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Where's the Magic? Greenpoint's Viridian Likely to Go Rental

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We got a tip so hot at the end of last week that we've been sitting on until we could get some confirmation that we're headed to Duane Reede after we're done typing this to get some burn cream. You know the Viridian? The high profile luxe condo at 110 Green Street in Greenpoint? We got a tip that it was going rental. We resisted running it as a rumor, even though we full suspected it was true. An immediate denial was not forthcoming. The Viridian is still on the Developers Group website, athough it is at the very end, behind two other buildings that recently went rental. Today comes word from a spokesperson: "According to The Developers Group, it’s being considering to convert the building to rental, but it has not been confirmed." That, friends, is a polite way of saying "nondo in the works," but we have to work out the legalities and paperwork. The building will be 130 units. The first segment of the building is slated to open by the end of the year or early 2009. Phase II is slate for late spring and Phase IIII is due in Q3 2009. Listings had shown asking prices for 1BRs starting at $458,000, 2BRs at $639,000 and 3BRs at $825,000. A little more than a dozen units had sold.
· A First Look Inside the Viridian [Curbed]