123 Third Avenue ramps up its marketing efforts with an ad facing away from traffic

There's a new ad up for 123 Third Avenue, the high-rise condo on Third Avenue and 14th Street. (Or, "East Union Square"...) The ad promises the sale center is coming soon... The 123 Web site still says sales office "opening late fall 2009."



Anyway, seems like kind of an odd spot for an ad -- especially given that it faces away from the traffic on the one-way 10th Street between Fourth Avenue and Third Avenue...



Anyway, this 19-story, 47-unit condo will include a ground-floor garden and outdoor movie screen. The developer of 123 is Orange Management, which currently has its hands full with the 22 Renwick property...

For further reading:
3 angles on 123 Third Condo (A Fine Blog)

Easy as...123 Third Ave. rises

At the same time we notice that the new 18-story glassy condo is finally (and quickly) taking some shape on the southeast corner of 14th Street and Third Avenue...




(No Web address listed. But a phone number. Handy!)



...the Times comes along with a piece saying that basically all of 14th Street east of Third Avenue is pretty much doomed now. As the paper notes rather ominously.

Still, the stretch bordering the East Village, east of Third Avenue, existed as a relative time capsule. Discount clothing stores still dot blocks as they did when the area was a popular middle-class shopping district, side by side with 100-year-old brick tenements.

But stirrings of change are noticeable in the neighborhood, say brokers, business leaders and developers, many of whom are betting that renewal will continue its march along 14th Street.

A 19-story condominium rising at Third Avenue from the site of a former tanning salon may be a sign.

The article goes on to say how much the condos will cost, that a Capital One is going in the retail space on the ground level, etc. Doomed as doomed can be.



Previously on EV Grieve:
Stopping work at 123 Third Ave.

Like clockwork, 123 Third Avenue on time, pretty much

So, we've been watching the work on the southeast corner of 14th Street and Third Avenue (aka "East Union Square") starting in April 2008, when the sidewalk shed started going up... and the Tanning Zone came down ...



Workers demolished the two-story building, and the future 123 Third Avenue started going up in the fall of 2008...



September 2009...



The signs said all this would be done by May 1, 2011. (Yeah, right!) Which was Sunday.

So how did they do? I took these shots on April 30...

And now, the sidewalk shed is gone...

Given the number of stalled and dead projects, 123 stayed on track. (Curbed looked at 123's rendering vs. reality last week.)

And as this penthouse party invite* for last night shows, 123 has sold 90 percent of the units... with some $3.6 million (and up!) penthouses left to scramble for...

Not bad for something that looks like the dorm across the street, though with better amenities.

* The 123ers did invite me, though I couldn't attend you know.

Claim: 123 Third Avenue Reaches 'Sales Milestone' in 'East Union Square'

That's the word from the site Uniques Homes. According to the site:

After just two months on the market, 123 Third Avenue, the 47-unit condominium located on 14th Street and Third Avenue in New York City, is 55-percent sold. Following a sales launch in early September, 26 homes are in contract at the latest residential addition to East Union Square, reports exclusive sales and marketing agent Corcoran Sunshine Marketing Group.

And!

The team surpassed the 50-percent mark at remarkable speed, which “speaks volumes to the desire for homes of this caliber in East Union Square,” said Elaine Diratz, of Corcoran Sunshine Marketing Group. Set at the nexus of Union Square, Greenwich Village, the East Village and Gramercy Park, East Union Square contains some of the best dining, parks, entertainment and shopping. The famed Greenmarket, Momofuku, Pure Food & Wine, Kiehl’s, and ABC Carpet & Home all provide the quintessential shopping and dining experience. New York is a cornucopia of different neighborhoods, but none with more “best of’s” than in East Union Square.

Easy as 123, apparently

The Post today looks at how some new developments managed to survive during these challenging economic times... and they feature our very own 123 Third Avenue ...now coming to life at 14th Street and Third Avenue in East Union Square ...


Per the article:

“People aren’t buying from paper anymore, they want to see what they’re getting,” says Corcoran Sunshine Marketing’s Henry Hershkowitz, sales director for 123 Third Ave. ... “You don’t want to wait until it’s totally done; you just want the tools to sell it.”

At 123 Third Ave., Hershkowitz has been able to put more than 80 percent of the units into contract. Condos start as low as $600,000 and go up to $4.525 million.“More than 50 percent [of the building is made up of] one-bedrooms,” Hershkowitz says. “They sold quickly. They’re all sold out.”

And $600,000 is considered "low?"

Previously.

123 Third Ave. retail space sells for $11 million

From the EV Grieve inbox ...

[An EV Grieve file photo]

RKF Investment Sales & Advisory Services (RKF) recently completed the sale of the 2,928-sf retail condominium at the base of 123 Third Ave., the 19-story new residential condominium building situated at the southeast corner of East 14th Street in Union Square. The 123 Third Ave. retail condominium, which features 126 feet of wraparound frontage, is fully occupied by Capital One Bank and was sold for $11,050,000.

