Sales improve at Related and Hudson Companies’ Roosevelt Island condos

Jeff Blau, Related’s president, and one of the Riverwalk buildings

Sales are picking up at Related Companies and the Hudson Companies
condominiums known as Riverwalk — six of nine planned buildings that
have
sprouted on Roosevelt Island in the last several years. The
two-mile-long strip of land in the East River has become increasingly
residential, even though it has fallen short of the developers’
original “lofty targets,” the Wall Street Journal reported. Related
says more than 70 percent of the 123 condo units at Riverwalk have been
sold, although some are still on the market for less than their
original asking prices. A new 242-unit rental building is nearly full,
and the developers are phasing out earlier concessions like a month of
free rent. In 2007, a wave of new stores came to the Island, including
Starbucks, Duane Reade and several restaurants, The Real Deal reported. [WSJ]

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