Just 10 newly constructed condos are on sale now.
Lacking the money for those repairs, Arthur entered a partnership with a developer named Shahn Christian Andersen to construct condos at the site while leaving enough space for a studio for the artist.
LOCATION Nu occupies the first four floors of a recently constructed condo building at the corner of Smith Street, known for the Michelin-starred Saul and dozens of other worthwhile restaurants, and Atlantic Avenue, one of the most interesting shopping streets in the city.
Newly constructed slopeside condos at East Slope Condominiums there sell for $279,000 to $299,000.
Hayashi added that the disparity may have another unintended consequence: encouraging builders to construct more condo and co-op buildings, which also often come with large tax breaks.
"They tend to be on corner lots, at major intersections, which are great places to build," said Zach Vella, a principal in VE Equities, which is constructing a 16-unit condo on a former gas station site in TriBeCa, at 11 North Moore Street.
This popular five-story library at 20 West 53rd Street - just north of Rockefeller Center, whose architecture it was designed to compliment - was closed in 2008 and sold to a real estate developer that at first planned to put in a hotel but instead, after the financial crisis struck, sold it to a second developer that is in the process of constructing a high-rise condo tower on the property.
Jonathan Miller, an executive vice president and the director of research at Radar Logic, estimates that foreign buyers have bought about 1,000 newly constructed or converted condos in Manhattan in the last 18 months, which is about a third of the condo sales in Manhattan in that period.
Newly constructed high-rise condos loomed in the distance by Hunters Point Avenue and Vernon Boulevard-Jackson Avenue, and the people getting on the train started to look more like expats from Manhattan than adults who'd spent their childhoods in Queens.... New York Water Taxi From Pier 11 in Manhattan to Haverstraw, N.Y...
