Extell's latest strategy is aimed at an audience that doesn't have billions to spend
News broke last week that Extell's One57, the skyscraper that launched the whole "Billionaires' Row" thing, would be turning apartments that were initially earmarked as luxury rentals into fully-furnished condos. Now, listings for those apartments—all located on either the 34th or 38th floor of the building—have arrived on StreetEasy, with prices ranging from $3.5 million for a 1,021-square-foot one-bedroom on the 34th floor, to an $11 million, 2,416-square-foot three-bedroom, three-bathroom spread on the 38th floor.
The building was expected to have a sellout of more than $2 billion, and while some reports have put that number even higher, there's a catch: the building hasn't exactly sold out yet. Extell has done several things to mitigate this—bringing in outside help, offering more turnkey apartments, and now this rental-to-condo switcheroo.
The current crop of apartments is meant, in theory to cater to a clientele who wants "efficiently sized, luxury inventory below $10 million" (in Extell's words), who may not want to pay the exorbitant price of, say, an 83rd-floor four-bedroom going for $58.5 million.
The units for sale are as follows: 34A, 34B, 34D, 34E, 34F, 38A, 38C, 38B, 38E, 38F
- One57 [StreetEasy]
- One57 Pads Once Deemed Rentals Are Now Turnkey Condos from $3.5M [Curbed]
from
http://ny.curbed.com/2016/4/18/11452582/one57-supertall-extell-condos-for-sale
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