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Woolworth Developers Seek Outside Sales Help Amid Luxury Slowdown

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Alchemy Properties has hired Sotheby's to improve sales

Interior of the Woolworth Building's model unit.
All photos by Will Femia

With increasing concerns about the slowing luxury market, the developers behind the Woolworth Building conversion have brought in a new team to market its 33 condos, The Real Deal reports.

Alchemy Properties has roped in Sotheby's International Realty after its own sales director quit six months ago, according to TRD.

The development firm would not reveal how many units have been sold, but construction is still underway, and the project is expected to be complete in 18 months.

Some of the other tweaks Alchemy plans to make includes modernizing the interiors designed by Thierry Despont who had gone for a more 1920s look with the conversion.

Alchemy paid $68 million to acquire the top 30 floors of the historic building and convert it into condos. Prices range from $3.5 million for a 1,200 square foot apartment on the 44th floor and could go up to a rumored $110 million for the penthouse.

Woolworth Building