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NEW YORK CITY—Ground-up construction at 212 W. 95th St. for a 19-story, 38-residence, luxury condominium is scheduled to begin this month with an expected completion date in early 2020. The project will also include retail and parking. The parking garage at 214 W. 95th St. has been demolished and is part of the development site.
The developers, Certes Partners, Metropolitan Acquisitions and United Management secured $71.5 million in financing from Goldman Sachs Bank USA.
The New York City-based architecture and interior design firm CetraRuddy designed the project with RKTB Architects. Reuveni Real Estate will be responsible for the exclusive sales and marketing of the residences.
Financing was arranged by Zevi Schwartz of Black Wolf Capital. The development team consists of United Management principal Arthur Wiener, Meir Bouskila of Metropolitan Acquisitions, and Certes Partners principals Elan Hakimian, Eitan Bouskila and Sunder Jambunathan.
“We don’t compete with other projects. Our competitor is the suburbs,” says Certes Partners co-founder Sunder Jambunathan. “We have worked hard to create a residence which compels people and families to stay in the city, and which attracts empty nesters to return.”
The plot had been the site of the former Camden Hotel, a six-floor, single occupancy residency, constructed in 1908. Certes and United Management had purchased the property in 2014 for $15 million, according to Real Capital Analytics. The developers’ spokesperson tells GlobeSt.com they had also purchased the parking lot at 214 W. 95th St. Both structures have been demolished for the luxury residential project.
The developers aim to create a suburban living home environment, with private parking, landscaped outdoor spaces, indoor and outdoor children’s play areas and storage, while marketing its location of the Upper West Side.
Betsy Kim is the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
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