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Development Update-o-Rama: What's Up at One Seventh?

At first glance, there's nothing obviously objectionable about One 7th, a new triangular development that's now rising in the West Village where Carmine Street meets Seventh Avenue South. The official website has got all the usual bells and whistles (and the fact that every single person is rendered in a blur is, to our mind, an incisive commentary on the harried lives we all lead). The developer even manages to talk in that way we're pretty sure they teach you in the development farm system: "Looking out from the point is like floating on the water, with a feeling of movement from Seventh Avenue." And then, finally, there was the glowing profile in yesterday's NYT real estate section, noting that prices at One Seventh run from $1.95 million to $4.45 million.

All well and good, no? Yet there, in paragraph 14, was a fun fact that caught our eye: "No units have sold yet, according to Mr. King, though sales officially began in April." Waaaait a second—no sales in the past four months? In the heart of new developmentland? Are we talking about the canary in the coal mine here, or is there something else about One Seventh keeping buyers away? Your theories encouraged.
· Three Sides to This Condo Story [NYTimes]
· One Seventh [official site]