Although we ran through a couple of units at Battery Park City new construction beauty 30 West Street (aka "Millenium Tower") back in May, we never wrote about our visit since it was a) brief and b) boring. Today, we decided to check back in with 30 West Street, a 100% sold Millenium Partners development (which also brought you the BPC Ritz-Carlton) that welcomed it's first residents back in 2006.
The unit that we decided to look back on is #32D, an 875 sq ft 1 bedroom, 1.5 bath that sold for just $699,000 about a month ago. Considering that the apartment was most recently listed for $775,000 and was purchased at the height of the market in May, 2007 for $900,000, we thought that $699k was a pretty good price. When we looked at other sales in the building however (which started closing in December 2006), we were even more surprised that not only is $699k a great price, it's also the lowest sales price that this building has ever seen on ANY UNIT .
The prior record holder was also a "D" line apartment on a much lower floor - #5D - that sold in 2006 for $710,000. So did we like this building when we saw it? Actually, yeah - it has nice common areas and the apartments that we saw (which both happened to be high-floor "D" lines) were very well laid-out, with attractive finishes, well-appointed large open kitchens, and a W/D in the unit. Oh, in case you're wondering about those seemingly low common charges (remember, this building is still in Battery Park), the common charges at 30 West St are sponsor-abated (good idea, good idea) for about 5 years. Currently the abatement is on Year 2, so the common charges on the apartment are actually just 40% of what they would be in Year 5 (they increment 20% per year).
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