Far West 12th Street is one of the few remaining hot beds of Manhattan development, but the block between the West Side Highway and Washington Street?where three luxury buildings (Superior Ink, 385 West 12th Street, 397 West 12th Street) are rising within steps of one another?is finally showing a bit of weakness. The smallest of the new kids on the block, architect/developer Cary Tamarkin's 397 West 12th Street, received across-the-board 15% price cuts on four of its five "raw space residences" over the weekend. The fifth, the penthouse quadruplex, has already been claimed by venture capitalist Fred Wilson and family. The chopping brings the prices down to just over $1,500 per square foot for the massive spaces, which looked like this last time we swung by the area. Still too much for apartments that need heavy jiggering once purchased? That's for the market to decide. Ahead, your before-and-after comparisons.
#1) This was reportedly going to be claimed by Tamarkin for use as an office, but it popped up on the market in March. The simplex, which has a private back yard, was asking $5 million. Now, the ask is $4,250,000. [Listing]
#2) A 3,613sf simplex that was asking $5.5 million. It was decreased to $4,675,000 on Saturday, then taken down to $4,670,000 on Sunday. Hey, every little bit counts. [Listing]
#3) The price was $11.5 million on this 3rd/4th Floor duplex, which has a terraced loggia, over 6,100 square feet and potential for 3-6 bedrooms. Now? Well, now it's yours for $9,775,000. [Listing]
#4) Just like #3, but on the 5th/6th Floors. Was $14M, now $11,900,000. [Listing]
Of course, if 6,000 square feet just isn't enough, there are combo listings for #1+2 (6,400sf + private yard) and #2+3 (9,700+) available. Still not doing it for you? Well, there's always the nearby competition.
· 397 West 12th Street coverage [Curbed]
· 397 West 12th Street [Official Site]