Construction signage is up at Stella Tower at 425 West 50th Street in Hell’s Kitchen.
JDS Development and Property Markets Group are partnering on the 51-unit conversion of a Verizon building. The development will offer one- to three-bedroom condominiums priced from approximately $2 million to more than $10 million, according to the teaser site.
First designed in 1927 by Ralph Walker, the property will be reimagined by Cetra/Ruddy. The developers paid about $20 million for 101,000 square feet of the building in 2011, The Real Deal reported; the apartments will be on the 10th through 17th floors.
Douglas Elliman is marketing the property.