Ownership battles, guys packing heat, elevator operator outrage, fake flower scandals?there hasn't been a dull moment at the Apthorp since the iconic Upper West Side rental fortress?or palace, at least on NBC's Kings?was sold for $426 million two years ago and started on its rocky road to condo conversion (complete reading here). But let's put aside the controversies for a moment and focus on the true test of the Broadway landmark's success or failure: that whole selling apartments thing. For months the only listings made available online were a small and somewhat bare bones sampling that came in at a hefty $2,200-per-square-foot average just as Wall Street was crumbling. Now, following some long-in-the-making price cuts at the Apthorp, a whole crop of new listings have hit the web through Elliman, 23 in all, according to StreetEasy. Photos and floorplans are still MIA?the prices are where there is change to be seen.
The new average pretty much sits at the promised $1,950/sf mark, but recall that the reductions are reportedly only temporary until sales hit the point where the condo plan can be declared effective. After that, it's anybody's guess what happens. Right now the cheapest Apthorp unit is a 1,031-square-foot 1BR, 1BA unit asking $1.995 million, while the most expensive is a 3,069-square-foot 3BR, 3BA unit going for $7.5 million. The latter is still a healthy $2,443 per square foot. Hey, sometimes old habits are hard to break!
· Apthorp listings [StreetEasy]
· The Apthorp [Official Site]
· All Curbed Apthorp coverage [Curbed]