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DOUGLAS ELLIMAN TAKES OVER LEASING AND MARKETING OF HERALD TOWERS

Date: Jun 29, 2016

NewYork, NY– Douglas Elliman announced today that it has added Herald Towers to its evergrowing roster of developments and properties. The brokerage firm will beassuming leasing operations and ongoing marketing for the 25-story, 690-unitrental building effective immediately. Elliman will also be consulting onsignificant upgrades and renovations of this prominent Midtown property locatedat 50 West 35th Street, in the heart of iconic Herald Square.

Overthe course of the next 18 months, the venerable 1912 building will undergomajor alterations that will include re-locating the lobby, building out newamenity spaces, and upgrading the common areas and the apartments. HeraldTowers will be rebranded with a marketing campaign and Douglas Elliman willhelp guide these efforts.

“We’reexcited to partner with Douglas Elliman at Herald Towers,” said Louis Jerome, Principal of JEMB Realty.“The partnership will allow us to take advantage of the full breadth,experience, and market knowledge of Douglas Elliman, helping to bring ourpremier residential building to its full potential.”

Herald Towers is located at the crossroadsof a major transit hub with access to MTA Subway lines, PATH train and LIRR,with easy access to one of NYC’s best shopping districts. The luxury unitsboast panoramic city views, 24-hour concierge service, in-house dry cleaners,plus a self-service laundry, a penthouse-level fitness center, and a roof deckoverlooking stunning city views.

“With our experience in both rentals and marketing we are well positioned towork with JEMB Realty as they make Herald Towers even more desirable forrenters,” said Cliff Finn, executive vice president of new development for DouglasElliman. “We’re excited to get started on this terrific project and campaign.”

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