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Thread: Atelier Condominium - 635 West 42nd Street - Condo - by Costas Kondylis

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  2. #152
    Build the Tower Verre antinimby's Avatar
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    Piling up points
    Condo luring buyers with credit card down-payment plan



    Use an American Express card
    to buy a $1 million apartment
    at the Atelier (above) — your
    $100,000 down payment will
    earn you 100,000 rewards points.
    That's worth: 4 free nights at the
    St. Regis Hotel in Bora Bora or
    100,000 frequent flier miles or a
    Sony wi-fi system.




    By LORE CROGHAN
    DAILY NEWS BUSINESS WRITER


    Life may take Visa — but the Atelier takes American Express.


    Just by using your American Express card to make a down payment on a condo at the 46-story tower on W. 42nd St. near 12th Ave., you can have four free nights at the St. Regis Hotel in Bora Bora — or 100,000 frequent-flier miles.

    It's the first condo project in the city to take the card.

    The Moinian Group is building luxury condos in one of the last residential frontiers in Manhattan and wants to broaden its arsenal of marketing weapons.

    After the breathtaking views of Hudson River sunsets, the glass-doored Sub-Zero fridges in the kitchens, the place to play bocce on the roof, the card deal is one more lure to hook buyers.

    Elad Dror, the director of residential properties, thinks this one's a crowd-pleaser.

    "If you're a points junkie, who wouldn't love this?" he said.

    You can use Am Ex's charge cards, which you pay off at the end of the month — or its credit cards, for which you pay interest if you carry a balance.

    Either way, you rack up points you can redeem for pricey stuff like a Sony wi-fi system or a TAG Heuer diamond watch — a staggering number of points for a single transaction.

    There are some variations depending on which card you have — but in the Membership Rewards program, which is Am Ex's most popular, each dollar you spend earns you a point.

    The condos at 635 W. 42nd St. cost $600,000 to $1.5 million. Down payments run from $60,000 to $150,000 — that's 60,000 to 150,000 points in a single swipe of the card.

    If the down payment exceeds your card limit, call Am Ex and they'll figure out how you can do the transaction, company spokeswoman Christine Elliott said.

    To rack up the high end of those miles on a plane, you'd have to travel six times around the planet at the equator, or make 25 round-trips from the city to San Francisco.

    Am Ex charges the Moinian Group — not the apartment-buyer — for the service, just as it would charge any merchant that takes its cards, she said.

    Am Ex hopes to roll out the program with other developers, in the city and elsewhere. It follows on the heels of a service that lets apartment tenants pay rent with their cards — which has been expanded to 34 states. Moinian's one of the landlords whose rental buildings take American Express.

    It has taken the developer six months to sell half the 478 condos at the Atelier. The day it launched the down-payment program, an apartment hunter decided to use his card to make a buy, Dror said. In the three weeks since then, seven other buyers have followed suit.

    Dror's happy with the down-payment program — he wants to use it at all his future condo developments.

    The makeover of 42nd St. west of Eighth Ave. is a work in progress — as two gaping holes in the streetscape attest.

    On the corner of 11th Ave., World Trade Center leaseholder Larry Silverstein has dug up and removed 41,000 cubic yards of contaminated soil. His cleanup project should be done next month, said Lori O'Connell, a state Department of Environmental Conservation spokeswoman.

    In December, he'll start foundation work for 57-story twin towers with a total of 1,350 rental apartments, said his spokesman Bud Perrone. They'll be completed in 2009.

    A small project down the street at 534 W. 42nd should be built in just a year.
    Gary Schaeffer — who was a specialist on the floor of the New York Stock Exchange for 22 years — has started demolition at the former site of the Jose Quintero Theater, for a nine-story condo project.

    It will be a jewel box of a building, with a facade of architect's concrete that will be smooth as glass. The market slowdown doesn't matter to him — he'll have only seven condos to sell. After spending his days screaming on Wall Street, far-West 42nd St. feels like a good place to be. "Ten years ago, this area was all hookers and crack pipes," Schaeffer said. "But now it's going to be a wonderful neighborhood."

    Originally published on October 9, 2006

    © 2006 Daily News, L.P.

  3. #153
    Disgruntled Optimist lofter1's Avatar
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    A peek through the gates as they work on the Atelier's lobby ...

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  4. #154

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    Hey Lofter,

    If you have any free time, ha ha ha.

