The market rate condos at Silverstein Properties controversial "poor door" development at Riverside Center will actually be a tad more than market rate. The Real Deal got its hands on the offering plan for 1 West End Avenue, which is pending approval from the Attorney General, and it looks like many of the homes will fall decidedly in the "luxury" category of the market. There will be a 5,873-square-foot penthouse with a solarium and terrace asking $20 million; a 5,377-square-foot home with a 3,714-square-foot terrace asking $16.5 million; and a second penthouse, measuring 4,046 square feet, asking $12 million. The cheapest of the 247 condos will a one-bedroom listed for $1.25 million. The 116 affordable units, on the other hand, will rent for $800 to $1,400 per month.
The condo owners will also be able to buy storage units, which cost $25,000 eachwell more than a year's worth of rent for one of the affordable units. The condo owners will have access to a rooftop pool, but other amenities, including a 12,000-square-foot deck, will be shared by all residents and tenants.
The project has become part of the Poor Door Wars, as the affordable units will have a different entrance and address. Called 10 Freedom Place, developers Silverstein and the El Ad Group promised it would have a "first class entrance experience," and there would be "no cheaping out." The affordable units will occupy floors two through seven, while the condos will be in a cantilevering glass tower that rises 41 stories.
· Revealed: Pricing, floor plans for Silverstein's 1 West End Ave. [TRD]
· It's Not a Poor Door, It's a 'First-Class Entrance Experience' [Curbed]
· All 1 West End Avenue coverage [Curbed]