Bill Cheng receives TCO for $139M Gramercy condo, nearly 7 years after filing

Bill Cheng, on March 10, was issued a temporary certificate of occupancy for construction of a 51-unit, 79,366-square-foot condominium building at 150 East 23rd Street in Gramercy. The development is known as Celeste Gramercy. Kent Cheng, Bill’s son, filed the plans.

The condo, CD180079, has a $139,551,000 sellout with the New York State Attorney General. Bill Cheng, along with his son Kent, and daughter Lillian, are listed as the principals of sponsor.

The plans, pre-filed on July 7, 2014, call for the construction of a 210-foot tall, 19-story residential building. The time from pre-file to TCO was six years and eight months.

The project is described in the filings as: construct new 19-story residential building.

The development has several amenities, according to the plans. Among them are a children’s room, lounge, exercise room, swimming pool, and yoga room. The building also has retail space on the ground floor. The condos are a mix of one-, two-, and three-bedroom units that range in size from 646 square feet to a 2,732 square feet.

Sales launched for the units in the fall of 2018. According to a report, several of the units have walkout terraces.

Commercial Bank provided Cheng with a $58 million construction loan to facilitate the development in 2015.

The property was acquired for $4.8 million on September 17, 2009.

Direct link to Acris document. LINK

Direct link to DOB document. LINK

Direct link to C of O document.LINK