In anticipation of its official sales launch later this winter, Ben Shaoul’s Magnum Real Estate Group has illuminated Luminaire, a 103-unit condominium-conversion at 385 First Avenue in downtown’s Gramercy Park neighborhood. According to the marketing team, the cool-blue lighting scheme, specified by Magnum, is inspired by the building’s floor-to-ceiling windows and sun-bathed units.
Previously known as the Post Luminaria, the 21-story, 154,000-square-foot former rental tower was finished in the summer of 2002 and developed by a joint venture between Atlanta-based Post Properties and the Clarett Group. Randy Gerner of GKV Architects served as the building’s designer and crafted a dignified facade of decorative cast-in-place concrete and triple-glazed multipane windows. The large floor-to-ceiling windows are a mix of clear and frosted glass. During daylight hours, sun streams through the frosted glass walls to infuse homes with radiant light. At night, like a traditional luminaria, the corner building glows from within, making it a distinctive addition to the neighborhood.
In July 2014, The New York Post reported that Shaoul’s Magnum Real Estate Group signed a contract to buy Post Luminaria and its sister building, Post Toscana, for a total of $270 million. The building’s 138 rental units will be pared down to 103 spacious condominiums, ranging from one to three bedrooms, and the loft-like interiors and amenity spaces will be reimagined by acclaimed Belgian designer Francis D’Haene of the firm D’Apostrophe. Last year, Shaoul told Bloomberg that prices will range from below $1 million up to to $5 million, making them quite a bargain for the area.
Amenities will include central heat and air conditioning, a state-of-the-art fitness and weight training center designed by the Wright Fit, a rooftop terrace, a residents’ lounge with adjoining terrace, a 24-hour attended lobby, and bicycle storage and private storage rooms available for purchase. An official sales launch is expected later this winter.
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