[Photo from Saturday]
The New York Times checked in yesterday with a piece on the NYC condo market... while the market for $100 million mansions in high rises along 57th Street may have vanished, "sales at the other end of the new development market have been brisk."
Prominently mentioned in the article is Steiner East Village, developer Douglas Steiner's condoplex rising on Avenue A at 12th Street. Not exactly giving it away here. The 7-story, 82-unit building officially at 438 E. 12th St. features homes starting at $1.1 million... with the 4-bedroom penthouse with 1,364 square feet of terraces that's asking $11.25 million.
[W]hile prices in the building, which average $2,100 a square foot, are hardly a bargain in the East Village, which has very little new development, they can seem inviting compared with other downtown neighborhoods. [Broker Fredrik] Eklund said the building has drawn a number of buyers from the West Village and TriBeCa, some of the most expensive areas in the city, where inventory under $5 million is hard to come by.
“I think we’re setting a new high market for condos in the East Village, but compared to the rest of downtown, people understand that they’re getting a value for Manhattan,” said Douglas C. Steiner, the chairman of Steiner NYC.
Amenities in Stei Town include a 24-hour lobby concierge, 50-foot long pool, spa, gym, library, playroom, parking and, in some cases, views of a 7-Eleven.