471 Washington Street
From the April issue: Eventually the Yard, a 12-story condo under construction in Long Island City, will have 83 units. But when Eric Benaim, its marketing agent, started showing it to buyers in mid-December, it was sparse — very sparse.
“We literally had nothing,” said Benaim, president of the brokerage Modern Spaces. “It was like a hard-hat zone. There were studs, only floors were in, it was freezing, no windows.”
The big news, he said, is that even in less-than-optimal conditions, 13 units quickly went into contract. Four more have followed, he said.
Meanwhile, at boutique condo 471 Washington Street in Tribeca, nine out of 12 units are in contract after less than two weeks on the market, developer Justin Ehrlich told The Real Deal. He said the project is only about 65 percent complete.
In today’s difficult climate, of course, it’s never certain that signed contracts will translate into closed sales. And though it’s still rare for buyers to purchase before a condo is finished, brokers and developers say they’re encouraged by reports of early sales at some new condo buildings. [more]
