CONSTRUCTION ADVANCING FOR L HAUS

NEW YORK CITY — Construction is advancing for L haus, an 11-story residential condominium tower located in the Long Island City neighborhood of Queens, New York City. Upon completion in early 2009, the project will comprise 122 one-, two- and three-bedroom units ranging in size from 675 to 1,800 square feet. Additionally, two-bedroom convertibles, and two- and three bedroom duplexes and penthouses will be available. Prices range from $500,000 to more than $1.5 million, and residents benefit from a 15-year, 421-A tax abatement. Community amenities include 10,000 square feet of outdoor space with a lawn, a water feature, tables and a grill; a rooftop terrace; a common room with a catering kitchen; a fitness center and yoga room; and a media room with a big-screen TV and seating for 16. Prudential Douglas Elliman is the marketing and sales agent. The project is being developed by The Stahl Organization.