Second Phase of New Luxury High-Rise Launches; Units Offer Superior Light and Views
NEW YORK, NY – April 20, 2011 – (RealEstateRama) — Halstead Property Development Marketing today announced the launch of the second phase of sales at The Gateway Tower (www.thegatewaytower.com), a luxury high-rise condominium located on Fredrick Douglass Boulevard’s “Gold Coast” in West Harlem.
Developed by The Gaetano Development Corp., The Gateway Tower is located at 2098 Frederick Douglass Boulevard between 113th and 114th Streets. The second phase of sales includes the addition of 55 residences and seven new stories on top of the original building, which is now an 88-unit, 11-story residential development. The first phase of sales launched in 2005 and is completely sold out and occupied.
“The Gateway Tower is one of only a few high-rises in the area, which affords buyers breathtaking, unobstructed views,” said Stephen G. Kliegerman, executive director of Halstead Property Development Marketing. “In addition to the amenities and finishes, this extraordinary building features flexibility to work with buyers interested in combining units – whether vertically or horizontally – to create larger units with up to 2,600 square feet of space.”
Construction began on the second phase in June 2010 and was just completed last month. Immediate occupancy is available for the new residences, which are FHA-approved and are a mix of one- to five-bedroom homes ranging from approximately 559 to 2,600 square feet in size to between $420,000 and $2,285,000 in price.
Billy Procida, founder and president of specialty real estate, investment banking and turnaround management firm William Procida Inc. (WPI), served as investment banker and advisor to the project.
“Billy’s professional acumen, market experience and foresight are unprecedented,” said Steve Gaetano, CEO of The Gaetano Development Corp. “Without him, this project would not have turned into such a success.”
Homes at The Gateway Tower feature hardwood floors, large, open kitchens with maple cabinetry and stainless-steel appliances. In addition, residences include Bosch washers and dryers and bathrooms feature Crema-Marfil marble baths with vanity sinks. All units on floors six through 11 also feature private terraces or balconies.
Amenities at The Gateway Tower include a fitness center with a sauna and men’s and women’s locker rooms, a landscaped common patio garden, a community room, and 24-hour doorman attended lobby, as well as a live-in superintendent. Residents will also enjoy inspiring views of Morningside Park and Central Park from an enticing common roof deck that soars above low-rise West Harlem. Private storage will also be available at low rental rates.
The Gateway Tower is a few short blocks from Central Park, Morningside Park, Columbia University and the Cathedral of St. John the Divine. The neighborhood is home to numerous trendy shops and restaurants including Melba’s, The 5 and Diamond, Society Café, Miss Mamie’s Spoonbread Too, MODSquad Cycles, and Organic Forever; and is near five subway and seven bus lines.
The development is being exclusively marketed and sold by Halstead Property Development Marketing. Norman Horowitz, executive vice president of Halstead Property LLC, is spearheading sales for The Gateway Tower. For photos and floor plans, please visit www.thegatewaytower.com or for more information, 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 The Gaetano Development Corp.
The Gaetano Development Corp. (GDC) is a small family owned real estate development firm with offices in Manhattan and Westchester. GDC has been developing in the Harlem area for the past 12 years completing over 300 rental and luxury condominium apartments. The principles are Steven Gaetano, a registered architect who performs the design work for the firm, Michael Gaetano the CFO in charge of financing and sales and Matthew Gaetano the President who performs all the construction. Lore Gaetano, a licensed real estate broker, manages the completed buildings under her firm, Manhattan Property Managers Realty Corp.
About William Procida Inc. (WPI)
Based in Englewood Cliffs, N.J., William Procida Inc. (WPI) was founded in 1995 by William Procida. The firm specializes in due diligence, asset management, restructuring, interim development, project evaluation and loan sale, and is a direct investor and lender. Recent assignments include GMAC Mortgage Group, Metro Homes and Ritchie Capital. In March 2008, WPI sold its interest in Palisades Financial, which it founded in 2000 as a majority shareholder; Palisades formed and managed two highly successful private equity funds.
For 29 years, Procida has been a fixture on the Tristate-area real estate scene, building over $1B in projects and financing more than $2B in properties. In addition to being a media commentator, with frequent appearances on CNBC and Fox Business, he has won the Associated Builders and Owners of Greater New York’s “Developer of the Year Award” and National Association of Home Builders Multi-Housing Division and Multi-Housing News’ “Pillar of the Industry Award” for Best Affordable Project in the United States.
