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Lowering the Luxury Hurdle

A Curbed reader thinks developers are ahead of the gentrification curve in upper Manhattan. He writes,

I laughed out loud when I noticed the "Luxury Condos!" banner on the new, neo-Stalinist edifice at 69 East 130th Street, across from a junkyard and next door to the elevated Metro North lines. It is without a doubt the ugliest, worst located building on which I have ever seen a "luxury" sign. Even funnier, they have named it "The Walden", as though Henry David Thoreau might have mistaken this slum for his pastoral shack.
In promotional materials, Elliman preemptively counters by noting, "Harlem is Hip, Harlem is now." Hard to argue with that logic.
· New Developments (page 8) [Elliman] (warning: pdf)