Vince Rocco (top) and Shane Shimon of Blu Realty Group, 505 West 47th Street and its outdoor courtyard
For the second time in five years, the same Hell’s Kitchen condominium has sold out. The building’s exclusive sales agent, Blu Realty Group’s Vince Rocco, told The Real Deal a buyer closed last week on a one-bedroom apartment at 505 West 47th Street. The unit, which sold for $790,000, was the last available apartment at the 108-unit condo. [more]
In advance of the Out NYC hotel’s website going live today, Curbed got its hands on the renderings of the city’s first gay hotel. Curbed said that while it had heard the hotel opening wasn’t slated till summer 2012, it might open sooner.
The hotel, which according to its website is a “straightfriendly” boutique hotel spanning 70,000 square feet, will have 105 rooms, a nightclub, a 5,000-square-foot wellness center, courtyards and a 24/7 café & restaurant. Parkview Developers announced in July that the hotel was under construction, asThe Real Deal previously reported, at 510 West 42nd Street, between 10th and 11th avenues. [Curbed] [more]
Mortgages remain elusive for house hunters in New York and as a result,
many buyers are working with more than one lender. Developers are also
lining up additional lenders to help buyers obtain financing. The developments come in response to the tough credit environment.
Banks have tightened the availability of home loans to buyers and at
the same time, many are reluctant to write mortgages for some new
buildings where only a small percentage of apartments have been sold. As attorneys for buyers are putting mortgage contingency clauses in
contracts, attorneys for sellers are directing buyers to apply for
financing at more than one bank or go to a mortgage broker, said Daniel
Berman, an executive vice president with Bellmarc Realty, who has seen
the scenario play out in a few recent deals.
[more]
