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Ultra-Luxe Manhattan Homes Selling in Sign of Economic Resurgence

By Andrea Swalec | February 14, 2012 1:18pm
More modest condo units in 350 West Broadway have 28-by-22 combined living and dining rooms.
More modest condo units in 350 West Broadway have 28-by-22 combined living and dining rooms.
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350 West Broadway

MANHATTAN — Multimillion-dollar SoHo homes that dropped out of the market during the economic downturn are hot again.

It's a signal of resurgence in buyer interest in the city's most upscale real estate, the sales firm of a West Broadway condominium building said Monday. 

Three condos in the 10-story glass building at 350 West Broadway have sold in the last month for $7.2 million, $8 million and $9.1 million, Corcoran Sunshine Marketing Group sales director Donna Puzio said. 

"We got very busy, very fast, and I think it shows a resurgence in the ultra-high-end market," she said. "[Interior designer] Bill Georgis did a great job of mixing the Park Avenue feel with the SoHo loft feel, and that's what people are responding to." 

The view from the 1,300 square-foot terrace of the penthouse in 350 West Broadway includes the Empire State Building.
The view from the 1,300 square-foot terrace of the penthouse in 350 West Broadway includes the Empire State Building.
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350WestBroadway.com

Sales of the building's seven units, which are priced at more than $2,300 per square foot, stalled in 2008 and 2009, when its former brokers from Stribling Marketing Associates failed to sell a single unbuilt unit, Puzio said. 

Corcoran took on the building, which is located between Broome and Grand streets, in January 2010. The firm put the condos on the market once the lobby and the fourth-floor model apartment were finished, and it dropped the prices by more than 10 percent, she said. 

The building's lobby, which has oak floors and black granite walls, welcomes residents to homes with walnut-stained white oak hardwood floors, granite countertops, marble bathrooms and private terraces, the building's website says.

The available $26 million, 5,900-square-foot penthouse includes three bedrooms, four bathrooms, a "media room" with space for a pool table, an exercise room and an 18-by-9 -foot gallery spread across two stories, according to its floor plan.

The penthouse has a roof terrace larger than many Manhattan apartments. The 1,330-square-foot deck provides "postcard views" of the city, including the Empire State building, according to the site. 

A more modest unit in the building, like the available seventh-floor condo listed for $8.65 million, has two bedrooms, three bathrooms and a balcony. 

Units on the 350 West Broadway's fourth and sixth floors are also for sale for immediate occupancy and are priced at $9.95 million and $8.95 million, respectively, Puzio said.