Condo of the Day: 515 5th Avenue

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So far, greenbacks have been following a green development into the Slope: Most of the units at 5 One 5, an environmentally friendly condo (and former advertiser) at 515 5th Avenue, have been snapped up since the development hit the market this April. The first 10 units at the building—which has a green roof that’s meant to sidestep drainage problems caused by heavy rains and also boasts more quotidian eco-happy features like bamboo flooring—are now in contract. Now the final five units in the condo (all of them on the top three floors) are also on the market, and the price tags are steeper than the $650- to $700-a-square-foot the first 10 units were asking this spring. The remaining apartments are ranging from $779,000 for a 960-square-foot two-bedroom, two-bath to $1.2 million for a 1,100-square-foot three-bedroom, two-bath. Given the speed with which the first condos sold, we’re betting the last five aren’t going to have too much trouble fetching $800+ a foot. It’ll be interesting to see whether other developers in and around the Slope (on 4th Avenue, say) take a cue from 515’s success and also start going green.
515 Fifth Avenue: The Slope Goes Green [Brownstoner] GMAP
5 One 5 Condominiums [Aguayo & Huebener]

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