Sales for Hell’s Kitchen luxury conversion 435 West 50th Street will launch in fall 2013, according to Michael Stern of JDS Development.
There will be 71 condominiums at the former Verizon building, originally designed by Ralph Thomas Walker. JDS and Property Markets Group acquired the upper floors of the property for over $25 million in 2011. CetraRuddy will be handling the renovation.
The developers secured $45 million in financing for the project in January, and Starwood Capital will supply additional equity, The Real Deal reported. JDS and Property Markets Group have previously worked with Starwood on their famed Walker Tower in Chelsea and a 28-unit, 51-story development at 107 West 57th Street.
JDS and Property Markets Group have yet to choose a brokerage for 435 West 50th Street, Stern told us Thursday.