Discover NYC's Chic Condos with Upscale Entertaining Spaces

With spring in full swing and warmer weather enticing New Yorkers to gather and socialize, now is the perfect time to explore some of NYC's top developments featuring luxurious entertaining spaces. From chic bars to stylish lounges and elegant dining areas, these condominiums offer residents the perfect settings for hosting memorable gatherings, all within the comfort of their own buildings. High-design condos like Monogram NY, Sutton Tower, and Front & York showcase the importance of providing upscale entertainment options, embracing the concept of layered entertaining where residents can seamlessly move from cocktails to cozy lounges and sophisticated dining areas.

Monogram NY: Elegance in the Heart of Midtown

Photo Credit: Recent Spaces

Designed by Ismael Leyva Architects with interiors by the acclaimed studio Neri&Hu, Monogram NY is a stunning new development situated in the heart of Midtown Manhattan. This elegant condominium effortlessly blends serenity with the vibrant flair of New York City. Residents at Monogram NY can indulge in the top-floor amenity package known as the "Sphere Club." This sophisticated bar and lounge is attended by dedicated staff and offers sweeping panoramic views of the iconic New York City skyline, creating an atmosphere reminiscent of a private club. The Sphere Club also includes a reading room lounge with a fireplace, an intimate bar, and a private dining room with a catering kitchen, all enveloped by expansive city skyline vistas. These luxurious spaces provide residents with the perfect settings to host events and gatherings, ensuring a tailored experience for every occasion.

Sutton Tower: Grand Entertaining on the East Side

Photo Credit: Courtesy of Sutton Tower

Standing as the tallest residential tower along Manhattan's East Side waterfront, Sutton Tower is a defining New York address that boasts unrivaled views and dynamic design by the celebrated designer Thomas Juul-Hansen. The condo building's thoughtful amenity collection, known as The Sutton Club, embodies the Upper East Side’s tradition of grand entertaining. The large private dining room, adorned with warm, elegant finishes and an adjacent chef’s demonstration kitchen, is ideal for hosting and toasting with loved ones on special occasions. Residents also enjoy a secondary dining lounge, providing a more casual, intimate space for gatherings. The entertainment opportunities continue in the building’s skylit club lounge and adjacent terrace, as well as the plush screening room equipped with custom sofas, a wet bar, and a cinema-level audio-visual system. These amenities ensure that Sutton Tower residents have an array of options for hosting any type of event in style.

Front & York: A Luxurious Urban Experience in DUMBO

Photo Credit Colin Miller

Front & York, designed by celebrated architect Morris Adjmi, offers an amenity-driven luxury urban experience in DUMBO with one of NYC's largest and most comprehensive amenity collections, spanning 150,000 square feet. Perfect for residents looking to host intimate gatherings or holiday get-togethers, Front & York features a luxurious wine room connected to a chef's kitchen, creating an ideal suite for custom dining experiences. The development also boasts a dedicated party room with a beautiful dinner table for more formal sit-down dining experiences, as well as a billiards lounge complete with a pool table and bar, making it the perfect customizable suite for any occasion. These thoughtfully designed spaces ensure that residents can entertain in style, whether it’s a casual get-together or a grand celebration.

A Seamless Entertaining Experience

Monogram NY, Sutton Tower, and Front & York exemplify the trend of incorporating upscale, versatile entertaining spaces into residential developments. These condominiums not only provide luxurious living spaces but also create an environment where residents can host memorable events without leaving the comfort of their homes. From intimate lounges to grand dining rooms and everything in between, these developments offer the ultimate entertaining experience, reflecting the sophistication and elegance of New York City living.

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Lex 47th Closes $156M Construction Loan For Luxury Manhattan Condominium

Lex 47th Property Owner LLC has secured financing for its luxury condominium development at 131-141 East 47th Street in Manhattan.  Affiliates of Fortress Investment Group provided the $156 million loan, which closed on May 16, 2022, on the heels of the project’s recent topping off milestone.  The construction loan retired a $50 million acquisition loan from Emerald Creek Capital.  

“We are pleased to finalize this transaction with Fortress, marking another important milestone in the development of 131 East 47th Street,” said Mr. Patrick Zhu, General Manager with the developer.  “We are also excited with the recent progress of this project and thankful to all who have helped us progress along the way. We continue to lean forward and expect to come to market this coming Fall.”

“The development and financial environments have been challenging lately, but we believe in New York City and we believe in this project.  Both are well worthy of the effort”, said Scott Shea, Chief Legal Officer for the developer.

JLL Capital Markets’ New York office facilitated the loan, led by Senior Managing Director Max Herzog and Senior Managing Director Scott Aiese.

We are pleased to complete the financing for this luxury property as the momentum in the city’s residential market continues,” Herzog said. Aiese added “This is a stand-out development with superior amenities and finishes from a dynamic development team.”

The project is designed by Ismael Levya Architects and Neri & Hu.  Its elegant design tells a story about the neighborhood’s architectural legacy and significance as Manhattan’s center of culture and commerce.  The building’s distinctive crown honors the surrounding Beaux Arts and Art Deco landmarks while its clean vertical lines and floor-to-ceiling windows speak to the next era of luxury living in the heart of Manhattan.

The 191 homes range from studios to two-bedrooms.  In addition to top-tier private amenities, residents will enjoy cultivated, hospitality-inspired, concierge services designed by a white-glove service team behind some of the world’s finest hotels. The base of the building will incorporate placemaking retail designed as an extension of the resident amenities.  The developer has enlisted the assistance of the RAL Development Services LLC as an owner’s representative assisting in the management of all aspects of the project.

Title and escrow services were provided by Chicago Title Insurance Company. The developer was represented by Akerman LLP. Fortress was represented by King and Spalding LLP.

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