The development site at 50 Clinton Street on the Lower East Side was put on the market in June and has now been purchased by developer DHA Capital, who paid $28 million for the right to construct a seven-story condo building with 37 units. It looks like DHA is keeping basically the same design for 50 Clinton that was drawn up by architects Isaac & Stern, although the new rendering is more detailed and fancy-looking. As for pricing, the condos, which will be on the smaller side, will start around $1 million for a one-bedroom, $2 million for a two-bedroom, and $3 million for a three-bedroom. The building is expected to launch sales in early 2015, with the Eklund Gomes team running point.
· For some developers, small is beautiful: One- and two-bedroom (but still expensive) apartments are on the rise [NYDN]
· 50 Clinton Street coverage [Curbed]