Posted Aug 25, 2017, 1:13 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,747
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https://www.nytimes.com/2017/08/25/r...ory-condo.html
In NoMad, a 55-Story Condo Tries to Peek Out From the Pack
By C. J. HUGHES
AUG. 25, 2017
Quote:
.....This $470 million project’s offering plan was approved by the state’s attorney general on Aug. 18. One-bedroom units, which start at about 830 square feet, are priced from $1.9 million, while two-bedrooms, which start at about 1,340 square feet, are $2.8 million and up.
Put another way, sales prices at 277 Fifth, excluding the penthouses, average about $2,700 a square foot. The building is supposed to open in about a year.
In contrast, the nearby 212 Fifth Avenue, a new 48-unit condo in a former office building from a development team led by Madison Equities, has been selling its apartments for about $3,700 a square foot, said Robert Gladstone, Madison’s chief executive. The building, which reaches from Fifth to Broadway, is about 75 percent sold since 2015, added Mr. Gladstone, whose office is also in NoMad.
“What we have found is what others have found, that when we don’t have a view of the park, we are looking at beautiful buildings,” he said.
While tall buildings may thrill view-seekers, they rankle some neighbors, in a neighborhood that until a decade ago was mostly a sleepy commercial district, said Mario Messina, a 37-year resident and the president of the 29th Street Neighborhood Association.
The group, with about 350 members, was founded in 2012 to spare a prewar building on West 29th Street from demolition, though it was later razed, and the group is currently pushing to extend the boundaries of an existing historic district to keep new towers at bay. “What we are asking is not far-fetched,” Mr. Messina said.
Developers “want to turn us into a new Dubai, in New York,” he added. “It’s a mess.”
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