Design and Location Drives Sales; Only 14 Units Remain

NEW YORK, NY – November 2, 2011 – (RealEstateRama) — ADG Langsam and Halstead Property Development Marketing today announced that 75% of the units are sold or under contract at ONE48, a new residential development located at 148 East 24th Street in the Gramercy area of Manhattan.

According to developers, 41 contracts have been signed since the May 2011 launch of sales. Prices were increased at ONE48 shortly after the launch and all units to date have been sold at full asking price. Closings and occupancy are expected to begin in December 2011.

“Sales have been thriving, with an average of eight units sold per month since May,” said Stephen G. Kliegerman, president of Halstead Property Development Marketing. “We are confident that sales will remain steady until we are sold out.”

Located between Lexington and Third Avenues, ONE48 (www.ONE48ny.com) is a 14-story development with 55 units. The remaining 14 homes are comprised of studios and one bedrooms ranging from 453-751 square feet in size and from $599,000 – $899,000 in price. Two of the remaining units, which were just modeled, include: 14C, a high floor, 711-square foot one bedroom, one bath unit with a south facing wall of glass, a balcony and spectacular, wide-open, city views; and 4C, a generous 500-square foot, south facing, alcove studio with a 60-square foot balcony.

“We are extremely pleased with the success of ONE48,” said Perry M. Finkelman, CEO of American Development Group, the developer of ONE48. “Buyers continue to be drawn to the location, the design and the lifestyle ONE48 has to offer.”

All residences at ONE48 are designed with spacious layouts, white oak hardwood floors, large storage closets and floor-to-ceiling windows. Kitchens are appointed with custom, self-closing, white lacquer cabinets accented with quartz stone countertops and glass backsplashes and a deep Vasser sink. Stainless steel appliances include Fisher & Paykel refrigerators and ranges equipped with a warming drawer. Units are also equipped with a Frigidaire dishwasher, a Sharp microwave and a custom beverage/wine rack.

Master bathrooms include custom walnut bath vanities, deep-soaking tubs with oversized rain shower heads, custom mirrors with integrated medicine cabinets and storage cabinets with full-length mirrors. Modern Vasser fixtures and dual flush Vasser commodes are set against imported European porcelain floors and wall tiles.

Building amenities include a state-of-the-art media room with a 63-inch home theater system with surround sound as well as three gaming systems (Wii, Sony Playstation and Xbox), a foosball table and an iPod docking station. ONE48 also features: a high-tech Automotion Parking System; a 24-hour attended lobby and live-in superintendent; a furnished common roof terrace with breathtaking views of the Empire State Building; a built-in barbecue grill and a modern laundry facility. Bike storage facilities are also available.

Situated at the intersection of the three hottest neighborhoods in New York City, ONE48 is closest to the 6, N and R trains at 23rd Street. The neighborhood is crowded with some of the city’s finest restaurants, upscale shopping and trendiest nightspots — from Anthony Bourdain’s Les Halles, Mario Batali’s Eataly and Shake Shack, to Madison Park, the Ace Hotel and, in the Flatiron District, the many floors of ABC Carpet & Home.

ADG Langsam (www.adgorg.com) is the developer of ONE48 and Halstead Property Development Marketing is the exclusive marketing and sales agent. The Boland Group is spearheading sales for ONE48. For photos and floor plans, please visit (www.ONE48ny.com).

Halstead Property Development Marketing
Halstead Property Development Marketing is the exclusive sales and marketing firm for numerous new developments in the tri-state area. We 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 benefitting 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/.

ADG Langsam
ADG Langsam provides a full range of real estate services to plan, build, market, finance and manage New York’s most exclusive and innovative properties. Our strong array of talent, capabilities, and resources give us the flexibility to make projects happen. What’s more, as a full-service leader in the country’s most demanding and sophisticated market, ADG Langsam maintains solid professional relationships within its offices from providing professional management administered by an accredited management organization and having key employees who hold the distinguished Certified Property Management (CPM) designation, to having structural and architectural staff that manage our key business partners throughout the industry. These relationships help ADG Langsam secure preferential status in allowing the firm to build and manage the finest buildings that the team undertakes. For more information, please visit: http://adgorg.com.