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NEW YORK CITY-Construction of an apartment complex comprising 850 units called Mercedes House is underway at 11th Avenue and 53rd Street in Clinton. Two Trees Management is the developer of the 30-floor building, which will include a Mercedes service center and showroom on the bottom floors.

The first phase of the two-phase condo and rental project worth $500 million is slated for completion in May 2011. It comprises 250 rental apartments, including 1,000-square-foot tow-bedroom units to 460-square-foot studios.For the full story, go to New York Times.

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