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Developers look to basements to create larger units
Some developers are now using basement space to create duplex and triplex apartments. At the Chelsea Modern, at 447 West 18th Street, a dentist moved into a 2,200-square-foot basement apartment, for which he paid less than $1,000 a square foot. Prices in the building are around $1,400 a square foot. At Lux 74, at 433 East 74th Street, there’s an $8.2 million triplex for sale with a basement level that has an indoor pool, sauna, screening room, wet bar, recreation room and laundry room.