    Could you take some additional pics of the bldg. and post them. Thanks

    Kev

  5. #155
    Disgruntled Optimist lofter1's Avatar
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    I'm finding my cell phone cam takes less than middling pics ... best for clandestine shots on the run

    So most likely I'll leave the wide shots / beauty shots to others (I still haven't figured out how to adjust the cam so that the brightness of the sky doesn't wash out the detail of buildings )

  6. #156

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    okee thanks anyway lofter, maybe someone else can post some good shots of this project.

  7. #157
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    From http://cityrealty.com/new_developments:

    Atelier has sold more than half its 478 units 30-OCT-06

    More than half of the 478 residential condominium apartments at The Atelier at 635 West 42nd Street have been sold.

    The sleek, 46-story tower is expected to be ready for occupancy early next year.

    The apartments range in size from studios to two-bedroom units and in price from $630,000 to $1,500,000.

    The building is a development of The Moinian Group and has been designed by Costas Kondylis Architects.

    According to Monica Klingenberg, executive vice president of The Marketing Directors, Inc., the building’s marketing and sales agent, the building is the first luxury condominium to accept American Express cards for downpayments and, depending on buyers’ rewards systems, buyers who pay by American Express can earn prizes such as 100,000 frequent-flier miles or four free nights at the St. Regis Hotel in Bora Bora. “The day we launched the American Express down-payment program, an apartment hunter decided to use his card to buy,” notes Ms. Klingenberg, adding that “In the three weeks after that, seven other buyers followed suit.”

    Interior architect Kondylis Design designed the Atelier’s diverse layouts and structural features, including a white palette of finishes, white oak floors, white gloss kitchen cabinets, white quartz countertops, white gloss vanity and polished Panda white marble walls and striking Bianco Verde marble floors in the baths.

    The Atelier has a basketball and volleyball court, bocce ball, children’s playground and landscaped outdoor lounge and its top floor has a lounge with a catering kitchen, a billiards room and a landscaped sun deck.

    The building’s lobby will have a 24-hour attendant and a view through a skylight to the swimming pool below.

    The Atelier is the first phase of a 1.5-million-square-foot complex of commercial and residence space that is being developed by The Moinian Group and MacFarlane Partners. The developers also have acquired the adjoining low-rise Verizon building and a gas station to the east and plan to develop those two sites with a second phase that is expected to be completed in 2009.

    The second phase will be developed on the northwest corner of 42nd Street and 11th Avenue and consists of a 57-story tower with 938 condominium apartments at 605 West 42nd Street. The new building will include 375 parking spaces and about 200,000 square feet of retail space.

  8. #158
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    A few random pics from this morning.
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  9. #159
    Build the Tower Verre antinimby's Avatar
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    Is the west-facing curtain wall fully up yet?

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    Quote Originally Posted by antinimby View Post
    Is the west-facing curtain wall fully up yet?
    I believe so, aside from the external elevator still being attached tot eh west side, which means some holes will need to be filled in once that is removed. coming home at night I can see a few units on the east side with their lights on -- at least one looks furnished and like it's being used.

  11. #161

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    anyone with any new pics of this project? please post them if you have them

  12. #162
    Disgruntled Optimist lofter1's Avatar
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    As of last weekend the west facade was almost entirely installed -- just a few windows / trim to go ...

    But what happened with the "black" windows on this one?

    Renderings showed that the bands of "black" windows that alternated up the north & south facade would match the "black" windows that frame the building on the east & west facades. But now those windows appear to be entirely different in both color & reflectivity -- which throws off the unity & balance of the tower as a whole

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    Also, framing those black windows...my friend who went to look at an apartment there was told the extrusions were to be balconies (it was thought they were just decorative at first).

  14. #164

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    Quote Originally Posted by lofter1 View Post
    As of last weekend the west facade was almost entirely installed -- just a few windows / trim to go ...

    But what happened with the "black" windows on this one?

    Renderings showed that the bands of "black" windows that alternated up the north & south facade would match the "black" windows that frame the building on the east & west facades. But now those windows appear to be entirely different in both color & reflectivity -- which throws off the unity & balance of the tower as a whole

    Lofter in all fairness , I think the alternating black bands you saw in the rendering were just shades and shadows from the balconys above them at the 12th 20th 30th and 39th floors.
    Since your up there though, could you please post some new pics. I don't know when I will be getting up there to see he building. Thanks in advance.
    Whats the status on the sister building? Do you know?

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    They were taking down some of the boards covering the lobby this morning, installing the glass. It's a classy entrance. If remember I will post some pics when I get home.

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