The three amigos of West 12th Street are entering the home stretch. Both Superior Ink and 397 West 12th Street are pretty much a wrap, and now the slow poke of the three?FLAnk's 12-unit 385 West 12th Street?is getting its faceted face of copper panels (currently being installed) and glass (already in!). In contrast to the bricks and stone of others nearby, the copper will oxidize over time and turn to a softer surface of greens and grays. Now, along with the semi-finished materials, the angled facade is still a mix of uncovered yellow insulation, exposed concrete and net-enclosed scaffolding. When done, the building will include a roof-top "aerie" complete with 50' lap pool and views of the Hudson. Not bad, but is anyone buying?
Over the weekend the Times checked in with West 12th Street's new luxury trio. Architect and developer Cary Tamarkin, the builder of 397 West 12th Street, said: "For several years, the poor people that live on the block have had three buildings under construction at once. But now, it's going to be a whole new block, with a high level of commitment, both artistically and monetarily." Or so he hopes. Even after last month's 15% price cuts at 397, only one of five units remains sold. At Robert A.M. Stern's Superior Ink, Related has backed off claims that 95% of the building is under contract (at prices around $3,000/sf!), and now the number is around 80%, with closings scheduled for summer. FLAnk says that 7 of the 12 units at 385 West 12th Street are spoken for, at an average of $2,000 a square foot. And around the corner sits Palazzo Chupi, patiently waiting as always. Who'll adopt these new West Village trophies?
· West 12th Street Trades Factories for Condominiums [New York Times]
· 385 West 12th Street coverage [Curbed]
· FLAnk [flankonline.com]