It's been a bumpy ride for 15 Union Square West, the conversion of the former Tiffany & Co. building into a glass-wrapped ultra-luxury condo castle. The journey has included price cuts, sales re-launches and even a stirring defense of the project by the architect, but things have settled down quite a bit. Seven units have now sold for an average of $5.3 million per apartment (high: $7.45 million; low: $488,000), and StreetEasy shows four more in contract. Speaking of StreetEasy, the site's message board thread on the building is once again active, and one commenter has a few thoughts on why sales in the building are a little slow. Take it away, anonymous stranger:
I did a viewing a few months back. The building is REALLY well built, and the interior is superb as well. However, there are some fatal flaws that I think will prevent it from realizing the developer's sales target. To put it bluntly, other than the Union Square view line of apartments, everything else is utter SHIT. The duplexes on the north side of the building faces an NYU dorm (I think), and the narrow street makes it even worse. On the other side, you are facing an internal 'courtyard', and basically starring into the windows of an office building. When I was in the bedroom, an office worker actually waved at me. That doesn't only plague the worse lines. The US view line has bedrooms facing the exact same internal 'courtyard'. Thus, you're left with apartments that are nice when you are in the living room, yet, make the owner dread returning to the bedroom. One more thing, the total square footage is greatly exaggerated, as they include the thick concrete wall surrounding the apartment, and the original Tiffany building columns actually cuts into that square footage even more.
I still love the building, but the developer needs to adjust the prices accordingly.
Harsh, yet loving. Like a parent! So when will the kids listen and chop away at those prices?
· Thread: 15 Union Square West [StreetEasy]
· 15 Union Square West [Official Site]
· 15 Union Square West coverage [Curbed]