News comes to us that the developers of the 200 West End Avenue Condominium have closed on their final apartment and that the closing took place at the end of 2009. We are also told that the $/sq ft sellout for the Clarett Group project was well above $1,350/sq ft for the 166 apartments at the luxury Upper West Side condominium. The Costas Kondylis & Partners designed building was initially slated for 191 apartments but public records show that numerous apartments were combined. Records show there were two Penthouse combinations done at 200WEA creating enormous full floor 4,019 square foot homes. These residences sold for $8 million and $8.2 million respectively.

We wrote about 200 West End Avenue in 2007 but the project remained under the radar with the exception of the purchase of a 22^nd floor residence by Howard Stern’s news anchor and sidekick, Robin Quivers. Ms. Quivers paid $2,425,000 in May of 2008 and is still the owner of the apartment.

While we rated the building an A- in 2007 and still feel $1,350/sq ft is more than a fair price for these apartments, Steven Pasquale, of Rescue Me fame, may disagree. In documents recorded in December of 2009, Mr. Pasquale sold his 788 square foot 1 bedroom at 200 West End Avenue for $865,000 which is $45,000 less than what he paid in January of 2008.

Streeteasy.com shows no other apartments currently listed for sale which means fellow television star, Jack McBrayer, is keeping his 992 square foot apartment. Public records show the 30 Rock star purchased the apartment in 2008 for $1.35 million.

Congratulations to the Clarett Group on their successful completion of 200 West End Avenue.

-James

As we wrote in December, despite the recent negativity hitting the New York real estate market, it continues to remain a fact that many high-end condo projects are opening their doors. Today, news comes to us that the first apartment has closed at Fifty Franklin and get this… at over $1,000/sq ft!

We are told that the unit closed is a 1 bedroom and under 750 square feet.  Job well done Jason Walker, the head of sales at Fifty Franklin.

We covered Fifty Franklin in October of 2008 when we commented on the smart layouts and concept along with the nice array of amenities for a mid-size project. The 24/7 doorman/concierge can receive your mail and packages and help filter the people entering the building.  You’ll also find a live-in super to deal with the inevitable kinks that come along with new building openings.  There’s also a fitness center, multimedia lounge, pet spa, and a guest apartment.  We don’t see the guest apartment too often, probably because the developer would rather sell the unit than hold onto it for amenities purposes.  Whatever the reason, it’s great for studio and one-bedroom purchasers who might not have room for a guest to stay over.

The apartments at Fifty Franklin feature all of the luxury finishes buyers have come to expect from a new condo.  The kitchens are open with islands that allow a person to be in the kitchen but interacting with guests in the dining/living room.  Additionally, the kitchens have concealed millwork panel appliances in a white opaque catalyzed lacquer finish. The bathrooms feature Centro-style soaking tubs, stone accents, Grohe fixtures and porcelain, marble and mosaic tile finishes

There are still plenty of apartments available at Fifty Franklin so please e-mail us at nycondoblog@gmail.com for more information.

-James

As we embark on a new year at The New York Condo Blog we are planning on giving you, our reader, more posts, more information, more buildings and more access to deals we like throughout the city. Please feel free to send us some ideas on how you think we can make things better for you!

To start off, we’d like to share with you a 1 bedroom at the well known Armani Casa building in the financial district – 20 Pine: The Collection. With much publicity over the years, thanks in large part to the 24-hour sales office and unique marketing plan by Shvo, lengthy delays with construction and legal issues with the developer, Leviev Boymelgreen, 20 Pine is now complete with over 319 of the 408 apartments closed. The average dollar per sq foot is well over $1,000/ft. The amenities at 20 Pine include a roof terrace on the 25^th floor, state of the art gym, swimming pool, winter lounge, billiards room, Entourage style golf simulator and a Turkish steam room. While there are only a few 1-bedroom units available from the Sponsor, a quick glance at online listings and a call to the 20 Pine sales office show that there are no apartments priced and/or equipped quite like the apartment listed with Douglas Elliman.

