Even up on Harlem's Gold Coast, there have been a few pockets of pyrite over the last few years. One of those appeared to be 114th Street's Gateway and its 112th Street sibling The Lore. The Gateway has stalled a few times over the last three years, and the Lore stopped construction when it was 90 percent complete after losing its loan, resulting in one very bored doorman. But the developer funneled $9 million of his own money into the two projects, until, early in the summer, he found a new loan. It's the kind of situation under which even the most devoted buyers might bail. Or is it?! Harlem Bespoke points out that 14 of the building's 35 units have actually closed, with another five in contract. One buyer got 20 percent off on a 1BR, 1BA penthouse, but all other discounts have been under 10 percent.
· Dwell: The Lore Condominiums [Harlem Bespoke]
· The Lore [StreetEasy]
· Harlem Developer Gives Up on Making Money to Save Projects [Curbed]