Just launched this weekend, Atelier is a large mixed-used scheme on 42nd Street, which will eventually comprise a massive 1.5 million sq ft of commercial and residential development.

A joint venture between KMS Commercial, The Moinian Group, a New York-based real estate development firm, and real estate investment managers, MacFarlane Partners, Atelier is a 46-storey building comprising 478 studios and one and two-bed condominiums, of which 100 are selling to Irish investors.

Apartments will be top-of-therange and include features such as white oak flooring, pre-wiring for cable tv, telephone and internet, fitted kitchens with white gloss units, under-cabinet lighting and polished white quartz worktops.

Appliances are included and will be finished in stainless steel. Bathrooms will have polished marble floors and walls, while en-suite bathrooms will also include recessed storage presses.

Located at 635 West 42nd Street between 11th and 12th avenues in Manhattan, Atelier is situated in the Hudson Yards area, a development zone similar to the Dublin Docklands currently undergoing massive redevelopment.

The Hudson Yards will eventually incorporate 13,500 residential units, 24 million sq ft of office space, several hotels and an extension to the Jacob Javits convention centre.

The subway will be extended with a new station planned for the corner of 42nd Street and 10th Avenue.

Said to be one of the most important new developments in Manhattan in several decades, the Atelier development is predicted to have strong rental potential, with the theatrical and office area of Time Square just four blocks away.

The residential side of the building is due to be finished by January 2007, with the remainder of the commercial and parking facilities completed within the following four years.

"The scope of this project demonstrates our confidence in the strength and stability of the Manhattan residential market and our commitment to the revitalization of the West Side, " says Joseph Moinian, CEO of The Moinian Group.

An impressive building, Atelier has been designed by architects Costas Kondylis & Partners, who say they drew inspiration for the development design from the great ocean liners docked along Manhattan's west side.

"Atelier recalls the bow of a great ship interpreted all in glass with wrap-around balconies and expansive views, " says Kondylis.

The land for the project was acquired from two different sellers and includes a 1.1-acre lot at 635 West 42nd Street and a 1.4acre site at 605 West 42nd Street.

Studio apartments range in size from 51 to 54sq m (546 to 579sq ft) and are priced from 445,872. Onebeds are from 57 to 70sq m (613 to 759sq ft) and cost from 582,000, while two-beds of 87 to 99sq m (941 to 1070sq ft) cost from 1,023,854.

Atelier will be on view today at the Berkeley Court Hotel.

KMS Commercial 01 6425220