Alphabet City spells luxury

New developments in Alphabet City are fetching ever-higher prices. At the Flowerbox building on 7th Street and Avenue D, for example, a triplex penthouse recently sold for $10 million. Brokers say that the area’s giant housing projects aren’t deterring buyers. “Buyers weren’t worried about Avenue D,” said Larry Carty of Warburg Marketing, the Flowerbox’s lead broker. “If anything, they were saying, ‘Where exactly is that?'” more [Sun]