Harlem's Fifth on the Park has about 70 of its 160 units still to unload and a pesky buyer backout case making its way through the legal appeals process. That might lead some developers to despair, but not Artimus Costruction and Uptown Partners, the team behind Fifth on the Park, where the average price per square foot is around $914. Like Harlem's The Lenox, which has just made some steep chops following a bankruptcy filing, Fifth on the Park's developers have price cuts in the pipeline. But they're getting creative with the reveal. Crain's reports the development team will be holding two parties for brokers to announce the chops (and a few new amenities). And five lucky party attendees will be getting free iPads. Now this is the kind of choppage we like to see!
· Prices to be slashed at big Harlem development [Crain's]
· Fifth on the Park coverage [Curbed]