The tower doesn't quite have a rescue plan in place, it's swamped in lawsuits, and residents don't have their promised swimming pool and spa, or even a real entrance not covered in plywood and scaffolding. But other than that, residents, how's life in One Madison Park? Actually?not too bad! The Journal surveys a few of the dozen buyers who closed on apartments in the building before its troubles hit, and there are some perks of life in a near-empty building. The staff is still in place despite the foreclosure filing, which means there are a dozen staff members for the same number of building residents. Those residents have no common charges until the building comes back to life. And because there are only two apartments on each floor, the building's emptiness is hardly noticeable, said one owner. Of course, the owners who've already chosen to rent out their units might disagree.
· Buyers Rough It in Condo Tower Left Unfinished [WSJ]
· One Madison Park coverage [Curbed]