FiDi condo conversion almost sold out

New York /
Jun.June 24, 2010 03:00 PM

Wendy Maitland of BHS and 88 Greenwich

Last week, 88 Greenwich in the Financial District closed on its 407th
unit, making it more than 90 percent sold, a milestone for the
452-unit condo conversion that’s been on the market since 2007,
according to the New York Post. Developed by Andrew Heiberger’s Button
Real Estate, many industry insiders originally thought the project would not succeed.
But the building, which has an additional 10 units in contract,
decided to do its conversion in pieces. Units on the top floors were
spruced up with luxury finishes and, as construction wound down, the
existing rentals on the first three floors were vacated and sold off.
Overall, sales prices have been relatively modest, with apartments in the
building getting less than $1,000 per square foot. The remaining units
are, for the most part, being sold untouched, with prices between
$449,000 and $1.05 million. One exception is the 2,086-square-foot
two-bedroom, three-bathroom penthouse, which had been rented for
$15,000 per month until a few weeks ago and is now listed for $4.175
million with Wendy Maitland of Brown Harris Stevens. [Post]

 

Related Articles

arrow_forward_ios
Rachel Glazer (Credit: BHS)
BHS’ top Downtown agent jumps to Compass
BHS’ top Downtown agent jumps to Compass
BHS’ chief of tech, communications out amid internal shakeup
BHS’ chief of tech, communications out amid internal shakeup
BHS’ chief of tech, communications out amid internal shakeup
Bess Freedman and Robert Reffkin (Credit: Studio Scrivo)
“Unequivocally not selling:” BHS accuses rival of stoking sale rumors
“Unequivocally not selling:” BHS accuses rival of stoking sale rumors
(Illustration by Kevin Cifuentes for The Real Deal with Getty Images, James Gagliardi of Modern Media)
PHOTOS: Brown Harris Stevens turns 150
PHOTOS: Brown Harris Stevens turns 150
(Getty)
Hamptons home prices dip, but North Fork’s hit another record
Hamptons home prices dip, but North Fork’s hit another record
Reed and Delphine Krakoff along with 54 East 64th Street (Getty, Google Maps)
Fashion bigwig sells townhouse for $36M after two price cuts
Fashion bigwig sells townhouse for $36M after two price cuts
200 East 83rd Street, Alexa Lambert, Alison Black, Shelton Smith
Naftali’s 200 East 83rd Street tops Thursday’s 10 priciest resi sales
Naftali’s 200 East 83rd Street tops Thursday’s 10 priciest resi sales
241 Water Street (Avison Young, Getty)
Blue Man Group’s Seaport school building hits market for $28M
Blue Man Group’s Seaport school building hits market for $28M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...