20 minutes ago
Friday, April 3, 2009
Ah, Riverhouse. Similar to our obsession with 20 Pine, we cannot stop thinking about this development and covet the apartments there like a lost lover.
This building has (we think) the best location in Battery Park in an area (which we call BPC North) roughly parallel to TriBeCa. BPC North (which is the small strip north of the World Financial Center, west of the West Side Highway and south of Chambers) is located next to the best park (we think) in Lower Manhattan and has only one condo building: The Riverhouse. That is until (or if), Millstein ever gets Liberty Luxe built AND ends up selling those units instead of converting them to rentals, as rumor has it.
But we digress. Riverhouse is truly a spectacular development although anything even remotely (and it's remote in this economy) affordable here has an interior (often very ugly) view. The unit that we saw was a little "clone home" if you catch our drift, but the windows were big and the floors were beautiful as per the new construction usual. The view in this unit was indeed quite nasty, facing another piece of Riverhouse plus a garbage area.
Is Riverhouse subject to the woes of other downtown new construction? We're not sure...they tell us that they are about 75% sold and 50% occupied, which are much better numbers than the bankrupt 225 Rector Place, the "other" new construction in BPC. We haven't seen any recent price drops on #8B, although we got the feeling from the agent that they would drop about $100k on this unit if faced with an offer.