163 Washington Avenue, the once-controversial development between Myrtle and Park Avenues in Clinton Hill, will come to market in January and, interestingly, will stick with its plans and stay condo. This info, along with some detailed economics of the project, were revealed at last week’s quarterly session of the Real Estate Roundtable by developer Mark Caller. Turns out that Caller’s company GLC bought the land for just $80 per buildable square foot. Its sales strategy is to start selling the lower floors at a breakeven level of about $560 per square foot and hopefully fetch more for the higher floors a little later on. Think it’ll work? On another note, check out the brick they’ve started to put on the southern facade in recent days.
Development Watch: 163 Washington Topping Out [Brownstoner]
Development Watch: 163 Washington Avenue [Brownstoner]
Windy Times at 163 Washington [Brownstoner] GMAP
What’s Up With 163 Washington Avenue? [Brownstoner] DOB
Development Watch: 163 Washington Avenue Rising [Brownstoner]
Development Watch: 163 Washington Avenue Takes Root [Brownstoner]
Back in Business at 163 Washington Avenue [Brownstoner]
Work Resuming at 163 Washington Avenue? [Brownstoner]
11th Hour Compromise at 163 Washington? [Brownstoner]
Fate of 163 Washington Avenue Still TBD [Brownstoner]
BSA Considers 163 Washington Plans For a 3rd Time [Brownstoner]
Day of Reckoning for 163 Washington Avenue? [Brownstoner]