Architecture and development firm Flank is pushing the price standard in Nolita, after putting two condos under contract for more than $3,300 per square foot.
Flank sold Unit 5 at 224 Mulberry Street for $11.25 million and Unit 6 for for $10.75 million, principal Tim Crowley told The Real Deal.
Unit 5, a 3,167-square-foot, three-bedroom duplex, sold for its asking price of $10.75 million, or $3,394 per square foot. Unit 6, a 3,392-square-foot unit, sold for close to its asking price of $11.25 million, or $3,316 per square foot.
If not record breaking, Crowley described the recent sales as “certainly flirting with records.” Flank also put the building’s 6,000-square-foot retail space under contract for close to its asking price of $17 million, Crowley said.
“While Nolita hasn’t seen a lot of high-end projects previously, it’s a neighborhood people are interested in,” said Crowley.
In all, the eight-story building has six units, each with two parking spaces, and prices ranging from $10.75 million to $30 million for the four-bedroom duplex penthouse – prices Crowley previously described as “unapologetically high.” Sales launched September 22, which is when Flank put the just-sold units on the market.
Crowley said Flank is now listing a 4,160-square-foot, four-bedroom simplex with 14-foot ceilings, with an asking price of $13.5 million.
Flank has been building oversized condos in boutique buildings, including 224 Mulberry, as well as a 12-unit building at 385 West 12th Street.