Soho sanitation facility discourages buyers

TRD New York /
Jul.July 06, 2010 01:45 PM

330 Spring Street

Unsold listings in the Urban Glass House, the 330 Spring Street condo
that was architect Philip Johnson’s final work, may be attributed to
the city’s plans to build a garage for the Department of Sanitation
across the street, New York Magazine reported. Nearly a third of the
building’s 40 units were bought within weeks of its 2005 debut, but not
one apartment has been resold in five years. Six have been on the
market for months and four have been marked down, by 17 percent from 6
percent. Most are asking about the same or below their original selling
price. According to Streeteasy.com, sales at nearby buildings just a
few blocks away are doing better. Even though the garage will only be
handling trucks, and not trash, the facility is a “psychological
barrier” for potential buyers, said Core sales agent Tom Postilio.
“They hear sanitation and they get scared,” agreed Adrian Noriega, a
sales agent at the Corcoran Group. Early this year, a judge dismissed a
lawsuit filed by neighborhood groups to stop the garage, and the
construction contract is already under review, with a September start
date on the table. [NY Mag]

 

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