We love our church-to-condo conversions, but Harlem's 2056 Fifth Avenue?fka Rhapsody on Fifth?has found since sales began in early '07 that not everyone holds that view. (No, we don't get it either.) In February 2009, the building had its second appointment with the Chopper, bringing prices down to an average of $590/square foot. Some buyers found those numbers more to their liking, it seems, because the building's recorded six more sales since, at prices even lower than the Feb '09 special. Discounts range from an itty bitty 0.9 percent-er to a 15.2 percent cut on #5B, a 1,130-square-foot 2BR, 2BA that went for $550,000 (and six months of developer-paid common charges), down from a chopped ask of $649,000 (and an initial ask of $945,000). That's a sale price of $486/square foot, a Manhattan shocker. But, more pressingly, what about the units still left on the market?
There are four apartments still available, according to StreetEasy, and all are closely acquainted with our friend Chopper:
1) #2C: A 1,927-square-foot, 2BR, 2.5BA asking $950,000, or $492/square foot. Most recently chopped 14 percent in January, from an '09 ask of $1.1 million.
2) #PHB: A 1,503-square-foot 2BR, 2.5BR asking $950,000, or $632/square foot. It got a post-holiday chop of 10 percent, from last year's ask of $1.05 million.
3) #2B: A 1,800-square-foot 2BR, 2.5BA asking $850,000, or $472/square foot. This one also saw a 10 percent chop in January, from last year's $949,000 asking price.
4) #2A: A 1,481-square-foot 1BR, 2.5BA asking $650,000, or $438/square foot. It was chopped 13 percent in January, after sitting at $749,000 through most of last year.
Will these latest prices be enough to get the last four units moving, or is the ex-church's second floor just not in God's good books?
· 2056 Fifth Avenue [StreetEasy]
· 2056 Fifth Avenue coverage [Curbed]