Griffin Court Condominium, located at 454 West 54th Street, is experiencing impressive momentum as sales jumped from 15 percent-sold to almost 50 percent-sold with 20 units closed in just two months. The Hell’s Kitchen building now has 18 additional units under contract, five new contracts in negotiation, three contracts out for signature and 16 closings scheduled for August.
During May and June alone, Alchemy Properties’ sales team, Wendy Triffon and Jill Preschel, secured 25 sales – which accounts for approximately 30 percent of unit sales at Griffin Court. In response to the building’s success, seven lenders have approved Griffin Court for end-loan financing for up to 80 percent for qualified buyers. In addition, Federal Housing Administration-insured loans are available.
“Buyers are gaining confidence in the market and in our building as we surpass these sales milestones,” said Kenneth S. Horn, president of Alchemy Properties, Inc. “Manhattan hasn’t seen many residential sales spurts like this lately – and we’re excited to see the new movement happening at the building. This is an outstanding accomplishment that speaks to the high quality of the homes at Griffin Court.“
The Corcoran Group’s Q2, 2011 market report showed that studio and one-bedroom sales in new developments accounted for roughly 47 percent of new development sales. This trend rings true in Griffin Court’s case as well, as nearly 65 percent of its 57 studio and one-bedroom units are sold or out for contract. The building is seeing increased interest in the larger two- and three-bedroom units, now that smaller unit sales have built momentum. The larger units are priced well to continue the mounting sales pace driven by the one-bedroom units.
Griffin Court features two eight-story towers connected by an expansive lobby with vast glass walls that overlook a private, two-story 8,700-square-foot courtyard. The building contains 95 luxury residences featuring a wide selection ranging from studios to three-bedroom homes. Residences range in size from 636 square feet to 1,829 square feet priced from $650,000 to $2,990,000. Traditional end-loan financing and Federal Housing Administration-insured loans are available for qualified buyers.
All homes at Griffin Court feature luxury finishes which include walnut color-stained oak floors and doors, and custom Skyline windows for maximized views and light. Private rooftop cabanas ranging in size from 250 to 500 square feet are available in some residences. Many other residences include private terraces or balconies. Residents can also enjoy one of New York City’s largest murals in their own backyard. Spanning 6,500 square feet on two exterior walls of the building, this special detail is completely unique to the development.
Kitchens include sleek quartz countertops, high-end Poggenpohl cabinetry, and Viking and Bosch appliances. Well-appointed master bathrooms feature marble walls, radiant-heated flooring, Kohler fixtures and bathtubs, wall-mounted vanities, and steam showers for units with separate shower stalls.
Amenities at Griffin Court include the 8,700-square-foot private landscaped courtyard, a 24-hour lobby attendant, a fully-equipped fitness center, storage space for each home, a live-in super, and a sophisticated video-intercom system. The building is also “smart wired” for Internet, cable and telecommunications.
Shopping and dining options are plentiful within Griffin Court’s surrounding area, with boutiques dotting the landscape and the nearby Time Warner Center providing fine dining and shopping, such as Landmarc, A Voce, Per Se, Hugo Boss, Whole Foods, Coach, Borders and Williams-Sonoma. Hell’s Kitchen boasts a variety of dining destinations for gourmet enthusiasts including Taboon, Bocca di Bacco, Blue Ribbon Sushi Bar & Grill, and Casellula. Residents also have easy access to New York’s many cultural and educational experiences – from Lincoln Center, Alvin Ailey American Dance Theater, Carnegie Hall, Central Park and Hudson River Park to countless theatres and museums.