Belfonti Capital Partners, LLC to develop 104-units at 485 Fifth Ave. for $170 million
Source: New York Real Estate Journal - March 14, 2006
NEW YORK — Fashion designer Peter Som has joined forces with international real estate investor and developer Belfonti Capital Partners, LLC to create the ultimate experience of luxurious living at 485 Fifth Avenue.
The first residential tower to bring the hands-on styling of a world class fashion designer to the execution of sophisticated urban residences an innovation conceived by Belfonti Capital Partners, LLC Principals Michael Belfonti and Adam Hochfelder 485 Fifth Avenue offers 104 residences within the exclusive pre-war property.
Belfonti Capital Partners, LLC began construction on the $170 million development in January 2006. The team is launching the exclusive "collection" of residences at 485 Fifth Avenue in conjunction with the Spring 2006 fashion shows in Bryant Park.
"We are proud to work with critically acclaimed fashion designer Peter Som, who is bringing the same elegance, beautiful materials and functional ease to his designs for 485 Fifth Avenue that he does to his clothing collection unveiled every season just across the street in the Bryant Park tents, said Mr. Belfonti. "The residences come with the very clear imprimatur of good style and taste. 485 Fifth Avenue is not just a building; it's a lifestyle from the moment you step into the lobby."
Residents enter a refined ground floor residential lobby with an impressive double height space and a three-story winding staircase. The front desk will be additionally staffed with a member only concierge service providing residents with the best recommendations, tickets, event planning and global travel arrangements. The second floor of the building will feature an expansive private garden, tying the two residential towers together.
485 Fifth Avenue provides access to amenities catering to a sophisticated clientele. It also boasts a 10,000 square-foot amenities space including a state-of-the-art fitness center, screening room, wine cellar, private lounge and dining room, all featuring a special collection of furnishings reflecting Peter Soms signature look. According to Michael Belfonti, principal of Belfonti Capital, "485 Fifth Avenue will be the perfect blend of style, sensibility and advanced technology the ideal sanctuary in the heart of midtown Manhattan."
485 Fifth Avenue residences will feature the finest quality finishes, fixtures and appliances, all with Peter Som's chic touch. Kitchens will be lavishly detailed with lacquer cabinets and stone surfaces, while bathrooms will include exquisite marble mosaics and Philippe Starck fixtures.
Peter Som welcomed the opportunity to bring his magnificent designs and creative energy to the residences at 485 Fifth Avenue. "Surrounding yourself with luxury is something that extends from the clothes I design to where I live," explains Som. "485 Fifth Avenue is an expression of an elegant lifestyle."
485 Fifth Avenue will be one of the first luxury residences to blend lavish comforts and exquisite interior designs with Crestron home amenities solutions. This advanced system provides the ultimate level of convenience by allowing residents to streamline and simplify all of the technology in a home including lighting, music, climate, video and other lifestyle luxuries.
The residences will range from one-bedroom to four-bedrooms, with one extraordinary penthouse featuring 3,000 square feet of outdoor space.