[One Manhattan Square]
An analysis by The Real Deal published yesterday shows that the Lower East Side and the East Village have the second-highest number of condos on the market or in the pipeline when compared to all Manhattan neighborhoods.
In total, that makes 1,004 new units.
The is a big HOWEVER however.
It should be noted ... that its inventory count is significantly bolstered by one massive project: Extell Development’s 815-unit One Manhattan Square — the biggest condo development in Manhattan by unit count.
But some argued that sweeping the glassy condo project, which sits at 252 South Street in the Two Bridges section, in with Lower East Side inventory doesn’t make sense. They argued that the tower — which is shooting for a $1.9 billion sellout — is simply not in competition with the other inventory there.
As The Real Deal noted, Extell reported that it has sold 15 percent of its units. "And it’s going after a mostly Chinese clientele."
The published results of the analysis did not mention who was No. 1 on the list of condos on the market or in the pipeline.