R.A.L Companies & Affiliates, a luxury developer of condominium and resort communities nationwide, has received formal declaration from the Office of the New York State Attorney General that the Loft 25 condominium offering plan is effective. Buyers at the luxury loft building located at 420 West 25th St. in Chelsea's art gallery district can now enjoy the benefits of immediate closings and occupancy in addition to the building's unique mix of pre-war and new construction and modern design. "We are proud to have reached this milestone having already sold more than 60% of the property's residences to buyers that include a handful of the city's most notable artists," said R.A.L. president and CEO Robert Levine about the building where film director Mira Nair, interior designer Antony Todd, fine artists and fashion models have purchased their homes. Designed by Creative Design Associates, the nine-story building offers 79-luxury studio to two-bedroom lofts, garden duplexes and penthouses. A newly constructed seven-floor glass addition features two one-bedroom homes per floor as well as a 2,340 s/f duplex penthouse with its own 1,500 s/f terrace.