You better believe they are. If you thought the market was flatlining, think again. NY Post reports that the Lucida, the Upper East Side's first LEED-Certified Green Building on the southeast corner of 86th Street and Lexington Avenue, is approximately 69% sold after two months of sales! There have already been four pricing amendments and rumor has it that they are considering a fifth. Apartments in the family-friendly Lucida are fetching a staggering $1,953 per square foot. Who's paying these egregious prices? Lawyers and private equity hedge fund managers. Some are buying multiple units and combining them. I can't wait to see how the combined units appreciate in years to come. It will certainly be interesting to see. Apparently, the "sterile" Upper East Siders have been longing for the hip, glass-facade developments only seen south of 59th Street, until now.
Thursday, June 21, 2007
Are people really willing to pay $1,953 s/f?
You better believe they are. If you thought the market was flatlining, think again. NY Post reports that the Lucida, the Upper East Side's first LEED-Certified Green Building on the southeast corner of 86th Street and Lexington Avenue, is approximately 69% sold after two months of sales! There have already been four pricing amendments and rumor has it that they are considering a fifth. Apartments in the family-friendly Lucida are fetching a staggering $1,953 per square foot. Who's paying these egregious prices? Lawyers and private equity hedge fund managers. Some are buying multiple units and combining them. I can't wait to see how the combined units appreciate in years to come. It will certainly be interesting to see. Apparently, the "sterile" Upper East Siders have been longing for the hip, glass-facade developments only seen south of 59th Street, until now.
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2 comments:
Good news. May be such news can hold up a little for the property doom. Actually many peoples are interested for investment but they are afraid of loss, agents can convince them for investing in local, community based or overseas property like Brazil property. Good luck for real estate business.
Thanks for the news.. The rates are unpredictable..
Idaho Real Estate
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