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

Overview

Here’s something interesting: A luxury condo in Tribeca where you can find units starting at only $600,000! Granted, that $600K unit is an alcove studio, but the layout is smart, providing an alcove with closets, an island kitchen open to the living/dining section, and a 42 foot terrace! You even get a washer/dryer.  Fifty Franklin is a smart concept in a great spot.  Lets be careful not to confuse Fifty Franklin with Five Franklin, another luxury project just down the road.  Developed by W Developers and designed by Rawlings Architects, this project should provide an excellent lifestyle.  

Units & Pricing

Units in the building range from studios to 3-bedrooms.  Pricing is from $600K to over $3M for a spacious penthouse with outdoor space.  The range of units appeal to a wide range of buyers seeking upscale living in a downtown setting.  We discussed the studio layout above, and the one-bedroom is equally as smart.  Balcony access can be achieved from the bedroom or living area, and the bathroom is in the hallway near the washer/dryer.  The bedroom also has a walk-in closet, not very common for one-bedroom condos but very desirable.  The two-bedrooms are interesting, with a small home-office behind the kitchen which could possibly sleep a guest or be used as a play room.  The studios are about 600 feet, which comes out to roughly $1,000 per foot, a solid 30% below other condos we’ve reviewed recently on the blog.  The larger units fetch a bit higher price per foot, but still reasonable given the neighborhood and high level of luxury.    

Features & Amenities

The apartments feature all 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.  This gives the space almost a lofty feel to it.  And those kitchens have concealed millwork panel appliances in a white opaque catalyzed lacquer finish.  You’ll see from the images on the website that it’s really nice.  The larger units have a wine fridge.  The bathrooms feature Centro-style soaking tubs, stone accents, Grohe fixtures and porcelain, marble and mosaic tile finishes.  

The building offers a 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.

Location

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