Fifteen Madison Square North sells out

TRD New York /
Aug.August 12, 2010 11:00 AM
From left: Fifteen Madison Square North, living room of unit 17AB, the building’s children’s playroom and the fitness center

Fifteen Madison Square North, a 69-unit condominium conversion, has been completely sold, according to Corcoran Sunshine Marketing Group. The condo achieved an average sales price of $3.59 million, one of the highest averages to date for a development in the Madison Square Park neighborhood, Corcoran said. The average price-per-square foot was $1,497. Sales were completed in two phases; phase 1 launched in June 2006 and was sold out in April 2007, while phase 2 launched in November 2007 and is now complete. Closings began in July 2008. Over the past 12 months, 17 contracts were signed and 23 units closed. The highest priced residence in the building was 16BC, which closed for $12.16 million in April 2009 at $2,356 per square foot. The sale of residence 17AB — which closed for $12 million in January 2010, $2 million above the asking price — was named Corcoran Sunshine’s Deal of the Year. The property was developed by Walter & Samuels, in conjunction with RREEF’s Opportunity Funds Group, the real estate division of Deutsche Asset Management. Residences at the building feature14-foot-high ceilings, oversized windows and views of Madison Square Park. Designed by Daniel Goldner Architects and Nathan Egan Interiors, residences boast kitchens by Arclinea and bathroom finishes by Waterworks. TRD


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