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On the Market: The Glory That is 397 West 12th Street

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Architect/developer Cary Tamarkin's 397 West 12th Street, the Far West Village building we wished we could live in that's not named Palazzo Chupi, is just the latest new condo building to hit the market on the increasingly crowded end of West 12th Street. With so much equally luxurious competition around, will the 5-unit building?being sold as raw loft spaces?be able to attract buyers? Well, according to the project's refreshed website, two units are already in contract: The $5 million first-floor apartment, with a 2,000sqft backyard (UPDATE: Max Abelson reports that Tamarkin himself has taken this as an office), and the penthouse quadruplex, scooped up by venture capitalist Fred Wilson (of 11 West 10th Street fame). The price on that? Oh, just $20 million. With those two gone, is the gettin' still good?

Sotheby's broker Debbie Korb has four listings in the building, despite only three availabilities. That's because one is a mega combo offering. Here's the breakdown:

1) Residence #2: 3,613-square-foot full-floor priced at $5.5 million. Potential floorplans call for a 2-3 bedroom spread.
2) Residence #3: 6,1,66-square-foot duplex on the third and fourth floors, priced at $11.5 million and envisioned as 3-6 bedrooms. Four exposures, a double-height living room and a 315sqft terraced loggia space, as seen in the renderings.
3) Residence #4: Same deal as #3, but on the fifth and sixth floors with a touch more storage space. Offered at $14 million.
4) Residence #2/3: The second-floor simplex and duplex above are also being offered as a combination for $17 million. What, no extra value meal discount?

As far as amenity overdrive, the building will have 24-hour doorman service, but that's pretty much it. For bonus reading, check out the suggested floorplans on the 397w12 website. Our take: hummina hummina.
· 397 West 12th Street [Official Site]
· Introducing 397 West 12th Street, If You Can Find It [Curbed]

397 West 12th Street

397 West 12th Street, New York, NY