Hell’s Kitchen condo conversion Stella Tower is more than 60 percent sold a month after its sales launch.
The 18-story project by JDS Development Group and Property Markets Group has signed contracts for 31 of its 51 residences, with an average price per square foot of $2,000. Some of the apartments are under contract for more than $3,000 per square foot — unprecedented figures for the neighborhood.
Located at 425 West 50th Street, the building was originally designed in 1927 by Ralph Walker and completed in 1930 for the New York Telephone Company. The developers restored the original Art Deco detailing and brick facade, while bringing back the crown that was removed in the 1950s. Cetra/Ruddy is the architect of record.
The units are one- to three-bedrooms measuring 1,000 to 2,200 square feet; current asking prices range from $1.8 million to $6.2 million. The penthouses measure up to 3,600 square feet and are anticipated to sell for between $10 million and $14 million.
Interiors have tilt-and-turn windows and ceiling heights from 10 feet to almost 14 feet. Select residences will feature fireplaces and/or private outdoor space. The building rises far above its neighbors (see the construction shots below), so buyers will have 360-degree views. Amenities include a 24-hour attended lobby, gym, resident lounge with pantry and bar, bicycle storage, cold storage for groceries and an outdoor garden lounge.
Douglas Elliman Development Marketing is handling marketing and sales.