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 $4,300,000, 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 three-bedroom, four-bath condo, 2 River Terrace, #11H, in Battery Park City, has been on the market just over three months—which is not a long time for luxury apartments in the current market. What does seem somewhat surprising is the price for this 1,978-square-foot condo: The owners are seeking $4,350,000—which reflects a price cut of $150,000 about five weeks ago. The median price for a three bedroom in Battery Park City, according to StreetEasy, is $3,125,000. Monthly taxes are $2,652 and common charges are $2,498.
One explanation: The Riverhouse at One Rockefeller Park is a full-service building, and one of the only LEED-certified, waterfront condo buildings in Battery Park City, according to the listing. Amenities and interiors for the 2006 building were designed by David Rockwell, responsible for Nobu and W Hotels. The 32-story, 258-unit building has LEED Gold status, with filtered air and water, and lower energy bills. It also has a long list of amenities, including 24-hour concierge service, a parking garage, 50-foot salt-water lap pool, fitness center, bicycle storage, billiards area and an outdoor terrace.
The asking price is not only high compared to the neighborhood (buyers here need to familiarize themselves with the concept of a landlease, by the way) it’s higher than other similar-sized apartments on the market in the same building, such as #11T, which is 1,816 square feet, has three bedrooms and three-and-a-half baths. It is asking $3,688,000.
The price difference makes more sense when you compare photos and floor plans for these two apartments. Apartment 11H has floor-to-ceiling windows on two sides—creating a dramatic corner living and dining room with sweeping views of the Hudson River and Statue of Liberty. The other apartment, #11T, is decidedly less dramatic, with only one wall of windows.
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The floor plan for #11H can also be configured as a large two bedroom with separate den leading to the great room through an oversized pocket door.
The kitchen has white Corian countertops, Italian teak-faced cabinetry and appliances from Sub-Zero, Thermador and Miele. There is a large walk-in utility room with Bosch washer and dryer and lots of closets throughout the apartment.
The master bedroom features three large closets and an en-suite bath with a double sink vanity, frameless glass shower, separate soaking.
There other two bedrooms each have en-suite marble baths and there is a fourth, full marble bath ideal for guests.
The building is across the street from multiple restaurants and an 11-screen movie theater. It's close to Whole Foods and the stores and eateries at the recently renovated Brookfield Place and the Oculus. Also nearby are Rockefeller Park, Teardrop Park, and the Hudson River Esplanade.
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