NEW YORK, NY – January 30, 2012 – (RealEstateRama) — Halstead Property Development Marketing and West 147th Street Associates LLC, an affiliate of L+M Development Partners, Inc., today announced that all units at PS90, a premier residential development in Harlem, have been sold.
Located at 220 West 148th Street, PS90 is a re-development of a circa 1905 elementary school, which is a mix of studio, one-, two-, and three-bedroom units ranging in size from 760 – 1,630 square feet and in price from $425,000 – $899,000. The sell out comes after a steady stream of sales, which initially launched at the end of 2009 by Halstead Property Development Marketing.
“We are extremely proud to reach a successful conclusion at PS90,” said Lisa Gomez, executive vice president of development at L+M Development Partners, Inc. “Buyers were drawn to the development for its unique design and value from the start, and we thank our sales and marketing team at Halstead Property Development Marketing for their hard work in strategically executing the sales process.”
PS90 is a unique, award-winning property highlighted by spacious layouts, Manhattan views, custom kitchens and spa-like bathrooms. Penthouses feature generously-sized rooftop terraces. The homes are built with 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, as well as under-counter microwaves in the islands. Bathrooms are accentuated by 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.
“From the quality of the design to the high-end finishes and the generous amenities, buyers clearly recognized the value in purchasing a home at PS90,” said Stephen G. Kliegerman, president of Halstead Property Development Marketing. “The development’s value will only increase over time as this Harlem neighborhood continues to flourish.”
PS90 residents also 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 a bicycle room.
PS90 was developed by West 147th Associates LLC, an affiliate of L+M Development Partners Inc., financing was provided by Goldman Sachs’ Urban Investment Group, and the development was exclusively marketed and sold by Halstead Property Development Marketing.
About Halstead Property Development Marketing:
Halstead Property Development Marketing is the exclusive sales and marketing firm for numerous new developments in New York and New Jersey. 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 enable 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. For more information about L+M Development Partners, please visit: http://www.lmdevpartners.com/.
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 London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
Established in 2001, the Urban Investment Group deploys the firm’s capital by making investments and loans that benefit urban communities. Through its comprehensive community development platform, UIG is a catalyst in the revitalization of underserved neighborhoods. UIG has committed more than $1.6 billion, facilitating the creation and preservation of approximately 10,500 housing units – 75% of which are affordable to low, moderate and middle-income families – as well as over 1,000,000 square feet of community facility space and approximately 1,200,000 square feet of commercial and retail space. UIG is part of The Goldman Sachs Group, Inc. (NYSE: GS). To learn more about UIG, visit www.gs.com/uig.
