This 28-story luxury priced development sold ahead of the more competitively priced runner-ups which include 88 Morningside (88 Morningside Avenue) and PS90 (220 West 148th Street) tied with 24 closings; Gateway Towers (2098 Frederick Douglass Boulevard) and 2280 FDB (2280 Frederick Douglass Boulevard) with 23; and Windows on 123 (117 West 123rd Street) with 16 closings.
Remaining units at 5th on the Park consists of studios, one, two, three and four-bedroom apartments, ranging in size from 568 to 2,386 square feet and in price from $395,000 to $1,830,000. Immediate occupancy is available for purchasers. More details at: www.5thOnThePark.com
First, I wouldn't call 5th on the Park a new property. It's been up for close to three years now. It has the most units of any property because its the biggest. They drastically overpriced it when it first came on the market and nothing sold for the longest time. When they started to lower prices, units began to sell. I wouldn't be celebrating if I were them. Sounds like PR shill to me.
ReplyDeleteThere was an article in the News (?) about three chefs who separately have bought apartments there.
ReplyDeleteAt night there is are far fewer dark floors than before.
They clearly overpriced it at first, but it is a nice building as far as finishes and great views. Locationwise, it may not have quite as much as FDB, but the mt. Morris area has a certain charm and beauty of its own. Glad to see it is selling, it will help the new businesses along Lenox.
ReplyDeleteMt Morris has a certain charm? It personifies charm! But this building would be better elsewhere--it casts a giant shadow over the park. Way too large for the area.
ReplyDeleteI agree with Mum. It's a monstrosity of a building in relation to the surrounding neighborhood. If it helps the businesses on Lenox, than at least it's accomplished something. It hasn't done a thing yet for the stretch of Fifth Avenue south of the building.
ReplyDeletepignoli, there’s really not much that can be done, is there? Stretching south on Fifth are mostly newish townhouses on the east side, retirement homes on the west. There is an expensive old school red sauce Italian restaurant (I say that without benefit of ever having gone in so Lord knows I could be entirely wrong), a bodega or two and a barbershop. Then you get down to about 115 and you have the MLK Houses.
ReplyDeleteBut that Thing hulks like a giant albeit not unattractive toad at the bottom of our beautiful park.
Tough crowd. Look, a lot people said this building would never sell unless it sold units at a big discount to the FDB cooridor because it wasn't as "nice" aropund Mt. Morris. My argument was the immediate surroundings are more charming than the FDB coordior (which has all new construction) and only a 10 minute walk away when you wanted it, and you have nice views and better units and better amenities. But I'm not going to bash the FDB cooridor because everybody has different tastes and desires and I get why some people would rather be over there. As far as the actual building, I think New York has always been known for having a mix of building stocks blending together. I wouldn't want 20 of these buildings but I don't think a few hurt and it's not like they razzled brownstones to build these things.
ReplyDeleteYeah, I agree with GG. I look forward to the time this place is sold old and the windows are lit up at night across the board. Something charming about that. I saw one of the apartments during the neighborhood tour and the view was mesmerizing (just can't afford to drop a mill!). Prices now appear to have found the right balance and I hope more developments follow in the neighborhood and continue to benefit the businesses along Lenox. Including the liquor store.
ReplyDeleteBTW, there is a moving truck outside this building the size of the Queen Mary with an only slightly smaller one right behind it.
ReplyDeleteSomeone is moving in in a big way.