It looks like the latest wave of PriceChops at the much-derided River Ridge condos on the Lower East Side worked, or at least got the ball rolling. StreetEasy shows that three units recently went into contract, creating a sigh of relief amongst all developers planning on tearing down old chicken slaughterhouses located in the shadows of big bridges to make way for quasi-luxury condos. We had speculated that any new construction in Manhattan can fall only so low before it gets snapped up, and at least now we know that threshold is right around the $1,000-per-square-foot mark. Adjust prices accordingly, svp.
· Curbed PriceChopper: River Ridge Washed Up? [Curbed]
· Peer Deep into the Soul of LES Quasi-Luxury [Curbed]
· River Ridge [Official Site]