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Mentioned in this Article:
Stephen G. Kliegerman

Stephen G. Kliegerman
President of Development Marketing


Harlem's 2280 FDB Commands Top Price Per Square Foot

Measurements Reflect 2280 FDB Stats from January 2010 to Present;
Development Nearly 65% Sold

BY Nicole Amato

NEW YORK, NY— Halstead Property Development Marketing and RGS Holdings, LLC, in conjunction with Goldman Sachs Urban Investment Group and JP Morgan Chase Community Development, today released data that shows 2280 FDB, a 12-story, 89-unit residential development on Frederick Douglass Boulevard between 122nd and 123rd Streets, commands the highest price paid per square foot at closing among Harlem developments.

In the report released by Halstead Property Development Marketing, the statistics reflect activity between January 2010 and June 2011 and show 2280 FDB commanding an average closing price of $736 per square foot. Among the 25 other developments, the Parc Standard at 2101 Eighth Avenue ranked second with a closing price per square foot averaging $720, followed by 5th on the Park at 1485 Fifth Avenue with $719 per square foot.

“Discerning buyers know that quality, especially when it comes to buying a home, is worth paying for,” said Stephen G. Kliegerman, president of Halstead Property Development Marketing. “Impeccable designs, amenities and the increasingly popular neighborhood will continue to attract buyers as we embark on the final phase of sales.”

In related findings, 2280 ranked third out of 26 competing new developments when it came to the number of units sold (28) and fourth in number of contracts signed (26) over that period.

“A lot of people are coming up to Harlem purely on a price per square foot basis, but not all of them,” says the developer, Hans Futterman. “A growing number of real buyers know when they come to our building, the aesthetic choices, quality of construction and finish are comparable to the best developments in NYC and they’re willing to pay a little more for it.”

With construction complete, closings and move-ins began in July 2010. The building, located in the heart of Harlem, is available for immediate occupancy and is approved for Fannie Mae, FHA, VA and SONYMA financing, providing buyers with multiple options for mortgages at the most competitive rates.

56 out of 89 condominium units have sold or have contracts out. The remaining 33 residences at 2280 FDB range in size from 455 square foot studios to 1,625 square foot three bedrooms and in price from $339,000 to $1,889,000. The development includes a mix of studios, one, two and three-bedroom homes, along with five penthouses that have rooftop fireplaces and 53 inch gas grills. Residences were designed with an emphasis on private, outdoor space, and some units include balconies or terraces that range in size from 520 to 1,310 square feet.

Homes at 2280 FDB feature high ceilings, wide plank oak flooring, and recessed lighting. The open, modern kitchens feature Aster Cucine custom cabinetry with CaesarStone countertops and Electrolux ICON, Wolf, Sub-Zero and Miele appliances. Honed Grigio Luna Stone master baths feature separate showers, Neptune Zen air jet tubs, and custom-designed walnut vanities. Surprising architectural enhancements are sprinkled throughout many of the homes.

Among the numerous amenities: access to the 12th floor communal roof deck, which includes a fireplace and Thos. Baker outdoor furniture, a children’s play area, onsite parking and 24/7 doorman.

2280 FDB was designed by architectural firm GF55 and developed by RGS Holdings, a privately funded real estate development firm with a current focus exclusively in Harlem.

Thursday, June 16, 2011

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