YIMBY has an exclusive look at progress on Vitre, a 21-story, 48-unit residential building under development at 302 East 96th Street, located on the Upper East Side. The latest building permits indicate the project, now up to the sixth floor, will encompass 75,887 square feet and rise 210 feet to its rooftop.
JDS Development and its partners New Valley and Ackerman Development launched sales for Monad Terrace at a cocktail soiree last week.
The 59-unit luxury condo project, at 1300 Monad Terrace, marks the first in Miami for architect Jean Nouvel. Douglas Elliman is handling sales for Monad Terrace, which is also registered in New York. New Valley, Ackerman Development and Mink Development are also partners on the project.
New York developer Michael Stern is making his first entry into Miami Beach.
Stern’s JDS Development is officially launching sales for Monad Terrace, a 59-unit luxury condo building designed by Pritzker Prize winning architect Jean Nouvel. It’s slated to be delivered in two years, Stern told The Real Deal.
Wonder Works Construction’s development arm, in partnership with Fimida Enterprises and Mink Development, got the green light to sell condominium units at its Upper East Side project at 302 East 96th Street.
A new mixed-use condominium project is gearing up at 302 East 96th Street on the Upper East Side. Wonder Works Construction is partnering with Fimida Enterprises and Mink Development to develop a 21-story condo tower just steps away from the soon-to-open Second Avenue Subway. The 75,000 square foot project is replacing an old 3-story parking garage and excavation at the site is already well underway. Its Yorkvillelocation between First and Second avenues will be around the corner from the new line's 96th Street station.
Miami Beach officials will consider plans for a 53-unit condo designed by Jean Nouvel, a winner of architecture’s highest honor in the Pritzker Prize.
The project would go on the 1.62-acre site at 1300 Monad Terrace. Starting in 2015, a developer purchased 14 homes there for a combined $51.15 million to control the entire block between Biscayne Bay and West Avenue.
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Mink Development received a $30 million first mortgage loan provided by Madison Realty Capital to finance the redevelopment of the Vanderbilt Mansion at 39 East 72nd Street, a 13,310 square feet, five-story landmarked townhouse located in the Upper East Side.
Mink Development's Daniel Minkowitz and partners purchased the landmarked property in April 2014 for $19 million. With the new financing in place, the developers plan to retire the existing loan and complete construction to convert the property into a new seven-story, 18,412 square-foot super luxury condominium with three high end residential condominium units featuring private access, high ceilings and outdoor space.
"We have pulled permits and the project is expected to be completed within 18 months," said Minkowitz, who said each unit will span between 5,000 to 6000 square feet. According to Minkowitz, the projected total sellout of the development is north of $70 million. "We expect the units to come market this summer with a swift sellout expected."
The property, which was partially occupied at the time of the borrower's original purchase, has since been vacated and approved for redevelopment from the Department of Buildings and the Landmarks Preservation Commission. The renovation plans will restore the historic character of the building while modernizing the space to provide finishes typically found in the New York luxury condominium market. The project has been designed on its exterior and interior by hall of fame Cetra Ruddy Architects.
The 19th century Neo-Greco style property is a mid-block site located on the north side of the street between Madison Avenue and Park Avenue, in what is considered one of the most affluent residential neighborhoods in the country. The neighborhood is famous for its classic architecture, world-class shopping and restaurants, and plays host to a variety of cultural institutions.
Mink Development, founded by Daniel Minkowitz, is a real estate development and acquisition firm based in New York City and Miami, Fla, that specializes in setting a new paradigm of luxury residential, hospitality and mixed-use projects. Currently, Mink Development has over $300 million worth of real estate in development both in New York City and Miami Beach, a number that is quickly growing to over $500 million in the next few years.
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