The site of a former parking garage on Mulberry Street doesn't seem ripe for breaking real estate records, but that's pretty much exactly what architecture and development firm Flank plans to do at their new condo 224 Mulberry. The project's broker, Tim Crowley, told the Times the prices will be "unapologetically high," about $3,500 per square foot, ranging from $6 million to $30 million. "We're going to set records on Mulberry Street obviously," said Crowley, "but we're in line with the other high-end, really-sought-after real estate in the city." The average cost for new construction in the tiny NoLita neighborhood hovers around $2,000/psf. So what justifies the nosebleed prices for the boutique 7-unit building? According to Flank, the size, quality, and amenities.
The building is only eight stories, but it will rise 110 feet, giving some of the two- to four-bedroom homes 25-foot ceilings. Other interior features include Art Deco mosaic flooring in the bathrooms, weight-and-chain mahogany windows grouped into 10' by 10' openings, and unusual kitchen cabinetry made of "glass embedded with wire mesh." Every unit will have a private terrace, and there will be a common rooftop deck. Other amenities, which are all included in the sky-high price of the apartments, include a gym, storage space, and at least one parking space per unit in the underground garage, plus a 24-hour doorman who will also park cars.
· Luxury Moves to Mulberry Street [NYT]
· 224 Mulberry [official]
· 224 Mulberry Street coverage [Curbed]