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Condos at Renzo Piano’s Soho building will ask $5.6M on average

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Developers are looking for $650 million sellout on the condo's 115 apartments

Developers behind Renzo Piano Design Workshop’s first New York City condo are looking for a sellout of more than $650 million, The Real Deal reports. Construction is already underway on the 30-story Soho development, but sales are yet to launch on the condo’s 115 apartments. Pricing however was unveiled last month, and condos at 565 Broome Soho, as the project is known, will start from $1 million for a studio and go upwards of $20 million for a four-bedroom.

The project is a collaboration between Bizzi & Partners Development, Aronov Development and Halpern Real Estate Venture. This latest revelation means that the building's 200,000 square feet of salable space now have an average price per square foot of $3,260. The building is located close to the entrance to the Holland Tunnel, and that had at one time proved a deterrent to developers, but all of that seems to have changed now.

Construction on the project is expected to wrap up sometime in 2018.