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Your Morning Credit Crunch: Everything is Fine!

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As this cruel mistress known as 2007 draws to a close, the Post's Max Gross (who, it turns out, is fabulously bearded) conducts a wide-ranging survey on the state of the Manhattan real estate market, and his thesis is that even though there were some hiccups along the way, the market is healthier than a Jamba Juice Coldbuster. The usual suspects are credited for propping up the industry?foreign buyers, Wall Street money, etc.?but we're most intrigued by the report that 385 West 12th Street has sold 7 of its 12 units for a combined $44.5 million without yet opening a sales office. Gross writes: "One buyer came in to buy a $6 million unit and, after having drinks with his father and some of the people at FLAnk (the architecture and development firm behind the building), his father picked up another $9 million apartment in the building." This is perhaps the Far West Village site briefly graced by starchitect Christian de Potrzamparc before the downzone sent him home. Reborn as a FLAnk creation, both the firm and Brown Harris Stevens are being cagey about the design. Currently, there are only three animated pictures on the building's website (nice pool!) and not a one on FLAnk's or BHS's sites. Apparently you have to book a private cocktail party to get a peek. It's like 2004 all over again!
· What Meltdown? [NYP]
· 385 West 12th [Official Site]

385 West 12th Street

385 West 12th Street, New York, NY