Griffin Court in Midtown sees surge in sales

August 05, 2011 02:16PM

Alchemy President Ken Horn and Griffin Court

The Griffin Court Condominium in Hell’s Kitchen is seeing a surprising
surge in sales, according to the
property’s developer Alchemy Properties, which is marketing the
building with Halstead Property.

Sales went from 15 percent sold to 50 percent sold with the closing of 20 units
in the last two months at the building. In
May and June alone the Alchemy Properties sales
team said it has secured 25 sales in the 95-unit building at 454 West 54th Street.

Following that success, seven lenders have approved Griffin Court for
end-loan financing for up to 80 percent for qualified buyers,
according to a statement from Alchemy. “Manhattan hasn’t seen many
residential sales spurts like this lately — and we’re excited to see
the new movement happening at the building,” Kenneth Horn, president
of Alchemy, said in the statement. The building now has 18
additional units under contract and 16 closings scheduled for
August, Alchemy said. Streeteasy.com indicates that 16 sales have closed at the property.

Alchemy had slashed prices by 15 percent for 15 buyers at the property
in September,
and brought in Halstead Property to help it market the building at the end of June. The units hit the market in March 2010.  — Miranda Neubauer