Posted Jul 13, 2023, 7:50 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 52,000
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No news on this particular development, but the following shows Downtown can be attractive with the right product, even now…
https://www.costar.com/article/93108...-at-full-price
Here's Why This New York Condo Tower Is Selling Out — At Full Price
130 William St. Reaches Over 90% Sold With Building Loans Paid Off, Developer Says
By Andria Cheng
July 13, 2023
Quote:
Even as higher mortgage rates and economic uncertainty slow New York property sales, a newly opened luxury residential tower shows that buildings with a unique design and appealing features can withstand market whims: This building is not only mostly sold, but it has done so after price hikes and with no discounts.
The 66-story condo tower, rising 800 feet and located at 130 William St. in lower Manhattan, has stood out by evoking New York’s history of classic masonry architecture. It's a contemporary take manifest in lava-like textured hand-cast concrete façade that differs from new modern glass towers that are a common design theme in Manhattan and elsewhere…..
All the transactions were at full price, even after the developer raised unit prices some 19 times. He said the building’s loans have long been paid off. “It’s a great project for us,” Avram said, adding the tower was the best-selling condo building in the city during the pandemic.
Pricing at 130 William spans from under $1 million for a studio to $20 million for a penthouse, according to Corcoran Sunshine Marketing Group, the brokerage exclusively handling sales and marketing for the property.
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