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Mentioned in this Article:
Stephen G. Kliegerman

Stephen G. Kliegerman
President of Development Marketing

Realestaterama

Harlem New Development Ps90 Receives Tco

By Allison Berger

PS90 CONDOMINIUMS IN HARLEM:

CONSTRUCTION COMPLETE IN HISTORIC RENOVATION

Former NYC Public School Now Luxury Condo Development

New York, NY - August 9, 2010 - (RealEstateRama) — West 147th Associates LLC and Halstead Property Development Marketing today announced that TCO was received last week, construction is now complete and move-ins are slated for later this month, a former school converted into a luxury condominium development in Harlem.

Located at 220 West 148th Street between Frederick Douglass and Adam Clayton Powell Jr. boulevards, PS90 is the redevelopment of a circa 1905 gothic style elementary school into a residential condominium. Originally designed by Charles B. J. Snyder, Superintendent and Chief Architect for New York City public schools from 1891-1922, PS90 is notable for its iconic block-through “H” plan, a design which allows for more windows than typically possible and allowed for the creation of a landscaped front courtyard that frames and leads to a grand front entrance, and a larger landscaped rear courtyard. In addition PS90 has a 14,000 square foot community space that is formerly the school’s auditorium.

As part of the modern re-design, led by architect Mark Ginsberg FAIA, LEED AP, the building’s original exterior was maintained and refurbished in some areas, while the entire infrastructure was newly constructed. The building features original Gothic touches like ornate spires, intricate masonry, elaborate stonework and gargoyles which offset the modern loft-like floor plans. Additionally, a sixth floor was added with the creation of penthouses that feature all new construction and have generously-sized private rooftop terraces, some with midtown Manhattan views.

Sales at PS90 began in September 2009 and the property is among several FHA approved developments in New York City. Qualified buyers will be able to purchase homes at PS90 with a down payment as low as 3.5 percent.

“We are very excited to announce the completion of construction on PS90. From the beginning, the building inspired us with its natural light and great proportions and we wanted to help write the next chapter of PS 90’s long history,” said Lisa Gomez, executive vice president of development at L+M Development Partners Inc.

“The entire team worked to assure the juxtaposition of the building’s historic and modern design elements.”

PS90 features a total of 75 condominium residences in a mix of studio, one, two and three bedroom homes. The units range in size from approximately 762 – 1,630 square feet and in price from $450,000 – $899,000. For more information, please visit: http://ps90condo.com/.

Each unit at PS90 features high ceilings (up to 12 feet), Herringbone pattern European oak floors, Quartzite countertops and custom walnut toned cabinetry, and is equipped with Kitchen Aid stainless steel appliances and thermostatically controlled central air and heat. Several units offer expansive private roof decks ranging in size from 100 to nearly 2,000 square feet with spectacular views of the Hudson River and the New York City skyline. Residents will also enjoy a fitness center, work studio and an elegantly landscaped European-style courtyard.

PS90 is being developed by West 147th Associates LLC, an affiliate of L+ M Development Partners Inc., the same developer who successfully built and marketed the Kalahari, a green conscious building in Harlem. Financing is provided by Goldman Sachs’ Urban Investment Group and the development is being exclusively marketed and sold by Halstead Property Development Marketing.

For renderings and floor plans, please visit http://ps90condo.com/ or contact Allison Berger at allison (at) mediashoppr (dot) com or 212-867-8778 x223.

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 lev el of commitment to our investments in developments, and equally important, to our investment in people.

About the Goldman Sachs Urban Investment Group:
Formed in 2000, The Goldman Sachs Urban Investment Group (UIG) deploys the firm’s capital though investments and loans to help transform distressed communities into sustainable and vibrant neighborhoods of choice and opportunity. By deepening our engagement in communities and strengthening relationships with the public and non-profit sectors, we strive to improve people’s lives and advance a comprehensive community development agenda. To learn more, visit gs.com/uig.

Monday, August 09, 2010