Time Equities launches sales at 50 West

Nearly a third of of units sold during preliminary "quiet period"

New York /
Jul.July 07, 2014 02:35 PM

Time Equities has launched sales at its 64-story luxury residential tower at 50 West Street and Rector Street. Following a 30-day pre-sale period, 30 percent of the building’s 191 units have already sold.

The average selling price at 50 West so far has been $2,400 per square foot, according to a release from the developer. The most expensive units, which sold for $5,000 per foot, were half-floor penthouse homes, while one-bedrooms on lower floors have gone for as low as $1,400 per square foot. Prices per unit start at about $1.6 million.

The residences range from a 1,045-square-foot one-bedroom condominium to a 9,000-square-foot, five-bedroom duplex penthouse. Thomas Juul-Hansen is the interior designer for the building and was one of the buyers during the pre-sale period.

The exterior of the building, designed by architect Helmut Jahn, offers panoramic views of the New York Harbor, Hudson and East rivers. Amenities include a rooftop lounge, children’s play areas, fitness and pool facilities. The third floor includes 15 commercial condominiums, which can be purchased by residents and used as office space, BrickUnderground reported.

Roberta Axelrod and Javier Lattanzio are handling sales in-house for Time Equities. The developer announced in February that the Marketing Directors would consult on sales and marketing for the building.

The building is scheduled to be completed in 2016. Time Equities closed on $400 million in financing for 50 West last summer. [BrickUnderground]Tom DiChristopher


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