Posted Apr 8, 2014, 4:09 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 52,838
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Quote:
Originally Posted by JayPro
Color me slow on the uptake; but what does this article have to do with the chances, if any, of this project rising as is now?
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Quote:
Originally Posted by Submariner
Well, I think the point is the article is painting a rosy picture for demand downtown. 56 Leonard is 90% sold, which is quite impressive given the price tags associated with these apartments. There is sure to be other demand elsewhere...
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And I thought it was simple. That's accurate, but more to the point...
Quote:
the Witkoff Group and partner Fisher Brothers are proposing a condo tower at 101 Murray St., the site of a former St. John’s University campus, that would feature large apartments. The firms are considering plans that would make it easy for buyers to combine units to create an even bigger space, Steven Witkoff, president of Witkoff Group, said in an interview.
The idea came after some buyers at Witkoff’s 150 Charles, in the West Village sought more than one apartment, he said. The 91-unit development sold out in 12 weeks last year at prices averaging about $3,400 a square foot, with condos on the upper floors topping $6,000 a square foot. Ninety-five percent of the buyers were from New York, he said.
“There’s a lot of very well-heeled, entrenched people who are prepared to pay to be down there,” Witkoff said.
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