27 CONTRACTS OUT IN SEVEN WEEKS AT ONE48; NEW GRAMERCY AREA DEVELOPMENT DECLARED EFFECTIVE

NEW YORK, NY – August 4, 2011 – (RealEstateRama) — ADG Langsam and Halstead Property Development Marketing announced today that 27 contacts have gone out in just seven weeks at ONE48, a new residential condominium located at 148 East 24th Street. With 11 contracts fully executed, 20% of the building’s units have been sold in just nine weeks on the market, signaling that the development’s offering plan has been declared effective by The New York State Attorney General’s Office.