WEST VILLAGE CONTINUED STRENGTH


Posted by Leonard Steinberg on June 2nd, 2011

The penthouse at 2 Horatio just went to contract for over $ 4,000/sf: Granted it was gut renovated, has spectacular views and significant outdoor space, but 2 Horatio is not exactly considered a trophy building. It is a co-op with lovely apartments, although most are rather ordinary. Across the park (Jackson Square) the penthouse at One Jackson Square sold for significantly less at just under $ 3,000/sf, even though its a brand new condominium with a swimming pool. Around the corner, Jennifer Anniston just bought three apartments including a penthouse on West 12th Street for just under $¬†9 million total…they are to be combined and require a complex renovation so at the end of the day, the price will probably be around $ 4,000/sf too. These three apartment sales¬†clearly indicate the strength of West Village pricing in New York…..an area becoming known as RECESSION PROOF.

Its also the area where the young (or young-at-heart) wealthy want to live now. The fact that prices of this caliber are being achieved in OK buildings certainly screams for a new building that delivers more than just great apartments, but also services and amenities to rival uptown buildings such as 15 Central park West.

With the down-zoning of the entire area, views will always sell for a premium in this part of town known for its amazing year-round light and charming tree-lined streets, not to mention its proximity to the Hudson River Park, the Highline Park, Meatpacking District boutiques and nightlife, the new Whitney Museum coming to 12th Street…..and the list goes on. West Greenwich Village rules! (Yes, anything West is pretty good these days, and only getting better.)