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New Development Round Up

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    New Development Round Up

    By admin | Uncategorized | Comments are Closed | November 17, 2011 | 0

    A very quick New Development Round-Up.

    There have been some very interesting properties which have hit the market in the last few days.

    I will be seeing: 130 w 12th, 374 Broome very soon.
    We’ll touch on a building which I had seen last year, and revisited with a customer recently.

    The Dillon, 425 West 53rd.

    As with many new projects that survived the downturn, the Dillon is now about 65% sold out.

    The finishes are modern, those units facing the street benefit from terrific light, and it has a feeling of space and air that seems to be achieved from a very light palette.

    Worth a look.

    The sponsor is negotiable as well.

    One neat item- the parking spots are for sale for $150,000 each (also negotiable, I believe).

    They are deeded, which like some parking in Tribeca I recall- you can sell them independently of the property you own in the building- I do not think they will sell to you if you do not own in the building (right now), but with common charges of $123/month for the parking, it works about to about $500 parking- and you can lease the spot to a friend if you wish.

    Interesting, anyway!

    Parking not included, but for sale @ $150,000 each


    77 Reade– sometimes the light palette doesn’t work that well.

    I felt this way about 77 Reade.

    Something about the finishes didn’t grab me. Perhaps the contrast between the brick facade and the interiors.

    Something didn’t match up in my mind.

    I had seen this in the summer and then revisited recently.

    Not a love affair.

    I feel that 57 Reade will ultimately be a bigger success.

    New construction needs to own what it is, and some context for interiors rooted in a partial old, partial new construction like 77 Reade makes for a challenge.

    The Morellino, 159 w 118th.

    While I am a huge fan of 2280 Frederick Douglass Boulevard- other new buildings in Harlem have just not done it.

    The Morellino, which came out of the box a few years ago, has made a new push.

    I’m just not in love.

    There is a mismatch in pricing and quality of finish.

    Perhaps they are negotiable on pricing.
    More to come next month.

    Thanks!

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