Two New NYC Luxury Buildings Are Coming, Complete With Pet Spas And Artist Live/Work Spaces

• Luxury home builder Toll Brothers Inc (NYSE: TOL) division Toll Brothers City Living and Sculptor Real Estate, the real estate business of Sculptor Capital Management Inc (NYSE: SCU), have formed a new joint venture to develop two luxury condominium communities in the New York City market.

• The two communities are The Rockwell, a 13-story, 81-unit condominium community on the Upper West Side of Manhattan in New York City, and 151 Bay Street, a 34-story 259-unit condominium community in Jersey City, New Jersey.

• Toll Brothers is acting as managing member and development lead for each project, overseeing approvals, design, construction, and sales.

• "The structure of these transactions, and our strategic partnership with Sculptor, demonstrate our commitment to maximizing the capital efficiency of our City Living properties," said Toll Brothers Chairman & CEO Douglas C. Yearley Jr.

• The residences will feature high-end luxury finishes. Residents will enjoy a 24-hour attended lobby, private dining room, fitness center, children's playroom, screening room, music room, pet spa, and a rooftop terrace with grills and a fire pit.

• Price Action: TOL shares are trading lower at 1.67% at $48.88 on the last check Tuesday.

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