When considering purchasing a resale (this unit closed in September of 2008 at $798k), buyers should consider the following savings:

-   1.825% transfer tax (paid by buyer when purchasing from developer but by Seller during a resale)

-   Window treatments, kitchen island, shower doors and bathroom hardware already installed (Elliman agent prices these items at approximately $20,000)

-   Pre-wired lighting and sound with a Control 4 Home System; in-wall home theater speakers throughout living room, kitchen area and bathroom (Agent prices this at approximately $15,000)

More importantly, while common charges are under $1/sq ft at $877/month, the real estate taxes at 20 Pine are currently $0 thanks to a 421-g tax abatement. (Per the sales office, the taxes are to be fully abated for another 7 ½ years!)

Details and pictures are below, but the apartment apparently comes with over 100 square feet of private storage, an option to be fully furnished as well as the ideal situation for an investor – option to have tenant in place through the end of 2010 with market rent!

Listing information, floorplan and photos are below and feel free to email us at nycondoblog@gmail.com for more information.

1 Bedroom, 1 ½ bath, 949 Sq Ft

$877/month common charges, $0 taxes,

$855,000

WRAP THIS ONE UP AND TAKE YOURSELF HOME TO 20 PINE…DOWNTOWN’S BEST PRICED 1-BD VALUE IN SUPERCHIC ARMANI CASA CONDO!!! Brand New, No Taxes for 8 Years, No Transfer Taxes, Cheapest 1-Bd Available, Soup-To-Nuts “Tricked Out” and Ready to Move-In! With Fabulous SOUTH light and Protected OPEN NY Stock Exchange Views, this STYLISH loft is a STEAL with $90K worth of Custom Design, Lighting, Control 4 Lighting/Sound System, Custom Built Kitchen Island….not to mention the High Ceilings, Ebony Hardwood Floors, Sumptuous Rainforest Shower, Brazilian wood Bath, Sub-Zero/Fisher Paykel/Miele Kitchen Appliances, Asko Washer/Dryer, and the DROP DEAD Amenities of the Swimming Pool,Turkish Hammam and Lounge, Spa Lounge with Massage Rooms, Saunas, Health Club with Lounge, Yoga Studios, Billiards, Golf Simulation, Outdoor Lounge with SunBeds, Library Lounge, all Of Course with 24-Hr Doorman/Concierge. 11 Trains at your Doorstep, 10 Minutes to Whole Foods, 5 min walk to Tribeca, Best Upside and Quality of Life! Come take a look today!!! Unit can be purchased with or without tenant…Great for investors!

 Despite the recent negativity hitting the New York real estate market, it remains a fact that many high-end condo projects are opening their doors during early 2010.  Among those projects is 100 11th Avenue, which recently announced that early closings have begun.  We covered 100 11th Avenue back in 2007 when all we had were some artist renderings and a foundation to photograph.  Now, when you drive up the West Side Highway towards Chelsea Piers you can’t help but notice the mini-skyline of architectural wonders leading up to 100 11th Avenue including Superior Ink, the Richard Meier condos, and obviously Frank Gehry’s IAC building. 

The interiors of 100 11th Avenue are nothing to scoff at either.  Living in one of these condos puts you somewhere between a luxury apartment and a piece of art.  The floorplans are unique, the spaces are wide open and the curves are noticeable.  The glass curtain wall is equally fascinating from the outside looking in and the inside looking out.  Floor-to-ceiling glass has never been done better. 

The kitchens and baths are dramatic as well.  “Mobile units” in the custom-designed terrazzo kitchen islands compliment the modern design with an element of functionality.  The bathrooms are spacious, sleek and angular with oddly placed windows and zen-like color schemes. 

For those interested buyers, you can still find a unit or two on the market if you scour the web.  Douglas Elliman has a 2-bedroom listed at 3.6M and a 3-bedroom listed at 4.2M.

-James

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