Welcome to Brick Underground’s luxury pick of the week, a feature spotlighting a condo, co-op, or townhouse for sale with an asking price of at least $3,825,000, the current entry threshold for luxury apartments in Manhattan. If you’re in the market for a high-end abode, you should know that while sales have slowed considerably over the past couple of years, that trend is starting to reverse as sellers come to grips with the new market reality and adjust their prices accordingly. It's good news for your wallet—just be aware that many luxe listings won’t linger on the market indefinitely. For more information, check out Brick Underground’s tips on buying a luxury apartment in NYC.
This condo overlooking the High Line comes with a rather startling deal that's available for a limited time: No common charges for two years. The two bedroom, three bath, 515 West 29th St., #5S, is a sponsor unit in a new building with occupancy expected for fall 2019. (A similar two-bedroom sponsor unit at the Zaha Hadid-designed 520 West 28th St. has common charges of $3,172 a month, so you would be saving $76,000 here.)
These are the kind of deals developers are making in order to sell apartments in brand new buildings. Sales at new developments are stagnant—in fact in the first quarter they hit the lowest number in four and half years.
The condo is asking $4,500,000, which reflects a whopping 20 percent price cut of $1,250,000 about four weeks ago, according to StreetEasy. It went on the market in March, 2018, for $5,750,000. Monthly taxes are $4,337.
The apartment is 2,140 square feet and has a den, as well as double-paned, floor-to-ceiling windows, and views of the High Line.
Notable features include private, keyed elevator access; European wide-plank, light oak Grato floors; LED recessed lighting; video intercom; a Lutron system for controlling temperature, lighting and window shades; and motorized Lutron solar shades.
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The kitchen has Gaggenau appliances, Bulthaup millwork, Dornbracht fixtures. There are multiple Molteni custom closets.
The master bath has marble flooring and walls, radiant heated floors, freestanding Vienza Vida soaking tub, Duravit sink and toilet, a Molteni custom wood vanity and recessed mirrored medicine cabinet.
The building has a 24-hour lobby attendant, private gym with Technogym and Peloton equipment, and a landscaped roof terrace with a grill. There are also bike, storage, and package rooms.
It is a couple of blocks from Hudson Yards, which has a 1 million-square-foot mall, called The Shops & Restaurants at Hudson Yards, with about 100 glittering stores and over 30 eateries.
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