what is todays $pSF new condo development in lower manhattan?

David H
Home Buyer
Brooklyn, OH

Answers (3)
Adina Greenberg
Agent
New York, NY

My answer is based on numbers I found.
Cipriani Club, 51 active sales listings: $1,551 per ft² (avg)
William Beaver House, 149 active sales listings: $1,644 per ft² (avg)
75 Wall St., 70 active sales listings: $1,340 per ft² (avg)
Downtown Club, 26 active sales listings: $1,143 per ft² (avg)
25 Broad St, 10 active sales listings: $1,130 per ft² (avg)
These are only some of the developments in the Financial District.
While prices per square foot are lower on Battery City, the Common charges are very high.There are 3 new condo developments in Battery City;
Riverhouse, 173 active sales listings: $1,384 per ft² (avg)
The Visionaire, 2 active sales listings: $1,233 per ft² (avg)
Tribeca Green (Rental building), 8 active rentals listings: $7,422 (avg price)

Mon Mar 3 2008, 12:02
Sang H. Oh
Agent
10005

On the contrary, the price per square foot in the Financial District/Lower Manhattan area is much lower than other neighborhoods. While other neighborhoods are able to sell at $1500-$2000 per square foot, the Financial District is averaging about $1100-$1200 per square foot. Battery Park City's average price per square foot is about $1250 for new developments and much less for re-sell properties. $1550 per square foot is an extreme figure and even the most luxurious developments have units that can be purchased for less than $1500 per square foot. When Silverstein completes his Four Seasons at 99 Church, maybe we'll be able to sell at that price point. For now, the Financial District is a great place to call home for a fraction of what you would pay to live in a similar building uptown.

Mon Mar 3 2008, 11:16
Adina Greenberg
Agent
New York, NY
FIRST ANSWER

There are 179 new developements in Lower manhattan, 19 in the Financial district area. An average price per square foot in the downtown area is $1,259.00 but the financial district's prices are higher. It's difficult to give you an exact number because when a developement just starts selling, prices are different then when they have sold already more then half. I checked some 6 developments and my average was around $1550 per square foot.
If you want a more detailed number and listings, please contact me at adina.greenberg@cbhk.com

Wed Oct 24 2007, 15:10

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