TOWN NEW DEVELOPMENT CLOSES TWO PENTHOUSES AT THE CHARLES FOR $58.635 MILLION

13_PH-SKYLINE_5-1-e1440004720497NEW YORK – (August 14, 2015) – Bluerock Real Estate together with TOWN New Development proudly announce the closing of its two penthouse residences at The Charles, the company’s luxury Upper East Side tower, for a record-breaking $58.635 million, combined. Located at 1355 First Avenue off 72nd Street, The Charles broke ground in 2012, with a private, full-floor only layout that set a new standard in luxury design.

Penthouse One, a quadruplex, closed for $37.94 million, shattering records as the highest price ever achieved for a residence east of Third Avenue on the Upper East Side. Penthouse Two, a duplex, closed for $20.695 million. Prices per square foot on both units were also among the highest ever recorded in the neighborhood east of Third Avenue.

Ginger Brokaw and Jason Karadus of TOWN New Development are the building’s exclusive sales agents.

To date, more than 70% of The Charles’ 27 units have been sold and the building, which is nearly complete, has already welcomed its first residents.

“The Charles has attracted buyers with a truly exceptional mix of full floor-only residences, light-filled great rooms, sweeping views and superb construction,” Mr. Karadus said of building, which features designer interiors crafted by David Collins Studio and architect Ismael Levya. “Buyers are also drawn to The Charles’ high-touch, white glove service. The ratio of staff to residents is very high, which affords residents a level of service reminiscent of another era.”

The multi-floor penthouses boast 360 degree views that extend from river to river and beyond, with dazzling cityscape views to the north and south.

The 12-bedroom, 12-and-a-half bathroom Penthouse One quadruplex, a spacious and substantial combination of three units, also features generous terraces on two levels, providing the new homeowners with more than 1,300 square feet of exterior space. Plans for the residence include ample, separate spaces for living and entertaining, 12-foot ceilings, as well as a custom-built interior private elevator.

Penthouse Two is an elegant eight-bedroom, eight-bathroom duplex with a streamlined and modern interior circular staircase, a custom built 1,200-square-foot dressing room, 11.5-foot ceilings, and the same wide-open vistas and expansive city views.

Bluerock Real Estate has been working with TOWN New Development to market the project. “The Charles introduced a new level of luxury into the neighborhood east of Third Avenue. There’s a terrific renaissance happening in the neighborhood, with the pending completion of the Second Avenue subway and the continued beautification of the cityscapes adjacent to the river. Prices in the neighborhood are still favorable, though rising, with the influx of luxury buyers and retailers,” said Ms. Brokaw.

Residences throughout the building deliver a contemporary take on gracious Manhattan living with four-bedroom, four-bathroom units sized at 3,000 square feet and up. Oversized living and dining rooms feature floor-to-ceiling windows that celebrate the city’s expansive views and streaming natural light. Each unit features beautifully appointed eat-in kitchens with Miele and Sub-Zero appliances; grand master suites with ample dressing areas, walk-in closets and marble soaking baths. Opulent finishes, including five-inch white oak and marble flooring, provide timeless elegance to each unit, while soaring ceilings create a feeling of abundant space and volume.
To ensure that homes are ultra-quiet, the developers installed a state-of-the-art, four-pipe fancoil system that is virtually invisible and silent. Substantial under-floor padding nearly eliminates noise transmission as well.

“The closing of the penthouse units reinforces our belief in the neighborhood was well placed and that our design decisions were in step with the market,” said Ramin Kamfar, CEO of Bluerock. “We created a residence with the scale and privacy of a townhouse, but with lots of light and with the convenience of high-touch concierge service. The market has responded very well.”

The Charles was designed by architect Ismael Levya, lauded worldwide for captivating designs that are both contemporary and sophisticated. Mr. Levya has designed numerous high profile residential developments including Seattle’s Pagoda Towers, the Vista del Parqe in Costa Rica and, in New York, a multitude of buildings including Riverhouse, Icon, Yves Chelsea, BKLYN AIR, 19 Park Place, Place 57 and many others.

Interior finishes were designed by David Collins Studio, designers of upscale hospitality, commercial and residential spaces worldwide. Each features the designer’s timeless, elegant aesthetic. The studio’s projects include The London NYC and London West Hollywood hotels, the Delaire Graff Estate Lodges in South Africa, The Apartment at the Connaught in the UK, The Port Baku Residences in Azerbaijan, Langton House Hotel in Ireland, The Gate Suites in West Hollywood, and numerous other luxury venues.

The Charles’ 32-story glass tower features 27 full floor residences. Developed by Bluerock Real Estate and Victor Group, The Charles breaks from the traditional, pre-war, and post-war brick architecture of its surroundings yet blends elegantly into the neighborhood with a seven-story, limestone base. Building amenities include a children’s lounge, private storage, fitness center, game room, and 24-hour doorman and concierge.

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