High-End Condos for the Merely Affluent
"The mood on Billionaire’s Row along 57th Street has turned grim of late, with condominium sales along the strip slowing to a near halt. Developers of superluxe skyscrapers are chopping up penthouses and, in some cases, scrapping plans altogether.
It’s an entirely different story at 70 Charlton, a condominium by the Extell Development Company in Hudson Square, where more than half the apartments were priced under $3 million. Sales have been anything but sluggish there, with one-bedrooms, which started at $995,000, and two-bedrooms moving particularly fast.
It’s a trend that developers and brokers say has been mirrored around the city: While the demand for $100 million mansions in the sky has all but vanished, sales at the other end of the new development market have been brisk."
