Graceline Court was one of the notable new constructions that raised some eyebrows back in 2008 and it looks like it will finally sell out in 2011. The 16-level condo building at 116th Street (just west of Lenox) didn't look like any of the others on the market and started sales when things were pretty tough in the market. Nevertheless, slow but steady progress has been happening and based on Streeteasy records, it looks like only 1 unit is left out of the 32 original ones offered:
LINK. Selling prices are well in the $500K per square foot range and the location just next to the 2,3 express train probably helped things also move along. We're not sure if taking 2 years to sell a building is the greatest rate but the developers at least did not have to foreclose or change it into a rental. There's also a 25 year tax abatement on this one which probably added to its appeal.
www.GracelineCourt.com
I'm happy for them that they have sold the units but I must say I'm surprised; even though the prices seem fair and the location is near the subway, that is a horribly depressing location.
ReplyDeleteScott I resent that comment, why is this location so "horribly depressing"? On what basis are you making this comment?
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