Middle-of-the-block condo projects now front and center

Side street developments almost as expensive as corner lots

TRD NEW YORK /
Sep.September 22, 2014 01:10 PM

Side streets are getting more popular as locations for upscale condo developments

Those streets — which were once a second choice behind the city’s sprawling avenues — are now much sought after by developers. Prime locations on avenues have mostly been developed and buyers’ tastes have developed, which makes investors and developers — and ultimately those looking for a home — more willing to pay high prices in the middle of the block, according to Crain’s.

“For buyers, it’s more about the neighborhood now than their exact location in it,” Kevin Maloney, chief executive of development firm Property Markets Group, told Crain’s. One such popular mid-block project is Michael Stern’s Walker Tower on West 17th Street.

Prices for the midblock locations are also up, with buyers and investors willing to spend more money. At a midblock development at 455 West 19th Street between Ninth and Tenth avenues that was sold earlier this year, prices reached $825 per square foot, according to Crain’s. [Crain’s] — Claire Moses


Related Articles

arrow_forward_ios
133-25 37th Avenue in Flushing

Developer Gary Tsan buys Flushing property for $60M

South Carolina town puts moratorium on development (Credit: iStock)

The high cost of low taxes: South Carolina town bans all development for 16 months

U.S. Rep. Alexandria Ocasio-Cortez and Sunnyside Yards (inset) (Credit: Getty Images and Wikipedia)

AOC resigns from Queens megadevelopment steering committee

Donald Trump with Rep. Emanuel Cleaver II, Rep. Ron Kind and Sen. Cory Booker (Credit: Getty Images, iStock)

Trump’s Opportunity Zone program is under investigation

The agreement was signed today at UBC’s New York Council offices in Manhattan by Nathan Blecharczyk, Airbnb co-founder, Chief Strategy Officer, and Frank Spencer, General Vice President of UBC.

Airbnb hammers out partnership with carpenters’ union

A rendering of Empire Station with Governor Andrew Cuomo and JDS Development's Michael Stern (Credit: Getty Images, JDS)

Recycled ideas? Penn Station plan similar to JDS 2016 proposal

Fotis Dulos (AP Images/ Erik Trautmann)

Connecticut developer Fotis Dulos charged with murder

Pier 40 and Gov. Andrew Cuomo (Credit: Wikipedia and Getty Images)

Cuomo kills Pier 40 redevelopment plan

arrow_forward_ios
Loading...