Wow, this is fantastic news! Hopefully you're right RW. I said this before, and the article mentions it, but this is about as prime a spot as is humanly possible, there is no reason whatsoever the developer wouldn't build this to a max height.
Here's a real quick article on the booming high end condo market in NY right now. Hopefully this means that Tower Verre, 56 Leonard, etc will get going soon as well!
"RAPHAEL DENIRO (The DeNiro Group @ Douglas Elliman)
I'm seeing well priced, turn key properties, move very quickly. Particularly full service buildings in "A" locations. Mostly "all cash" deals. The only thing that matters in Manhattan high end real estate is, how the DJIA is doing on a given week, despite whatever is happening in Japan, Southern Europe, or the rest of the U.S.
NIKKI FIELD (The Field Team @ Sotheby's International)
I returned last week from a sales trip to Beijing, Shanghai and Hong Kong. The Chinese appetite for Manhattan Residential Real Estate is exploding. International buyers consider the NY market a stronger investment opportunity than other global capitals. A recent International market survey determined that residential values in Manhattan are -18% below London, -54% below Moscow and a whopping -94% below Hong Kong. No wonder the Chinese are taking advantage of the current market correction here. Their target is predominantly the over $5m market. They are purchasing for personal use as well as income investments. My 12 day trip has delivered a dozen deals in play to date.
With 1 European investor, I currently have in contract 3 brand-named condo deals: $7.5m, $13.3m and $15m. All selected during a 2 day shopping marathon.
Regarding my own exclusive listings inventory, I have closed or have in contract in Q1, 9 exclusive properties. A number of these listings had been languishing on the market for close to a year. In some cases, price corrections were surgically administered, but none were signed below fair value.
FREDERICK PETERS ( (Frederick Peters @ Warburg Realty)
I can't yet give you specific apartments. But overall, we are seeing that properties with trophy qualities, including, size, view, condition, and/or location, seem to be commanding prices 10% to 15% higher than they were at the beginning of the year. Many of the top pre-war buildings are seeing sales price as high or higher than at the peak of the market, with price records being set in building after building. One thing after another selling in overbids. One simply cannot believe it.
DEANNA KORY ( (Deanna Kory Team @ Corcoran)
"The high end market on CENTRAL PARK WEST is super strong. $7M+ is selling @ record prices and really quickly. I am having a bidding war on a near $10M apartment. With 4 bids over ask in 5 days!"
YUVAL GREENBLATT( (Manager @ Douglas Elliman)
It's funny you ask because only yesterday an agent in my office expressed concern that there wasn't much inventory in the very high end. Generally speaking, the 5mm+ market has been substantially active with few quality listings available. An example of activity within the past week is a CPW listing of ours that went quite a bit over the ask."
http://www.urbandigs.com/2011/04/hig...agers_are.html