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As Closings Get Going, Apthorp Discounts Finally Revealed

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After developer feuds, legal wrangling, tenant agitation, and a 25-sale deadline crunch, the Apthorp has finally gotten the thumbs-up and started actually selling units, making Mayor Bloomberg very happy. Now the first few closings are finally hitting public record, making us very happy (c'mon, we know that's what's really important here!). Now we can find out just what kind of discounts buyers got in exchange for signing on the dotted line and helping Dolly out. Three closings have shown up so far in ACRIS, for units PHA, 3B, and 10L, and the discounts from asking prices are pretty substantial, though the asking prices themselves never actually meant much. Starting things off was itty-bitty 450-square-foot PHA, which sold for $123,717 after being listed in contract at $895,000. That's an 86 percent discount, presumably because the buyer took the apartment in its cheaper unrenovated form.
The whopping price cuts on the other two closed deals indicate that those buyers also went for discounts over design. Apartment #3B, a 2,350-square-foot 2BR, 2BA, sold for $2,859,500.56 after being listed for $6.608 million. The buyer of 10L picked up the 4BR, 3BA, 2,967-square-foot place for $3,889,715, down from a list price of $5.75 million. All the buyers are hidden behind LLCs, so no evidence of any truth yet to the Apthorp's persistent celebrity rumors.
· The Apthorp at 2211 Broadway [StreetEasy]
· Apthorp coverage [Curbed]

Apthorp Building

390 West End Avenue, New York, NY 10023