The Prime Condominium – 333 West 14th Street

The Prime Main

Overview

The Prime is a new construction limestone, steel and glass building located mid-block between 8th and 9th Avenues. Designed by Bice C. Wilson and Francois de Marignac of Meridian Design Associates, this distinctly contemporary structure looks quite striking between the more traditional looking buildings on both sides. Developer, Saxa Inc. is actually a newcomer to the Manhattan area. Based in Scottsdale, Arizona, they primarily specialize in office complexes and condominium developments in warm weather states such as Hawaii, Texas, Arizona, and Nevada.

Prudential Douglas Elliman is heading up sales and marketing, and is currently showing the fully furnished second floor apartment via open house or by appointment.

 

Units & Pricing

 

There are eight floor-through units at The Prime, all of which are 2,257 square feet and have the same floor plan. The only exceptions are the duplex penthouse, which is larger and has a private roof terrace, and the second floor unit, which does not have the private balcony off the master suite. Currently there are four units still on the market, which range in price from $2.995M-$3.4M. All of the units have private elevator entry and prices vary depending upon the floor and exposure you have.

One of the mid-level units is currently listed at $3.15M. For this you get a total of six rooms, including two bedrooms and two bathrooms, a private balcony, a top of the line kitchen, a home office enclave, a separate laundry area with a stackable Miele washer/dryer, and your own private walk-in storage closet. With common charges coming in at $1,240 per month, taxes are quite reasonable at $240/month thanks to the tax abatement.

A major plus to this development is the abundance of light in all of the units. The wall to wall windows in the front of the building face south onto 14th Street which gives you great light throughout the day in addition to the northern and eastern exposures.

 

Features & Amenities

Both the lobby and the residential dwellings at The Prime have a very modern, nouveau European aesthetic. Meridian Design incorporated elements of feng shui and other ancient traditions into the design of the building, and this is evident by the calm presentation, sleek detailing, and the flow of the layouts from the front to back.

We took a tour of the second floor model and the kitchen is definitely our favorite space within the units. The layout is conducive to entertaining and/or just lounging around the house. White Varenna cabinets are complimented by thick slate countertops that curve around the corner and open to the main living area and the wonderful southern exposure from the huge windows. All appliances are high end including the Suz-Zero refrigerator, Bosch dishwasher, Viking wine fridge and Wolf microwave, oven and cooktop.

The bathrooms are equally impressive. Both bathrooms are truly calming with the use of white and gray shades throughout the marble, tiles, glass, and cabinets. Each bathroom has deep soaking tubs, double sinks, and Boffi and Durvait by Starck fixtures. The master bath also has a separate spa-like shower and sliding glass wall to partition the toilet off from the rest of the bath area.

Other features include built-in Poliform closets in the master suite, 9′ ceilings, white oak floors, and state of the art video intercom systems (aka no doorman). There is a common rooftop terrace and membership to Luxury Attache Personal Concierge Service for all residents.

Kitchen

Closet

Bedroom

Location

There isn’t really a distinct name for the neighborhood where The Prime is located, as it is where Greenwich Village, The Meatpacking District and Chelsea all converge. With that said, it’s extremely convenient to many parts of the city, and within walking distance to tons of trendy restaurants, nightlife and high-end boutiques. Another plus is that you are within a couple Avenues from the Union Square Whole Foods, as well as a block away from Balduccis supermarket on the corner of 8th and 14th. Transportation is easily accessible in this part of town, with the A, C, E, and L trains only steps away as well.

A potential downside to this area is the noise with double-wide streets, buses, cars, and trucks constantly passing through 14th Street.

Investment Potential

Prices for this building are similar to other recent sales in the neighborhood, coming in around $1,400 per square foot. Even though all of the units are spacious 2-bed/2-baths, it seems like this building will appeal mostly to single people or couples without children. There is no mention ever made about youngsters in the talking points from the developer or in the services offered by Luxury Attache. That being the case, there is limited appeal to this type of building. But as this is New York an no shortage of people with deep pockets, I don’t foresee there being a problem unloading the rest of the units before the building opens in the spring. Investment potential is good, most likely a strong B.

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