260 Park Avenue sells 50% of units.

More than 50% of the units at 260 Park Ave. South have been sold, according to the building's marketing agent Douglas Elliman Development Marketing Group and its on-site agents Shaun Osher and Efi Tessler. The 12-story luxury condominium building formerly served as headquarters of the United Federation of Teachers.

Park Avenue South has traditionally housed insurance companies, manufacturers and large commercial offices. However, over the past several years a renaissance has taken place in the area, beginning with the introduction of fine restaurants and hotels and now transforming Park Avenue South into a desirable residential mecca.

260 Park Ave. South is currently being converted into 110 one-to-three bedroom condominiums, including three penthouses; one is even equipped for a laptop pool, should the purchaser wish to install one. High ceilings and large windows provide views of the cityscape and each unit will enjoy abundant light, air conditioning, fully integrated open kitchens and a large volume of space. Apartments range in size from 917 s/f to 4,017 s/f, with prices from $750,000 to $7.995 million.

"We're extremely excited about this property," said Andrew Gerringer, managing director of Douglas Elliman's Development Marketing Group. "This part of town has never had a building with such cachet--a 24-hour concierge, a lobby designed by Shamir Shah, a common outdoor garden and a fully-equipped fitness center."

260 Park Ave. South is steps away from Gramercy Park, Union Square and midtown Manhattan and is an excellent transportation hub, with most subway lines located nearby.

Karl Fischer is the architect for the project, Yitzchak Tessler, of Tessler Developments, LLC, is the developer. Occupancy is expected in the spring of 2005.