Unlike all the other new condo buildings in Battery Park City, One Rector Park is, well, not exactly new: not only is it a conversion of a 1985 rental building, but it's been on the market before, with not great results. It went missing and then back to the bank, and building reps tell us all but one of the original buyers took the right to rescind. But last week the building hit the market again, with fresher, cheaper pricing. The sales team invited us over for a look at the now-finished building, where apartments are asking $245,000 to $2.85 million in an attempt to be competitive with neighborhood resales rather than new development. Despite the odd move of returning to the market on a Friday in mid-August, the sales folks tell us they have 33 contracts out.
The sales effort is probably helped by the fact that most of the amenities?gym, residents' lounge, business center, and playroom?are already done and ready for prospective buyer viewing. The apartments themselves also have a few futuristic features, like built-in TVs in the bathrooms. Of course, the amenities are all included in the building's common charges, which are already high enough to be a dealbreaker for some prospective buyers. Take a look at the building shots above and weigh in: even after the PriceChops, are the common charges too high a price to pay?
· Official website: One Rector Park [1rectorpark.com]
· One Rector Park coverage [Curbed]