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Schrager's 40 Bond Eyes Big Money

In a lengthy profile of the partnership between Ian Schrager and Aby Rosen?a partnership that has led to imminent success at 50 Gramercy Park North and much drool over the upcoming 40 Bond (pictured)?the Observer's Michael Calderone reports that ground broke on the Bond Street project four weeks ago, and he has some details about potential pricing:

Mr. Rosen said he expects sales prices to range from about $2,500 to $3,000 per square foot. At that rate, prices for a one bedroom could be around $3 million, with two bedrooms reaching about $5 million. In addition, there are also three bedroom units, penthouses, and the five townhouses (which include separate entrances but all the services of a condominium). Units on higher floors should understandably command more money, with the penthouse units expected to reach as high as $4,000 per square foot, according to one broker. That’s Richard Meier territory!Let the bidding begin! But not until February, when the sales office officially opens. Said Elliman broker and Luxury Letter publisher Leonard Steinberg about the cast-iron-with-no-iron-but-instead-glass design: “The taste is very specific; they’ll love it or hate it. The people who read Wallpaper are going to love it. It’s very cutting-edge modernist.”
· The Bond Street Boys [Observer]
· First Peek at Ian Schrager's Noho Newcomer [Curbed]
· 40 Bond [40bond.com]