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. Â 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.
