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'Bonkers Demand' Leads to Early Launch for New UWS Condo

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The former Park Columbus at 101 West 87th Street has officially left its troubles behind. After now-banned developer Yair Levy unsuccessfully tried to convert the 1980s rental building into condos, a partnership lead by Bazbaz Development bought the building and took over the project. A rep says the building aimed to hit "the sweet spot of family friendly, nice finishes, fancy new amenities and 'prime' UWS one block from Central Park," and hit the sweet spot it did?the conversion has been so successful that they've already had over 1,000 inquires and more than 20 contracts have been signed. The "bonkers demand" led to an early soft-launch of sales, with the first units hitting the market this morning for an average of $1,500/square foot. StreetEasy shows 23 units, 13 of which are already in contract. The most expensive unit available is a 4BR/3BA for $3.925 million, while the least expensive is a 1BR/1BA listed for $810K.

The building, which is still under construction, has 40,000-square-feet of new construction atop of the old 95-unit structure. The new building has 62 condos, a mix of one- to four-bedrooms, with one five-bedroom penthouse. Sizes range from 650-square-foot one-bedrooms to 2,300-square-foot three-bedrooms. Bazbaz told the Real Deal that the 2,000 to 3,000-square-foot penthouse will likely ask upwards of $7 million, but overall the building has a relatively low pricepoint because the developer acquired the building for a low price.

Building amenities include a courtyard, fitness center, lounge, sky terrace, and playroom. A more official sales launch will take place once a model unit is complete, which will happen this spring.

[One bedroom floorplan]

· 101 West 87th Street [official]
· 101 West 87th Street [StreetEasy]
· UWS Condo, Former Yair Levy Project, Launches Sales Under New Management [TRD]
· 101 West 87th Street [Curbed]