53 Locust Street
The two condo units, 53 Locust Street #A and #B, are reported under contract, asking price $1.399 each. I don’t know what final selling price will be because these are being sold either to or by the lender. Originally priced at $2.199 per unit, the project was put up by a really good builder with awful timing back in late 2007, early 2008. The downtown market curled up and died just then and so did this building. I thought they represented good value at their last price but they had to be sold together and I had no one around who wanted central Greenwich and had the money to buy two. One, but not two. Darn.
For What It's Worth 
I used to mock these downtown condos. Now I admit that when my kids head to college in 6 years I will be hoping to find one of these units, and a buyer for my 3 acre 8,000 sq. ft. supersized spread in mid country.
Especially when a nice 2 bedroom condo in Manhattan is $3MM – my original trade down plan.
I suspect in relative terms these appreciate and my very nice custom designed turbo house depreciate within 6 years.
I’ve got just the place for you in downtown, Anon, but it’s another one of those bank-owned deals, so you have to buy both. Still, at $3 million you’d have two great units, one to live in the other to rent out at $10,000: not bad. At a discount of something like $3 million each from original price. Now of course that original price was ludicrous but still, there’s a steep discount here.
I will email you tomorrow or Friday. Tks.
Sounds like you are referring to those units behind whole foods.
Chris,
Are you referring to the units across the street from the Putnam hill entrance?
And for 3 million!!
Wow
I remember when they were asking 6.9 million a peice.!
no, different project, though the ones you refer to are quite nice – I showed one to a rental client a year or so ago and we were both impressed. Not impressed enough to rent (or even buy) one, but impressed nonetheless.