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Murray Hill in line for new luxury condo tower.


Manhattan's Murray Hill Murray Hill may refer to one of the following places:
  • Murray Hill, Kentucky
  • Murray Hill, Manhattan, a residential neighborhood in New York City
  • Murray Hill, Queens, a different locality in New York City
  • Murray Hill, New Jersey
  • Murray Hill, Pennsylvania
 neighborhood will soon be home to The Charleston, a new 172-unit luxury condominium condominium

In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common.
, courtesy of LCOR.

The national real estate development company announced that it had completed acquisition of a 15,800 s/f development parcel located at 225 East 34th Street, along with air rights and inclusionary bonus square footage, and plans to build a new 21-story residential tower on the site.

LCOR purchased the site, in a joint venture with the California State Teachers' Retirement System (CalSTRS), from Benenson Capital Partners, LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
. The property is currently occupied by a vacant, three-story office building.

The Charleston will contain approximately 170,000 s/f of luxury condominiums. The ground floor will combine a residential lobby and an 11,000 s/f commercial space for office or retail uses. The project will also include a fitness facility, media lounge Media Lounge is an audio-visual collective based in Sheffield and London. It comprises members Dave Holloway, Paul Huxley, Tim Parmee, Tom Rose, Paul (Power) Sherlock and Damien Wasylkiw. , catering kitchen and an outdoor garden terrace.

"There has been a lack of new luxury condominiums in Murray Hill, a desirable residential neighborhood convenient to all transportation," said David Sigman, senior vice president at LCOR. "The Charleston will provide a living experience that is a cut above the rest, with well-designed, beautifully finished residences with high ceilings. Given the steep rise in rental prices in the neighborhood, the time is right to offer an ownership option in a traditionally underserved market."

"It was very important to the Benenson family that the building be named in memory of our father, Charlie, who was instrumental in helping make New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
 great," commented Lawrence B. Benenson, a principal of Benenson Capital Partners, LLC. "LCOR was gracious gra·cious  
adj.
1. Characterized by kindness and warm courtesy.

2. Characterized by tact and propriety: responded to the insult with gracious humor.

3.
 enough to agree and we are certain The Charleston will be one of their most successful projects."

The Charleston will be located on East 34th Street between Second and Third Avenues in the heart of Murray Hill. It will offer studio, one- and two-bedroom residences and several three-bed-room penthouses.

Construction on The Charleston is expected to begin in December 2005, with completion in the spring of 2007.

A team from Prudential Prudential is the name of two different companies and buildings named after them:

Companies:
  • Prudential plc is a United Kingdom-based financial services company.
  • Prudential Financial, Inc.
 Douglas Elliman Real Estate's new development group will serve as exclusive broker for the condominium project. The team will be led by Andy Gerringer.
COPYRIGHT 2005 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Title Annotation:Benenson Capital Partners L.L.C.'s real estate development
Publication:Real Estate Weekly
Geographic Code:1U2NY
Date:Jul 20, 2005
Words:360
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