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Ben Shaoul's 'Affordable Luxury' Condos Hit the Market From $1M

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The rental-to-condo conversion features not-outrageously-priced condos

Name: Luminaire

Address: 385 First Avenue

Developer: Magnum Real Estate Group

Architect: GVK Architects

Size: 21 stories, 103 apartments

Prices: from $1.025 million

Sales & Marketing: Compass

Ben Shaoul's rental-to-condo conversion in Gramercy has been in the works for some time now, and while construction on the building is still underway, the first nine of its 103 units officially hit the market today. The hook for this particular condo is "affordable luxury," with the threshold for affordability in the $1–$2 million range—maybe not affordable for your average New Yorker, but in the world of luxury condos, it's not so bad.

The "luxury" part of that equation comes in through the interiors, which are being designed by D’Apostrophe, an award-winning firm that has crafted the interiors of private homes and retail spaces in the city. The amenities will include fairly standard offerings—a residents' lounge, a rooftop terrace, a 24-hour lobby—along with a gym by The Wright Fit, a company the Times called a "guru for high-end condos."

Nine apartments are up for grabs right now, from a 748-square-foot one-bedroom for $1.025 million, to a 1,235-square-foot two-bedroom for $2 million. You can peep all the listings on StreetEasy.