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Doors opening in the Lower East side.

A breathtakingly beautiful, 16-story, luxury condominium, with an exterior that resembles a perfectly cut azure gemstone, is about to rise on New York's historic Lower East Side, on the former parking lot belonging to Ratner's, the legendary 100-year old kosher restaurant known for traditional Jewish dairy delicacies.

Named Blue, the elegant 32-apartment property is the Lower East Side's first residential full-time doorman building, and the first multifamily project undertaken by world famous architect, Bernard Tschumi, who presided as Dean of Architecture at Columbia University from 1988-2003.

Situated at 105 Norfolk Street, Blue's Ratner connection extends even further--its sales office, located across the street from the building at 100 Norfolk Street, occupies Ratner's former restaurant kitchen.

Blue, estimated to cost $17 million, is the brainchild of developers Angelo Cosentini and John Carson. They are working in conjunction with Hudson Realty Capital LLC, a New York-based real estate fund, led by Richard Ortiz.

Barrie Mandel, Senior Vice President of The Corcoran Group, will be selling the building's one- and two-bedroom apartments, and luxurious duplex penthouse ranging in price from $745,000 to $3.95 million, and in size from 759 s/f to 2,494 s/f.

Aine Brazil P.E. and Eli B. Gottlieb, P.E. of Thornton-Tomasetti Engineers, executive architects SLCE Architects, and mechanical and electric engineers Ettinger Engineers complete the development team.

"The Lower East side is imbued with a history of rich ethnic tradition," said Mr. Cosentini, "and the neighborhood continues to evoke the vitality of the wide diversity of immigrants who have inhabited its historic streets.

"What we've tried to do with Blue is build a world-class architectural icon, a signature one-of-a kind building that is emblematic, both externally and internally, of the Lower East Side's spirit of reinvention and experimentation."

The area abounds with landmark restaurants, ethnic food shops, cultural and educational institutions. The project is set for completion in the Fall of 2006.
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Title Annotation:Residential Marketing & Brokerage
Publication:Real Estate Weekly
Date:Sep 21, 2005
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