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Toll Brothers Launches $1.5M Luxury Condos in New York

Toll Brothers, Inc.TOL recently unveiled a boutique-style, luxury condominium, called 55 West 17th Street, under its urban development division of Toll Brothers City Living. Located in Chelsea, NY, 55 West 17th Street, these luxury condominiums are priced from $1.5 million and upward. The sales gallery is expected to open on Sep 28.

The 19-storey 55 West 17th Street building accommodates 53 luxury homes with one to four bedrooms and expansive duplex penthouse with a private terrace and outdoor swimming pool on the top floor. The facade of the building features handmade Danish brick, and cornice, window frames, and entrance made from bronze architectural metal.

The homes feature open floor plans with white oak flooring, and amenities like washer, dryer, kitchen equipped with oak cabinetry, marble countertops, wine refrigerators and necessary appliances. The master bathroom features marble walls and floors, marble vanity tops and backsplashes along with black oak custom cabinets.

Other facilities include full-time doorman, concierge service, a well-equipped fitness center, children's playroom, and lounge with a billiards table, screening room, and bicycle storage.

Given its exceptional location, the residents of these luxury condominiums will enjoy easy access to the cultural institutions, restaurants, market and shops.

Toll Brothers City Living division is known for its luxury accommodations located in high-end New York City market. The luxury home market is less competitive as it caters mainly to move-up buyers. They already have a residence and interested to shift into larger and better homes, and so are less price-sensitive. Therefore, introduction of these high-priced luxury homes should drive revenues, going ahead.

Toll Brothers has a Zacks Rank #3 (Hold).

Stocks to Consider

Investors interested in the building sector can consider M/I Homes, Inc. MHO , DR Horton Inc. DHI and Lennar Corporation LEN . While M/I Homes and DR Horton sport a Zacks Rank #1 (Strong Buy), Lennar Corporation holds a Zacks Rank #2 (Buy).

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LENNAR CORP -A (LEN): Free Stock Analysis Report

TOLL BROTHERS (TOL): Free Stock Analysis Report

D R HORTON INC (DHI): Free Stock Analysis Report

M/I HOMES INC (MHO): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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