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Already the area boasts one of the few strong apartment markets among the big metropolitan areas in the country, which will only improve as job-seekers flock to the new Rome.
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So the possibility of a walkout by the staff, members of the 26,000-strong apartment building workers union that may strike on Friday when its contract expires, is an unwelcome prospect to those living in the co-op development.
While it had previously been focused just on New York City, San Francisco, and Chicago, it will now target the 100-million-strong apartment rental market in the country.
Demand remains strong for apartments, and vacancy rates in office buildings are still low.
Mr. Burger said the response was exceptionally strong, since apartments in that particular line in the building had not been available for at least 19 years.
But with the economy strong and apartments in demand, buyers so far have not been able to translate that market power into lower prices over all.
Clarke, president of J.J. Clarke Enterprises Inc. and the husband of City Councilwoman Mary Pat Clarke, said the market remains strong for apartments.
Surprisingly in a strong market, the apartment hasn't yet sold.
"This investment reflects our confidence in the strong market for apartment properties downtown, which continues to experience a significant increase in rents," Vilkin said.
With demand so strong for larger apartments right now, past clients with three or four bedrooms are sometimes shocked to learn how much their apartments are worth.
When the housing market was strong, he noted, "apartments got crushed because people were moving out and buying homes".
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CEO of Professional Science Editing for Scientists @ prosciediting.com