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290 Mulberry's Troubled Starchitecture Sells, Will Go Rental

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The unfinished condo at 290 Mulberry Street is New York's saddest starchitecture, standing empty amid the credit crunch and left peeling (or peeling further) after Hurricane Irene this summer. But there's hope for even this sad specimen: Crain's reports that an unidentified buyer has purchased the building for $25 million (the exact asking price). The building has been sitting at about 90 percent finished, and according to Crain's, that means around six months of work?which developer Cardinal Real Estate Investments and architect SHoP are apparently going to see through to the finish.

What can we expect of 290 Mulberry once it's done? Rentals, according to the Massey Knakal broker who sold the building. Just a few years ago, the building's three-story penthouse was asking $7.5 million and the building team was showing off all the planned details and amenities?so this is still a bit of a sad story after all.
· Famous collapse victim reborn as rental [Crain's]
· 290 Mulberry coverage [Curbed]

290 Mulberry Street

290 Mulberry Street, New York, NY 10012