Ron Moelis and PS90
The first two closings at Harlem’s PS90 have hit public record, and thus far, it looks like prices for L + M Development Partners’ market-rate units are holding up exceptionally well.
A 1,630-square-foot, two-bedroom penthouse with a private outdoor terrace at the formerly abandoned elementary school closed last week for its original asking price of $899,000, according to public records filed today with the city. And a 1,470-square-foot, two-bedroom unit, originally listed for $720,000 in January, closed Sept. 16 for $700,000, marking less than a 3 percent discount, according to the deed.
Data from Streeteasy.com shows that two more units have closed but haven’t yet been recorded with the city, and an additional 11 units are listed as in contract.
Ron Moelis, CEO of L + M, told the New York Times last month that sales had picked up at the converted 220 West 148th Street building once construction was completed in July. “I wouldn’t say that sales have been slow, but I think people want to buy something they can move into and they can see and feel,” he said.