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– Some of last
year’s top buildings has sold out; others remain works in progress
New Buildings always get a lot of ink,
but what happens to these sparkling developments when the press – and the lines
of buyers - leave? Here’s a look at what happened to five of 2005’s
high-profile buildings.
It might have been mocked for its faux
address – One Kenmare Square –
but André Balazs’ 11-story
building at 210 Lafayette St. was embraced by its buyers. Plus, it
was one of the few new glass buildings that escaped overexposure (Urban Glass
House) and architectural vilification (Astor Place’s Sculpture for
Living). The 53-unit building, which opened for sales in February 2005,
sold 80 percent of its units within six weeks, according to Andréw Anderson,
vice president at Prudential Douglas Elliman. And prices rose 16 times in
the building.
“We were raising prices every day for the first two weeks,” Anderson
says.
With about 15 percent of the building originally purchased by investors, eight
units, including a 3,000-square-foot, three-bedroom, priced at $6 million, are
now back on the market.
: One Kenmare Square has seen 16 price
increases.
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