PRESS

<<Prev Next>>

Strata At Mercedes House Makes Final Leasing Push

The Real Deal, July 2013

http://therealdeal.com/blog/2013/07/17/strata-by-mercedes-house-makes-final-leasing-push-photos/

By Hayley Kaplan

Agents from across the city hobnobbed with executives from the Dallas-based Invesco over strawberry sangria last night as they scoped out the final units left to be leased at the Strata at Mercedes House rental development in Hell’s Kitchen.
Around 200 brokers and bigwigs from the investment firm were present on the rooftop of the zigzag building at 550 West 54th Street between 10th and 11th avenues. The event was meant to celebrate Strata at Mercedes House being 60 percent leased. However, Lenny Inzirillo, the leasing manager of the building, told The Real Deal that the building was nearing 70 percent leased.

Invesco purchased 162 units in the 874-unit building for $170 million from Two Trees Management in February and calls that portion of the building Strata by Mercedes House, as previously reported. The Two Trees portion is simply called Mercedes House.

Rental and sales brokers alike told TRD that they were attending to the event to check out Mercedes House for themselves, since Two Trees has been leasing units in the building since 2011.

The building’s amenities include a basketball court, indoor and outdoor swimming pool, gym and spa. The remaining units in the building range from a one-bedroom for $6,390 a month to a three-bedroom for $12,200. And, as an extra incentive, any broker to execute three leases by August 15 receives an additional $2,500 brokers’ fee and $1,000 for every lease after that, according to a brochure handed out at the event.