125 North 10th Street Announces Full Sell-Out

April 21, 2011
CORE Sells Final Apartment in Prime North Williamsburg Development

NEW YORK – (April 21, 2011) – CORE is pleased to announce that 125 North 10th Street, located in Williamsburg is now completely sold out. The 86-unit ground-up condominium building was developed by a partnership between Savanna and Investcorp, with the marketing and sales efforts led by CORE Senior Vice President Doug Bowen and Sales Associate Win Brown.

“Savanna and Investcorp began construction of the building in 2006 and it is a testament to their strength and commitment that this project has successfully sold out,” noted Doug Bowen, Senior Vice President at CORE. “The result of the team’s hard work was that 125 North 10th was quietly the most successful building in Williamsburg over the last year. More significantly, it is now a building full of a very happy group of residents.”

While numerous projects in Williamsburg and throughout New York ground to a halt due to the financial crisis, 125 North 10th managed to continue its construction and marketing effort throughout the downturn. The development team and the lender, Swedbank, saw the opportunity to continue with their plans to deliver a first-rate product while other developers were putting projects on hold or reducing the scale of their plans. 125 North 10th officially welcomed its first residents in June, 2009 and has been very well received by the marketplace.

“Doug has been an instrumental contributor to the project from the initial design in 2006 until the last unit sold and his unwavering dedication and support of the building was key to 125 North 10th’s strength in the market,” said Shep Wainwright of Savanna.

Developed by New York-based Savanna, 125 North 10th offered 86 1-, 2- and 3-bedroom units featuring 10-foot+ ceilings, individually controlled central heat and air, custom cabinetry in the kitchens and baths, icestone counters made of 100% recycled glass, sustainably-harvested Brazilian Ipe hardwood flooring, stone and tile baths with 6-foot soaking tubs, generous closet and storage space, and graceful terraces.

“It was a pleasure working with a developer who was steadfast in their commitment to deliver and complete a luxury product in a neighborhood that continues to thrive,” said Shaun Osher, Chief Executive Officer of CORE.

125 North 10th is three blocks from the first Brooklyn stop on the L train, two blocks from McCarren Park and two blocks from East River State Park on the waterfront. Amenities include a 24-hour concierge, two fully furnished common roof decks, a sculpture garden/courtyard, a multi-media room, a billiard lounge and a wellness floor that includes a gym, a bodywork studio and a children's play room.

About CORE

CORE is a real estate sales and marketing firm delivering the best in brokerage, communications and advisory services for the luxury residential segment. In addition, CORE’s elite group of highly experienced and successful professionals service developers who value efficient, no-nonsense results. CORE was founded by Shaun Osher as a full-service boutique firm with a strict adherence to the principles of integrity, efficiency and results. For more information visit www.corenyc.com .

About Savanna

Formed in 1992, Savanna is an institutional real estate private equity firm and asset management company based in New York City. The firm pursues opportunistic real estate equity and debt assets throughout the northeastern United States with a focus on directly owning and operating properties in New York City and the Washington, D.C. metro area. Since inception, Savanna has invested in over 14 million square feet of real property across multiple asset classes and locations. For additional information on Savanna, visit www.savannafund.com.

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