Extell to Begin Domestic Sales at 80-Story One Manhattan Square in September

Posted on: March 10th, 2016 at 5:10 am by

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Extell’s controversial 80-story waterfront tower

Representatives from Extell Development Corp. and the LendLease management company stopped by the Land-use subcommittee of Community Board 3 last night to provide additional updates on the 80-story waterfront bonanza at 250 South Street. Much of the info was actually well-tread territory. The main takeaway from the hour-long session, however, is that sales go online for domestic buyers in September.

You’ll recall that, since late last year, the 815 condo units have been pitched solely in foreign markets. Asia, specifically. But it doesn’t seem to be going too well given the recent price chop.

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Note the treehouse

Other highlights, in no particular order…

  • The market rate tower – aka One Manhattan Square – is on target for completion in 2019. Work is underway on constructing the superstructure, as previously reported.
  • The “poor door” affordable building, set to rise thirteen stories, will begin its ascent in the third quarter of this year. It’s on track for completion in the second half of 2018. The bonkers amenities of its older sibling are segregated for the upper class.
  • A semi-public parking garage with 110 spots (operated by third party) is planned for the four-story podium beneath both towers. However, reps let slip that it’ll probably sit closer to the affordable building. Any spaces not taken by condo owners will be offered to public. Entrance onto South Street.
  • At least 60 to 100 apartments in the nearby 82 Rutgers building were damaged due to foundation activity. Extell is committed to fixing, and maintains that the residence is “structurally sound.”
  • There’s concern about the reflectivity of the glass affecting residents in adjacent buildings. Response was that they don’t foresee any issues. CB3 District Manager Susan Stetzer urged the development team to conduct tests. Of course, the light would reflect into the “poor door” building.
  • Extell intends to install an “affordable” supermarket onsite, but stopped short of a full-blown commitment. Discussion about the retail component here (40,000 square-feet split into three) is apparently still “premature.”
  • When asked by the panel how the lower-income residents would benefit from the One Manhattan Square project, the response was a line of bullshit about “adding vibrancy” to the area.
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