It was a nice day to drop by.
20160326_153935 by Christopher Estevez, on Flickr
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Is this true, only 13 out of 141 units have been sold?
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Sounds like a bit of fearmongering to me… I’m not sure we can trust this it doesn’t exactly sound unbiased hahaha
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Ron Insana should read this:
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That’s good to know. But aren’t the units in 432 park avenue starting at 3 million minimum for the lowest levels? Would this article mean anything promising for units in the 10-50 million range?
We can’t worry about units above 50 million since those are just exceptions, not the standard.
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https://www.instagram.com/p/BEKP1U5iyLg/?taken-by=jonsevik
Sitting 1,400 feet above Manhattan by Jonsevik
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https://instagram.com/p/BEbb4kbS7J9/
@gbergphoto
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https://instagram.com/p/BEuM7Pvj6Ea/
@camilleschaer
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Nice!
America’s Cup
https://www.instagram.com/p/BFC50Pgl3g7/?taken-by=americascup
@americascup
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Hudson River
https://www.instagram.com/p/BFKfMx5zao5/?tagged=hudsonriver
@ianlewis888
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https://instagram.com/p/BFPsctPm6To/
@compass
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88th Floor ($76.5m) is now under contract.
What’s this I hear about doom & gloom?
https://instagram.com/p/BEcC_pypZvU/
@Indepth_nyc
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I guess if people are not waiting in lines to get 88 million dollar condos it is doom and gloom.
I think One57 only slowed down because people were waiting to see the other options before choosing. If you were going to drop 50+ mil and there were a lot of options wouldn’t you want to see how it all turns out before diving in?
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I completely agree. If you know that there will be newer products to be introduced,would you by that new…
Xbox920 today?
Wait until SONY releases that PS1000Ultra?
Or wait until Atari Tetra HD’s release 6mo from now, so you can make the best decision $$ can buy? Hehe
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They are exaggerating about the boom coming to an end. Yes, the ultra luxury sector has slowed down, but demand in the city is very high for almost everything else. And its still high for ultra luxury, just not like in 2014/15, but still enough to warrant the new slew of towers geared towards that sector. The media likes to spin it and make it seem like the whole real estate demand in the city is crashing down. Quite the opposite. The city itself is not even building enough to meet the demand. If anything, we need more towers and filings for new developments. At a minimum, 20k or so units a year. We really should be building close to a 100k a year if we hope to solve the housing crisis. Something De Blasio is not aggressive about. His housing plan is a joke. Its not going to fix anything. We need aggressive building and transit overhauls pronto.
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another thing I look at is that 432 Park is at 75% occupancy(which means developer has made a healthy return and the project was worthwhile for them). Which is also where One57 kinda stalled(they already have a 1bil+ net profit on that). It could be the prime units go 1st while the lower tier and highest tier take longer to fill. (like what it the point in being in a 1400 foot tower if your unit is on the 14th floor)
This is why I think Nordstrom tower will be very successful. Its got retail at the base, then it has a hotel in its low-midrise section, and the condos are all highrise.
Retail is about the consumer traffic in area and clientele in local area, hotels are about location(you dont stay in a hotel because of the hotel you stay in it because of where it is at, resorts are different of course), residencies where people live there and own the place have higher demand for things like views and being a location that they get that where elsewhere it is not possible.
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