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Hell's Kitchen's The Dillon Sells Steadily, But at a Discount

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Hell's Kitchen glasstravaganza The Dillon held a party last week to celebrate the "grand opening" of its townhouses, some of which, according to StreetEasy, have been on the market for upwards of 200 days now. (There are also a few newbies.) But let's not quibble over details?there are far more important questions to be answered where The Dillon is concerned. Such as: how exactly are sales at the building going now that a few flashier neighborhood projects have debuted to compete? StreetEasy shows 39 recorded sales at an average price of $1,017/square foot. Since the average ask for an active listing is currently $1,359/square foot, we're going to guess the numbers aren't quite matching the sales team's early hopes. As for specific discounts, we see sales at up to 17 percent off, with only two transactions exactly at asking price.
A few of the sold units continue to find their way onto the rental market. At the moment, two rentals are available: a 1BR asking a mildly PriceChopped $3,950/month and a brand new-to-market 2BR asking $5,900/month. If the folks on the building's sales side are feeling at all discouraged by the discounted purchase prices, that feeling hasn't made it over to the rental side.

A snapshot of sales since we last checked:

· The Dillon at 425 West 53rd Street [StreetEasy]
· The Dillon coverage [Curbed]

The Dillon

425 West 53rd Street, New York, NY