Friday, 22 July 2016

Hudson Yards's First Batch of Condos Will Start at About $2M

The apartments at 15 Hudson Yards will be relatively modest

Sales at 15 Hudson Yards, the first residential skyscraper within the megaproject remaking Manhattan’s west side, aren’t expected to launch for a few more months, but new details on pricing for its 285 market-rate units has emerged.

The Real Deal got a look at the condo offering filed with the Attorney General’s office, which shows that apartments will start at around $1.92 million for an 843-square-foot pad, and rise to $32 million for the two penthouse units atop the supertall skyscraper. A good chunk of those units—more than 200, in fact—are asking less than $7 million.

As TRD points out, the pricing is relatively modest when compared to some of the building’s obvious competitors—the luxury towers along Billionaires’ Row being the most obvious example. The penthouses in particular are more in line with the cheaper units offered at buildings like Ian Schrager’s 160 Leroy Street, or 10 Sullivan downtown, both of which broke up larger, more expensive units. (If you can call a $32 million condo "cheap," but hey, in this world.…) According to a Related spokesperson, the pricing was done with the goal of "achieving quick absorption in all portions of the building," i.e., actually selling the apartments rather than having them sit on the market for years.

The building will also be home to approximately 100 affordable units, though pricing details haven’t yet emerged on those.

Revealed: Prices at Related’s 15 Hudson Yards [TRD]

15 Hudson Yards Could Launch Sales As Soon As This Fall [Curbed]


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