Halstead Property

Mentioned in this Article:

Sidney Whelan
Sr. Vice President
Westside Office

Griffin Court Sees Surge In Sales

The Griffin Court Condominium in Hells Kitchen is seeing a surprising surge in sales, according to the property's developer Alchemy Properties, which is marketing the building with Halstead Property.

Sales went from 15 percent sold to 50 percent sold with the closing of 20 units in the last two months at the building. In May and June alone, the Alchemy Properties sales team said it has secured 25 sales in the 95-unit building, at 454 West 54th Street.

Following that success, seven lenders have approved Griffin Court for end-loan financing for up to 80 percent for qualified buyers, according to a statement from Alchemy. "Manhattan hasn't seen many residential sales spurts like this lately -- and we're excited to see the new movement happening at the building," Kenneth Horn, president of Alchemy, said in the statement. The building now has 18 additional units under contract and 16 closings scheduled for August, Alchemy said. Streeteasy.com indicates that 16 sales have closed at the property.

Alchemy had slashed prices by 15 percent for 15 buyers at the property in September , and brought in Halstead Property to help it market the building at the end of June. The units hit the market in March 2010.  -- Miranda Neubauer

Friday, August 05, 2011