RKF Executive Vice Presidents Jeff Fishman and Ariel Schuster, along with Director Brian Segall and Analyst Jonathan Butwin, served as the exclusive agents for the seller, 123 Third Avenue Partners, LLC, and also represented the buyer, a private investment group. RKF Investment Sales & Advisory Services is the investment sales division of industry leader RKF.

“This is a rare opportunity to purchase a new-construction retail condominium fully leased on a prime corner with consistently high pedestrian foot traffic and proximity to a nearby public transportation hub in Union Square,” said Fishman.

Previously... and previously.

A few more details about renting the former Capital One® on 14th Street and 3rd Avenue

The for rent signs arrived at the former Capital One® branch on the southeast corner of Third Avenue and 14th Street way back in early September.

And we've been waiting patiently for the listing to arrive online at RKF ... and that blessed event finally occurred yesterday.

Well, there's not a whole lot to the listing (like the monthly rent)... here ya go:

SPACE
Ground Floor — 3,000 SF

POSSESSION
Immediate

TERM
Sublease through December 31, 2025

FRONTAGE
40 feet on Third Avenue
85 feet on East 14th Street

NEIGHBORS
5 Napkin Burger, Duane Reade, Dunkin’ Donuts, New York Sports Club, P.C. Richard & Son, Raymour & Flanigan, Sleepy’s, Trader Joe’s, Westside Market

COMMENTS
Immediately adjacent to the Third Avenue subway station serving the L train with annual ridership of 2,386,533 (Ed note: Hopefully it will be a business that can stay afloat for 18 months starting in 2019 when the L train shuts down.) Located at the base of a 19-story luxury condominium building

The Capital One® closed in July with the big move to 14th Street and Broadway.

Previously on EV Grieve:
Exclusive first look inside the new Capital One® bank branch at 123 Third Ave.


[Exclusive photo from September 2011]

123's sales office moves out; Prime moving up?

On East 10th Street, it appears the 123 Third Avenue sales team has packed up and moved out of the office that opened here last July.

Before!



Now!

...taking the 123 signage with it...

Makes sense now that the 123 Third Avenue tower is like 90 percent sold. As Jeremiah pointed out recently, Prime & Beyond — a cross between "Peter Luger and Chipotle" per Zagat — is taking over the long-dormant space that previously housed Danal.

One rumor: The Prime folks downstairs will be taking over the 123 space upstairs.

Previously.

Living local: Here comes the 123 Third Ave. sales center!

So the new condo going up now on the corner of 14th Street and Third Avenue (East Union Square!) looks to be ready to unveil the sales office ... it's on 10th Street between Third Avenue and Fourth Avenue... (near the home of the 10th Street Scribbler!)

Given the paper on the front windows, it's likely not open just yet...




Still. Let's take a look inside!

So. First things... I guess "Live Local" is their catchphrase of choice. I mean, you're technically living local no matter where you live, right? (Curious if anyone suggested, say, Livin' la Vida Local?)



And what does living local entail? Well! Whole Foods! The Strand! Paragon! The Coffee Shop!



... and Gramercy Tavern? That's a mere six-plus blocks away! (And phooey on your Union Square Cafe, Danny!)




... and they subscribe to the Times...(Take that Wall Street Journal!)

I guess it all makes sense now why the 123 ad went up here back in January ...



Still no prices just yet on the 123 website.

A few questions for spring

Food and real estate edition

1) When will the escalator renovations at the Zeckendorf Towers be completed on Union Square? (Now entering the third year...)



2) When will the 123 Third Ave. sales center open?



3) What will happen to the southwest corner of 14th Street and Third Avenue?



4) Who will post the first bill on the sidewalk shed on Seventh Avenue and Avenue A?



5) When will Diablo Royale open at 167 Avenue A?



6) Will anything happen with the long empty building that housed the former Angelica's Herbs on First Avenue and Ninth Street?




7) Who will be the new owners of Superdive, and will they keep the same keg-service concept?



8) Who will be the first to introduce the 89-cent slice?



9) When will we see more of Veselka on the Bowery?



10) Will Duane Reade expand into the basement space of the former Dolphin Gym on Avenue B?



11) Will Cabin Down Below do something about its stairs?



12) When will Curbed get the sordid details of the first beserk A Building pool party of the 2010 season? (My guess: June 2)



13) When will the Village Green gym show itself?



14) Will the Cooper Square Hotel keep the noise down this season? ... Or! When will we get the first installment of Notes from the Backside at the Cooper Square Hotel this season? (My guess: April 27)



15) When will the Pita Pan Sports Grill at Second Avenue and Sixth Street open?

Easy as: 3 units in 123 Third Ave. now in contract

Well, we barely even had time to look over the available units at 123 Third Avenue, that new tower of condo going up in East Union Square at 14th Street. (It's the one up there on the left — I get them mixed up too...).

Curbed just brought the news that the units were on the market back on Aug. 30 .... And now! A quick look at StreetEasy finds that three of the available homes are already in contract. Hmmm.....



Fear not if you were slow to act... 10 units remain for purchase, including the big honkin' penthouse for $3.7 million that provides unobstructed views of ConEd... and, presumably, our friends down at Robin Raj...



Previously on EV Grieve:
Living local: Here comes the 123 Third Ave. sales center!

[Top photo by Blue Glass]