West 30th Street condo poised to hit market

New York /
Dec.December 22, 2011 01:55 PM
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From left: Gabriel Bullaro, an exterior photo of the Davos and a picture of a kitchen in the condo

The Davos, a ground-up condominium project near Herald Square, is less than a week away from getting its offering plan approved and will hit the market immediately after, according to Gabriel Bullaro, the independent broker who was tapped to market the development.

Located at 143 West 30th Street between Sixth and Seventh avenues, the Davos has 15 stories comprised of 24 one-bedroom apartments below two duplex penthouses. There are two units per floor, each measuring approximately 700 square feet with its own balcony. Prices will start at $895,000 but have not been finalized for upper-floor units, according to Bullaro. There’s also a ground-floor commercial space that Bullaro will market.

Developer Midtown Stage is awaiting attorney general approval for the condo’s offering plan, Bullaro said, which the developer expects to get within a week. Once that’s secured, the units will immediately hit the market.

Bullaro said he and the developer have their eye on foreign buyers.

“What I’ve come to understand is that foreign buyers like new construction and low common charges, and that’s what we have here,” he said, declining to give specifics about the common charges until AG approval is secured.

Bullaro, a real estate attorney with a broker’s license who works largely in the Midtown South area marketing commercial, retail and residential properties, said he expects the development to benefit from the increasingly residential character of the neighborhood. He pointed to the recent rezoning efforts, the many hotels in the neighborhood and recent amenity-laden rental additions, the Beatrice (which is part of the Eventi Hotel) and the Continental.

The Davos is Bullaro’s first new development marketing project. He secured it thanks to a longstanding relationship with the developer, who previously enlisted him to market other commercial and retail properties in the neighborhood. — Adam Fusfeld


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