Based in New York City, with additional offices throughout key markets in North America, Elad Group is known for best-in-class development projects, with an emphasis on architecturally significant building conversions. “We focus on two main areas: acquiring landmark properties with potential for restoration and conversion into ultraluxury residential buildings and developing new ground up residential properties that offer exceptional amenities,” explains Samantha Sax, executive vice president of sales and marketing for Elad.
Elad has had successful projects throughout New York City in prime residential areas such as Tribeca and Chelsea. The company has also recently partnered with Silverstein Properties on an upcoming mega development on the Upper West Side called One West End — a 42-story building with 246 residences.
Supplementary to its immense success in New York, Elad has also expanded to other top markets in the U.S., including the 2008 opening of the luxury residential building The Carlyle, in Los Angeles — a 24-story tower featuring 78 exclusive private homes. “We do business all over the country, but our main focus is conversions and new development in New York City,” says Sax.
In the historic restoration of the Plaza Hotel and Residence, Elad not only played a paramount role in reinstating a landmark that boasts the largest square footage of any luxury hotel in New York City, the company also led the way in the creation of one of the hotel’s premier features: the Jeffrey Beers’ designed Todd English Food Hall. Launched in spring 2010, the European-inspired specialty food hall was created in collaboration with celebrity chef and acclaimed restaurateur, Todd English.
The food hall offers a range of foods —sushi, cheese and charcuterie, burgers and Asian-style noodles, dumplings and more. Guests can enjoy in one of eight seating areas or order a dish to-go. “The Plaza’s food hall was the first of its kind in New York City,” shares Sax. “It’s been very successful for the historic hotel and other developers have followed our lead.”
Along with the Plaza, Elad also acquired the adjacent building, known as the Plaza’s little sister — the landmark 22 Central Park South. 22 Central Park South is a charming boutique building set against the stunning backdrop of Central Park. It houses six beautiful full-floor condominium residences and a stunning duplex penthouse. Situated along one of Manhattan’s most iconic corridors, the building is steps away from many of the city’s world-class restaurants, hotels, cultural institutions and sought after shopping destinations including the illustrious Fifth Avenue retail corridor.
Given 22 Central Park South’s close proximity to Bergdorf Goodman and Elad’s expertise in unique collaborations and luxurious amenities, it is fitting that Elad established an exclusive partnership with the retail powerhouse. Elad’s exclusive Bergdorf Goodman partnership gives 22 Central Park South residents access to a Bergdorf Goodman personal shopper and allows a red carpet connection to the store’s fashion, beauty and style services.
22 Central Park South has been so successful that it has attained record price per square footage for Elad and with only one unit remaining time is running out for buyers who are want an opportunity to buy into this charming property. “We know our clientele and we do everything possible to provide them with an elevated level of service through exceptional and unique offerings,” says Sax.
One West End, the preeminent residential tower rising at the corner of 59th Street and West End Avenue, is developed jointly by Elad and Silverstein Properties. The 42-story building will be the first and tallest condominium project to come to market in Christian de Portzamparc’s masterfully designed Riverside Center.
“One West End will offer residents in the 246 one- to four-bedroom homes and incredible resort-style amenities, such as a 75-foot swimming pool, spa treatment rooms, a media room, a fitness center and a 12,000-square-foot rooftop terrace,” adds Sax.
With exterior design by world-renowned Pelli Clarke Pelli Architects, interiors by hospitality visionary Jeffrey Beers, and landscaping by award-winning firm Mathews Nielsen Landscape Architects, One West End boasts an impressive lineup of distinguished leaders in architecture and design.
As one of the first developers to break ground in this area, Sax says Elad is very excited for the opportunity at hand. “This is a really special project and an opportunity for buyers to own something different from what is typical in the market,” she says. “So far the response has been very positive.”
Award-winning, top-tier residential
The Carlyle Residence in Los Angeles and 250 West Street in New York’s Tribeca neighborhood are two outstanding projects among the long list of premier developments Elad has been involved with throughout its history. Both developments topped Elite Traveler’s list of best worldwide residential real estate developments, with 250 West Street named among the top 30. Additionally, the Minotti Penthouse at The Carlyle Residences was named by details.com as One of The Most Luxurious Properties of 2015. “The Carlyle is a premier high-rise residential condominium in Los Angeles and one of the first full-service luxury buildings in the city,” notes Sax.
The Carlyle offers gorgeous city and mountain views plus features a white-glove amenity program that caters to buyers looking for more privacy in the busy California backdrop. “We only have three units left at the moment,” says Sax. “Not only did these homes sell quickly, but many sold with the furniture, as the buyers hired our designer to furnish their own spaces.”
The building continues to get notable press and according to Sax, one of the Carlyle’s penthouses was named one of the most luxurious residential condominium properties in 2015 by Details Magazine.
250 West Street opened at a critical time in the real estate market, but has been a successful project for Elad and was named as one of the best-selling residential developments in NYC by the Real Deal in 2013. “This was one of the first residential condominiums to open right after the market crash,” says Sax. “With so much pent-up demand and eye-catching details, such as high-end finishes, high ceilings and an award-winning indoor pool, this property sold quickly.”
It has been a busy couple of years for Elad, as the company’s properties continue to achieve some of the highest rankings in return on investment (ROI) and profit margin for both new construction and residential conversions. The company continues to develop iconic buildings that enhance its growing portfolio, but whose success and notoriety validate its place as one of the leading real estate firms in the nation. With a groundbreaking development in the works and more to come, Elad Group continues a tradition of targeting one-of-a-kind properties and top sites, bringing major growth potential by adding unique amenities and features.
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