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'Tops Off' to New York's hottest real estate venture: The Veneto, a new east side luxury condominium residence from Related

Modern classic in New York's East 50s with interiors by Adam D. Tihany marks completion of upper-most floor, unprecedented sales success ** 85% of residences sold in nine months**

There are 8 million stories in New York, and none more appealing than the 34 that have just been completed on Manhattan's East Side. The Veneto, a 34-story, modern classic luxury condominium residence from Related, had the finishing touches put on its upper-most floor on February 5, 2007, bringing to a high point one of the hottest contemporary real estate ventures in New York. Along with its "topping off" - a construction term signifying the structural completion of a building project - The Veneto has seen unprecedented sales success, with 85% of its residences sold in nine months.

Located at 250 East 53rd Street, near Sutton Place and Beekman Place, the latest luxury project from Related offers modern classic design and 137 residences with interiors by world-renowned interior designer Adam D. Tihany. The building's name evokes the 1950s-era European sophistication and style of the Via Veneto in Rome. Imagine "the sweet life" of that legendary thoroughfare, which embodied Italian elegance, treasures and tradition in a glamorous era not far removed from contemporary New York.

"Though we're stopping at 34 floors, the sky has always been the limit for The Veneto, a modern classic that is just what upscale New Yorkers are looking for," says Susan M. de Franca, President of Related Sales. "With its desirable location, seductive amenities, and especially its glamorously designed interiors by Adam D. Tihany, The Veneto is appealing on every level. The extraordinary sales pace in such a short period speaks for itself."

When owners begin taking up residence in Fall 2007, they'll have plenty to look forward to both on-site and in the neighborhood. The Veneto's Exclusive Residents Club designed by Tihany will feature a "Terzo Piano" Entertainment Lounge, adjacent "Giardino" Outdoor Garden, Fitness Lifestyle by Equinox including Fitness Concierge Services and "Arcobaleno" Children's Playroom.

Meanwhile, The Veneto is in the heart of one of the world's grandest cultural, shopping, restaurant and business scenes. MoMA and its signature restaurant The Modern, upscale retailers like Barney's and Bergdorf Goodman, the corporate towers of Midtown Manhattan, and the strikingly modernist U.N. Plaza are all just steps away. The few remaining Veneto luxury condominium residences, most of which are above the 24th Floor or have terraces, range in size from 763 sq. ft to 1, 930 sq. ft and are priced from $955,000 to over $2.8 million. Related Sales LLC is the exclusive marketing and sales agent for The Veneto.

So "tops off" to The Veneto, a modern classic for contemporary New York! For more information about The Veneto, please contact the exclusive marketing and sales agent, Related Sales LLC at (212) 688-5300, or visit www.theveneto.com.

For press information and hi-res renderings, please contact Emily Santos at Hawkins International PR at (212) 255-6541 or [email protected]

Note to Editors: The original square footage ranged from 763 sq. ft to 2,548 sq. ft and original pricing started from $955,000 to over $5 million. The new square footage and price range reflects the sales of The Veneto penthouses. (October 2006).

 

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About Related Heralded as one of the most prolific and visionary developers in the country, Related was formed over thirty-five years ago. Today Related is considered the most prominent privately owned real estate development firm in the United States, headquartered in New York City with divisions in development, acquisitions, property management, marketing and sales. In 2004, Related completed the development of New York City's newest landmark, Time Warner Center. Related has affiliated companies and developments in Miami, Los Angeles and Chicago and boasts a team of more than 2,000 professionals. To date, Related has real estate assets worth over $15 billion with another $9 billion currently in development. In Los Angeles, Related is expanding its portfolio with The Century, a super-luxury condominium in Century City and The Grand Avenue development, situated directly across from the beloved Frank Gehry-designed Walt Disney Hall, which will include luxury residences, retail, notable restaurants, and a world class hotel.

Related boasts one of the longest and most impressive track records in the New York real estate industry, having completed 33 Manhattan development properties representing over 6,200 apartment homes, 3 million square feet of commercial space and over $4.6 billion in development costs since 1986. The firm is dedicated to architectural excellence and has distinguished itself as New York City's finest developer of luxury condominium properties such as The Chatham at 181 East 65th Street, The Park Imperial at 230 West 56th Street, and One Central Park Condominiums and The Residences at Mandarin Oriental at Time Warner Center. Related's luxury rental portfolio of 17 properties in Manhattan includes such outstanding downtown properties as The Tate at 535 West 23rd Street, The Westminster at 180 West 20th Street, The Sierra at 130 West 15th Street and One Union Square South at 1 Union Square South. For more about Related please visit: www.related.com.

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