[NYguy]

This is the kind of news we need. May be too late for this one though.



https://nypost.com/2023/04/02/condo-...ence-downtown/

Luxury condo sales at 130 William provide residential resurgence in downtown NYC





By Steve Cuozzo
April 2, 2023

In a much-needed flash of residential energy downtown, the 242 luxury condo apartments at Lightstone Group’s 130 William St. are nearly sold out, according to an analysis of public records posted on the city’s Department of Finance ACRIS database.

The flood of pricey purchases since marketing began in 2018 hopefully portends a resurgence for the whole area, which needs all the resurgence it can get.

The apartment sales are the real 130 William story, but have largely been eclipsed by puffy, design-focused stories about the 66-story tower’s views, classy amenities, and architect David Adjaye’s vision — which is like nothing else on the Lower Manhattan skyline.

The building’s public face is hard for anyone to miss. Huge, arched windows are set in a hand-cast concrete facade that reads as black from a distance, but softens to silver-gray at closer range. The structure’s monolithic, Moorish-reminiscent profile is as striking a departure from Downtown’s skyline as Rafael Vinoly’s all-white, square-windowed 432 Park Ave. is from Midtown’s.

Lightstone senior VP of development Scott Avram said, “130 William Street is over 90% sold and occupied and recognized as the best-selling condo tower in the city over the past few years.”

The impressive record was achieved during a five-year sales effort that included the near-three-year pandemic, when much of Lower Manhattan was desolate. Sensible pricing contributed to the project’s popularity. (Notwithstanding a few $10 million deals for penthouses, most units have sold in the $2 million-$3 million range, according to Finance Department data).

“Lightstone was smart by pricing their product reasonably at the outset, so they didn’t get the negative publicity of price-cutting the way some uptown locations did,” one analyst said.

In fact, most 130 William units sold at or very close to the original “asks.” Average prices were around $3,000 per square foot or less, compared with above $5,000 at 432 Park Ave. or even higher at Extell’s Central Park Tower.