A stalled condo development at 220 St. Nicholas will eventually become a rental building if a couple of young developers have their way. The Real Deal reveals that 11-unit, 10 story building at West 121st Street did not finish up a couple of years back because of financial issues but the new developers have secured the loan from the original lender. There will be a foreclosure auction scheduled for November 29th to pick up $12 million in liens against the development but the new team do not see other investors coming in and taking on that debt. Read more of the details in the Real Deal:
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wow. that is a lot of space? 10 floors, 11 units so some will have whole floors!! I wonder what the rents will go for?
ReplyDeleteLuvKaya that is a ton of space, can you say roommates :)
ReplyDeleteFloorplans for the planned units from a few years ago are still available at http://www.220saintnicholas.com
ReplyDeleteThere was a crane on the site the past two days working on the exterior envelope of the building (I took pictures and was going to send them in as my first HarlemBespoke tip!). It is great to see this project revitalized and hopefully there will be many new people living in the building and contributing to our community soon.
ReplyDeletehehehe @ Harlem BBC
ReplyDeleteI hope it will be me as the new person! @ Kathleen.
thanks @ charles. going to take a peek now.
I wonder if this project will be ready in the spring time. I have already set my goal move date to June 2013. I maybe able to push it up if necessary.
I want to rent 7A or 8A... omg! I can't wait to move to NY even if I don't get this particular rental, LOL.
ReplyDelete@LuvKaya sounds like you have a good plan. See you soon!!
ReplyDeleteI recall looking at this building back when I was looking to buy in 2010. The units are strangely not that big. The views down St. Nicks from the balconies, however, are amazing. I wish they'd finish this building up.
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