The Clinton West was built a few years before I started this blog. I first learned about it when doing research on the 505 condo, which is directly across the street. As you’ll read below, the projects are somewhat comparable, even though I think the 505 may turn out to be more popular. Whether that’s strictly the result of how new it will be is up for debate. Overall, Clinton West is a solid project in a developing neighborhood.

Units & Prices

The units are tight but plentiful. Studios run 400-500 feet, the 1-beds are 600-650, and the 2-beds are 800+ feet. Currently there are four units on the market–two 2-bedrooms and two 1-bedrooms. Their prices average from $1,100-$1,200/foot. It is nice to see two-beds under $1M.

Like the 505 going up across the street, the building has a north and south tower connected by a courtyard. Something tells me that the Clinton Historic District requires new condo construction to conform with other buildings in the neighborhood, limiting the ability of developers to differentiate themselves.

Features and Amenities

Clinton West is a very practical building. The units are generally on the small side with cookie cutter layouts and a tendency towards energy efficiency. The floors are bamboo, and the windows are large, allowing for plenty of light. The kitchens are luxurious—not over the top—but clean and neat. The baths are especially luxurious with granite, heated floors and Michael Graves fixtures. Most importantly, the prices are reasonable and reflect the fact that you’re on 47th street on the far west side.

The building amenities include 24-hour doorman/concierge, landscaped courtyard, greenhouse, putting green and fitness center.

Location

The building is named Clinton West. I know this area is considered Clinton, but I always refer to it as Hell’s Kitchen. Some people cringe at the sound of Hell’s Kitchen but it has been over 10 years since the area turned from gritty to glorious. Its still got the occasional curious character, but where in New York doesn’t? In fact, the lower 40’s and high 50’s have been among the fastest developing areas of Manhattan.

Investment Potential

Ordinarily I would jump at an investment in a developing area with small enough units to be affordable. My hesitation is that these units are expensive! I think they may be pricing in 5 years of gentrification and new development in the area. I wouldn’t call it a bad deal, but not a steal, which may explain why some units are still on the market. We rate the building a B-.

This entry was posted on Saturday, December 22nd, 2007 at 9:51 am and is filed under 516 West 47th Street. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.