Quote:
Originally Posted by Zerton
Is this area really that desirable? There's no street level retail because it's cut off from E Broadway by those old GI/public housing buildings that don't have a street wall or ground level retail, the M line subway station isn't that close. It's not a "cool" area for many reasons. I just don't really see how they could command high prices to recoup 100 story buildings at that location. But I guess I'm not in NY real estate.
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Its also the views. NYC is one of the few cities that you could build a brown stained tower with superior blank wall coverage, and depending on the location, it will command top dollar, even for a mud-laced blank-wall that extends 400' on three corners with the 50' setback from the street surrounded by a Crown Fried Chicken and a 99 cent Dr Jarome Shoes outlet.
Manhattan in general is desirable. Views of the East River, even if not the Hudson... command top dollar. Overtime, this area will be molded into prime territory, its just the vile NIMBYS and their Phase 1A residents make it tough.
Quote:
Originally Posted by Crawford
For Manhattan standards, no, it isn't a prime area. But you could never build this in a prime area. Those areas are NIMBY-fied to death and are either landmarked or downzoned.
It's the same basic location as Extell's nearby tower, and Extell has prices starting at around $1.4 million for a one bedroom (and $13 million+ for the penthouse floors) so I imagine the developers will do quite well. But prices will never approach Billionaires Row, obviously.
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Crude dark humor, but the way these vaccine rollouts are occurring (botched up), the NIMBY issue might just resolve itself.