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New Condo Building in Columbia's Shadow Gets an Education

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A press release from our friends at Halstead Property Development Marketing informs us that former Development Du Jour Columbia House has sold out. We love a happy ending! The six-unit building at the tippy top of the UWS (what some would dare call Manhattan Valley) was pitched as a modern take on pre-war style. Located at 238 West 108th Street, the Mihai Radu Architects creation featured fancy finishes along with a 15-year 421-a tax abatement, albeit no doorman. It all made for a pretty nice package, but it appears what finally got the units moving were, surprise, major price cuts. The apartments, four floor-throughs between a garden duplex and penthouse with a private rooftop, hit the market in the $1.8 million to $2.2 million range. They sold for significantly less.

The units switched brokerages from Sotheby's to Halstead somewhere along the way, but we think the unit #s on the old listings still match up with the most recent ones. Sizes range from 1,780 square feet to 1,970 square feet. The final closing, on unit #4, is still too fresh for our prying eyes to dig up, but here's what went down elsewhere in the building:

#1: The garden duplex that was rumored to already be in contract when sales got started. Sold for $1.762 million, and we don't think a listing for the apartment ever made it online.
#2: Lowest of the full-floors came to the market asking $1.81 million and sold for $1.2 million, or just $670/sf.
#3: Hit the market at $1.835 million, sold for $1.215 million.
#5: Once asking as high as $1.895 million, but sold for $1.229 million.
#6: The penthouse was initially listed for $2.25 million, but was later PriceChopped down to $1.495 million. It sold for $1.375 million, nearly 40% off the original price.

And there you have it, '07 asking prices vs. '09 selling prices.
· Columbia House [StreetEasy]
· Development Du Jour: Columbia House [Curbed]
· Columbia House []

Columbia House

238 West 108th Street, New York, NY