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232 Mott Throws in Towel, Goes Rental

Look, we hate bringing you this type of news, but it's our job. When condos are new and shimmering, it's hard to imagine that it might not pan out for them. But it happens. Fairly often, lately (and we're looking at you, 99 Gold). So let's get on with it. For reasons beyond our understanding, former Development Du Jour 232 Mott Street has gone rental. The little Nolita building has five full-floor apartments, all two-bedrooms, including a duplex penthouse. The units contain all the luxury finishes that you would expect from a development that was being sold for prices starting at $1.3 million. The desired rents ain't no bargain, either: starting at $6,250, with the penthouse going for $12,000/month. And now, a moment of silence please.
· Mott 232 [Official Site]
· Development Du Jour: 232 Mott [Curbed]