Quote:
Originally Posted by kenratboy
Please please please let this get built before a recession kills it, limits it to 500' or something else. I just love this building.
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Its not going to get killed because its financed, there is a housing demand in which part of this tower does have affordable housing, and there is high demand for market rate units and unbelievably so for affordable housing; so much that the lottery has horrible odds due to how many applicants are in the pipeline. This tower is not uber ultra luxury. Might I say, kinda affordable relative to whats rising on 57th Street or anywhere on the UWS.
NYC has a way of weathering recessions on a side note, as history has shown. But the biggest factor is housing in general. One might think a million dollar unit might not sell, but it will! It will!!! Its actually cheap compared to some of the bs costs in Manhattan for example. 1 million dollars might seem a lot for some cities, but depending on the neighborhood, its actually a bargain in NYC (location dependent). There is massive demand for units 400k-1.5 million in price.
Another tower thats actually cheap relatively speaking is 99 Hudson in Jersey City. Magnitudes cheaper than getting something in SoHo or Greenwich village, and you'll actually get a killer view along with it versus staring at some brick wall for a 4 million dollar unit in SoHo.