It has been some time since a percentage of sales have been provided for the 5th on the Park development facing Marcus Garvey Park at 120th Street but this week's press release has confirmed that the new 5th Avenue construction is over 70 percent sold. A total of 41 contracts were signed at 5th on the Park in 2011, the most out of any new development in Harlem, and the development is already on track to exceed the record in 2012. Since January 1, 2012, the development has signed 25 contracts, almost two per week, and is continuing to see steady sales progress and high traffic.
The remaining units are comprised of spacious studios, one, two, three and four-bedroom apartments, many with private outdoor space. These units range in size from 568 to 2,242 square feet and are priced from $399,000 to $1,675,000. Immediate occupancy is available for purchasers.
www.5thOnThePark.com
It's been a very long time coming for 5th on the Park. I would not consider it a "new" development, since it was finished in early 2009. Also, they've sold more, because they have more; it's the biggest development in Harlem. Lower prices helped spur the sales, as they are wont to do. I would not consider the building a "success story," by any means.
ReplyDeletepignoli I think that the fact they continue to sell in this environment, no matter how slowly is a good thing nonetheless.
ReplyDeleteI would say Fifth on the Park is a success, they are steadily moving to being completely sold out, despite the great recession. In addition, this is a huge development and a bold move on the part of the developer. For Harlem it is also a good thing as Fifth on the Park has introduced many new tax paying Harlemites, which Harlem sorely needs.
ReplyDeleteI would like this building if it any place but here. It throws a huge, hulking shadow over the Park and surrounding streets.
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