Developed in partnership between JDS Development Group, Property Markets Group, and Spruce Capital, the marketing and sales campaign is expected to commence in September 2018
NEW YORK, July 11, 2018 /PRNewswire/ -- JDS Development Group, Property Markets Group and Spruce Capital, developers of 111 West 57th Street, announced today that Douglas Elliman Development Marketing has been appointed to oversee marketing and sales for the new condominium. The graceful tower, designed by SHoP Architects with interiors by Studio Sofield, will rise to a soaring 1,428 feet when completed. The historic Steinway Hall, originally built in 1923 by the celebrated firm Warren & Wetmore, is currently being reimagined and integrated with the modern new tower as remarkable residences and amenities.
"The design and development team have created a bold new landmark for the Manhattan skyline, and as 111 West 57th Street continues to rise, it surpasses our expectations," said Michael Stern, CEO, JDS Development Group. "We are thrilled to once again work with Douglas Elliman Development Marketing who we feel has the depth of talent and market expertise for this unique offering."
Co-developer and founder of Property Markets Group, Kevin Maloney, said, "With its unrivaled location, genuine architectural pedigree, and perfect symmetry over Central Park, 111 West 57th Street is truly a once-in-a-lifetime opportunity. We look forward to a robust and exciting sales campaign."
Writing for Vanity Fair, famed architecture critic Paul Goldberger referred to the plans for the tower as "quite possibly the most elegant" of the new structures planned for the 57th Street corridor.
The marketing and sales campaign is expected to commence in September 2018, led by sales director Amy Williamson, along with leading Douglas Elliman agents Shari Scharfer-Rollins, Janice Chang, Roger Erickson and Holly Parker.
"As a company, we pride ourselves on our achievements at many of New York City's most ambitious new developments," said Howard M. Lorber, Chairman, Douglas Elliman Realty, LLC. "111 West 57th Street, with its world-class architecture, unparalleled Central Park views, and stunning amenity package makes it one of the most important and unique, sought-after new developments in New York City."
The building's design evokes the quality, materiality and proportions of the historic New York City skyscraper, while taking advantage of the latest technology to push the boundaries of engineering and fabrication. The unique terra-cotta and elegant bronze filigree that clads the east and west façades create a sweeping play on shadow and light while providing incredible texture and richness. A glass curtain wall along the north and south façades will take full advantage of the tower's extensive views of Central Park and Downtown Manhattan.
"With one home per floor, this is a very exclusive offering of only 46 full-floor and duplex tower residences. Each residence features grand proportions and impeccably planned interiors, boasting breathtaking 360-degree views," said Susan de França, President and CEO, Douglas Elliman Development Marketing. "We're eager to start selling and are honored to be working on such a prestigious project."
Interiors include ceiling heights up to 14 feet, expansive floor-to-ceiling windows, central entrance galleries with sweeping, on-axis views to the north and south, white macauba stone floor at entry, and custom details throughout including smoke-gray solid oak floors with intricate pattern in the Great Hall and interior doors with bronze door hardware by P.E. Guerin. The kitchens, designed by Studio Sofield, are handcrafted by Mark Wilkinson for Smallbone of Devizes and available in dark or light hand-rubbed plaster or chateau gray oak finish. Master bathrooms feature walls and floors finished in veined white onyx and Studio Sofield designed bronze fixtures cast by P.E. Guerin. Fourteen singular residences will be available in the landmarked Steinway Hall building.
All residents will enjoy a host of amenities including exclusive concierge service, private porte-cochère entrance on 58th Street, a two-lane 82-foot lap pool with private cabanas, sauna, steam, and treatment rooms, lounge with expansive outdoor terrace, private dining room, chef's catering kitchen, triple-height fitness center, meeting rooms and study.
Occupancy is anticipated in early 2020.
For more information please visit www.111w57.com/ or call (212) 935-5757.
About JDS Development Group
JDS is a real estate development, construction, and acquisition firm based in New York City specializing in raising the bar for luxury residential, hospitality, and mixed-use projects. JDS' team of industry-leading professionals has a wide range of experience and unique expertise in the fields of design and construction, hands-on project management, results-driven sales and marketing, and real estate related financing stemming from experience in development and construction across New York and Miami.
Currently, JDS has more than nine million square feet of property in various stages of development, including the record-setting Walker Tower and Stella Tower, the American Copper Buildings, and The Fitzroy. Through dedication to quality materials, and hard work, JDS projects are crafted to synthesize art, engineering, and ingenuity. The result: quality construction, exceptional living spaces, and carefully considered detailing, harmonizing old and new, classic and modern, and form and function.
About Property Markets Group (PMG)
Property Markets Group (PMG) was founded by Kevin Maloney in 1991 and is a premier real estate investment, development and general construction firm. The company is headquartered in New York with offices in Miami and Chicago. PMG is one of the few remaining full-service, large-scale development companies with staff capable of maneuvering all facets of the development process. With direct hands-on experience in the acquisition, renovation, financing, operation and marketing of commercial and residential real estate, PMG has completed 85 residential buildings in New York, Florida, and Chicago, and over 150 real estate projects throughout the United States.
During its 27-year history, PMG has developed projects across all asset types and distinguished itself by focusing on premier luxury residential properties. Consistently enhancing the luxury experience, PMG is notable for meticulously-designed projects such as Walker Tower, Stella Tower, The Belnord, The Briarcliffe, The Kingsley, Mei Miami Beach and most recently, Echo Aventura, and Echo Brickell in the heart of Miami's financial district. Currently, PMG is in various stages of developing over 5 million square feet of residential property, including 10 Sullivan, Queens Plaza South, Muse Residences, 111 Leroy Street, 548 West 22nd St and numerous other projects throughout New York City, Miami and Chicago.
Additionally, PMG recently launched a multifamily housing portfolio called X Social Communities (XSC) that offers "social living" rental communities to modern professionals seeking a convenient lifestyle at an attainable price point. XSC properties include: the completed 120-unit "X Logan Square" in Chicago; the 464-unit "X Miami" in Downtown Miami, opening in summer 2018; the 99-unit "X University Village" in Chicago, opening spring 2018; the 1,200-unit X Las Olas in Fort Lauderdale, opening early 2020; and the 220-unit "X Union Station" in Denver, opening in 2020.
For more information, visit: http://propertymg.com/.
About Spruce Capital Partners
Spruce Capital Partners, founded in 2007 by Joshua Crane and Robert Schwartz, is a New York City based real estate owner, developer, and investor. The firm and its partners have both acquired and developed a portfolio of assets totaling in excess of $3 billion. Additionally, the partners of Spruce run S3 Capital, one of the most active bridge lenders in New York City. S3 has closed over 250 loans since 2014 totaling over $1 billion. The firm employs a team of experienced industry professionals in construction, finance, underwriting, acquisitions, origination and asset management.
About Douglas Elliman Development Marketing
Douglas Elliman Development Marketing, a branch of Douglas Elliman Real Estate, offers unmatched sales, leasing and marketing expertise for properties throughout New York City, Long Island, Westchester, the Hamptons, Los Angeles, South Florida as well as throughout the United States and internationally. The firm ranks amongst New York City's most prominent sales and marketing firms. Drawing upon decades of experience and market-specific knowledge, the Elliman team offers a multidisciplinary approach that encompasses every aspect of real estate including comprehensive in-house research, product development, marketing and sales, operations, property management, and mortgage financing. Through a strategic global alliance with Knight Frank Residential, the world's largest privately owned property consultancy, the company markets properties to global audiences in 60 countries across six continents. For more information on Douglas Elliman Development Marketing, please visit, https://www.elliman.com/new-developments/marketing.