Sales kicked off this week at 50 Clinton St., the 7-story luxury condominium project which is being marketed to “entry level” buyers willing to plunk down $1 million for their first New York City home.
A sales office is now open at 20 Clinton St. and the celebrity broker Fredrik Eklund has shifted his marketing machine into high gear. While prices start at just under $1 million, the units currently listed will cost you a good deal more. A 1-bedroom model, for example measuring 655 sq. ft. is priced at $1.3 million. You can pick up a 959 sq. ft. 2 bed/2 bath apartment for $1.8 million. There’s a larger 2 bed/2 bath unit (1190 sq. ft.) for $2.4 million.
The development site is, of course, the former home of acclaimed restaurant wd50 and several other local businesses. There will be 37 apartments with interiors designed by Paris Farino. Eklund is convinced that this type of high end project is the wave of the future in New York. Here’s how he explained it on his Instagram feed:
Two and half years ago my team realized there would be a shortage of inventory in the New York City new development arena priced under $5M. Today we know we were right. Some call it the tale of two markets, but I call it the future. Efficient units, beautiful finishes, amazing amenities… All priced right. Still setting records in price/sqft but outcompete the larger units in other buildings with more expensive price points. We will see a lot more of this type of product, and my team hopes to lead this reinvention with many new buildings this year.
DHA Capital purchased the development parcel for $28 million.