The gilding of the East Village slowed when the market downturn put the brakes on financing for new developments, but properties that got built or set in motion are now starting to fill. The idea that people would be willing to build?and pay for?multi-million-dollar units east of Avenue A would have gotten one written off as a Tompkins Square Park babbler or locked up in Bellevue 20 years ago. Now, a penthouse two blocks north of Tompkins Square is listing for $1.7 million. A few blocks away, musician John Legend is asking more than $2,000 a square foot ($2.95 million) for his 2BR condo. Up on Third Avenue and 11th, 123 Third is offering duplex and full-floor penthouses on the same lot that housed a porn store and a nail salon five years ago. Time to rename Loisaida Avenue, El Dorado Drive?
· Rise in the East [NYP]
· Development Update-o-rama! [Curbed NY]