the United States. UIG has committed more than $1.3 billion, facilitating the creation and preservation of approximately 9,100 housing units – 75% of which are affordable to low, moderate and middle-income families – as well as over 730,000 sq. ft. of community facility space and approximately 900,000 sq. ft. of commercial and retail space. To learn more about UIG, visit www.gs.com/uig.
