After feud, Apthorp prices to fall
June 08, 2009 09:20AM
Alec Baldwin reportedly looked at an 11th-floor unit at the Apthorp
The feud between the Apthorp's owners, Africa Israel Investments and Mann Realty Associates, has ended, and the building's brokers are focused on selling the units. Howard Lorber, chairman of Prudential Douglas Elliman, said that prices will soon fall further at the Apthorp because sponsors have to sign up a number of buyers before September, the deadline set in the offering plan. Lorber said Elliman has eight to 10 deals in the works, including one potential buyer who reportedly offered less than $1,500 a square foot for a unit, a price so low the sponsors would have to go back to their lenders for approval. Asking prices at the condo building, located at 390 West End Avenue, have fallen to an average of $1,950 a square foot from $2,400 to $3,000. Some celebrities have reportedly been looking at the building, including actors Alec Baldwin, Sarah Jessica Parker and husband Matthew Broderick, and music executive Tommy Mottola. [NYT] and [Crain's]
The Real Deal reserves the right to delete any comment it finds to be rude, obscene, racist, sexist, bigoted, irrelevant or repetitive, as well as inappropriate comments about anyone's personal appearance. The Real Deal does not endorse any comments posted on its Web site nor does it verify the veracity of comments or the identity of posters.
Comments
Anonymous
no nore than $1000 per SF
Comment #1 Posted By: Anonymous 06/08/09
Anonymous
Another hilarious Elliman advertorial. No one buys this "celebrity" nonsense anymore.
Comment #2 Posted By: Anonymous 06/08/09
Anonymous
Why would someone sign a contract if the broker, Lorber, states that prices are going to be reduced even further?
Comment #3 Posted By: Anonymous 06/08/09
Anonymous
You can just smell the desperation! It's sad!
Comment #4 Posted By: Anonymous 06/08/09
Anonymous
What "celebrity" would park their money to live side-by-side with rent controlled and rent stabilized people in this building? Get real!
Comment #5 Posted By: Anonymous 06/10/09
Anonymous
I'm surprised Alec Baldwin permits brokers to use his name for marketing purposes. What is he getting back? Nooky, a lower price, what???
Comment #6 Posted By: Anonymous 06/11/09
Anonymous
May Cyndi Lauper be rent stabilized at the apthorp forever - sure she could not afford to buy there ...because girls just want to have fun-
Comment #7 Posted By: Anonymous 06/24/09
Anonymous
Alec Balwin probably gets an additional reduction of 10% so he can be used as advertising. Buyers beware looks and smells like broker shenanigans again. Alec shame on you. Like they need the discounts.
Comment #8 Posted By: Anonymous 07/07/09