Development firms JDS Development and Property Markets Group plan to bring their Stella Tower luxury condominium conversion to market this month.
The Art Deco building at 425 West 50th Street, named for the wife of its architect, Ralph Walker, has within it 51 apartments, with lower-floor apartments ranging from $1.5 million to $9 million, the New York Observer reported.
Prices at the luxury tower, located near the future site of Hudson Yards, are lower than its sister tower, according to Vickey Barron of Douglas Elliman, who is handling sales for both buildings.
“We will gradually increase our prices and be able to sustain those increases just like we did at Walker Tower,” Barron told the Observer. Amenities in the 18-story building will include a fitness center, library and a lounge off the lobby.
The project is likely one of the last that PMG’s Kevin Maloney and JDS’s Michael Stern will complete together, as previously reported. The developer duo have collaborated on a slew of high-profile projects in Manhattan, including the 1,350-foot condo tower at 111 West 57th Street. [NYO] — Angela Hunt