In yet another sign that the upper end of the sales market is softening, Extell Development is holding quite an end of the year "sale" on luxury condos in its buildings.
The developer is offering to pay common charges for up to five years for any apartments bought by the end of 2018. (Common charges for one and two bedrooms will be covered for three years; for three- to five-bedroom apartments, the company will pay five years of common charges.) Obviously, that adds up to many thousands of dollars, but buyers should keep in mind that the gravy train will come to and end, eventually, and they will be on the hook for common charges.
If this piques your interest, there's probably a luxury building in the developer's portfolio to fit your taste, with options in uptown and downtown in Manhattan and in Brooklyn. All come with impressive amenities and services such as lounges, event spaces, kids' and dog rooms, and exercise facilities.
Here's a sampling of what's in the Extell end-of-year sale.
157 West 57th St. #36D, $3,750,000
This one-bedroom, one-and-a-half bath apartment measures 1,291 square feet, and common charges are $1,292 a month. (Taxes are $1,013.) If being centrally located is important to you, this is about as good as it gets. It is on Central Park, near Carnegie Hall, MoMA, and Columbus Circle.
138 Willoughby St., #18E, $1,996,935
Almost $2 million gets you two bedrooms and two bathrooms with over 1,171 square feet. Common charges here are $1,404, and there’s a 421-a tax abatement until 2045. For Brooklyn living, it’s in the thick of it in downtown Brooklyn, and close to most subway lines, plus parks, Barclays Center, and cute brownstone streets. (FYI: it’s built on leased, not owned land.)
70 Charlton St., #6F, $2,725,000
If you fancy yourself more the downtown type, consider Charlton. Common charges for this two bedroom, two bath, 1,474-square-foot apartment are $3,298. Located in Hudson Square (near Tribeca, the West Village, and Soho), it’s close to Hudson River Park, museums, and high-end shopping and dining. (It's also a land-lease situation.)
200 East 95th St., #6A, $2,993,000
If the Upper East Side is more your scene, The Kent could be a match. This 1,481-square-foot, two bedroom, two bath has a common charge of $1,678, as well as a 20-year tax abatement. The museums on Fifth Avenue are a few blocks away, as is Central Park, the 92nd Street Y, and The Dalton School and Hunter College High School.
252 South St., #11F, $1,209,000
One Manhattan Square is located on the Lower East Side, and calls itself “a vertical village.” This 695 square foot, one bedroom, one bath, has common charges of $745. In addition to being close to all the East Village has to offer, One Manhattan Square is well-positioned for views of, and trips to, the groovy Brooklyn neighborhoods of Williamsburg and DUMBO just across the river.
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