101 WEST 87
On a picturesque tree-lined street in the heart of Manhattan’s exclusive Historic Upper West Side district – 101W87 is a full-service modern luxury condominium featuring sixty-two (62) distinctive family-sized residences enhanced by white glove five star services with full-time doorman, 24-hr concierge, housekeeping, valet services and exclusive access to building amenities which include private courtyard garden, fitness center, resident’s lounge, children’s playroom, and landscaped private rooftop overlooking Central Park.
Originally built and operated as a limited service multifamily building containing mix of market rate rental apartments and rent-regulated affordable housing units. The property was acquired, vacated, significantly demolished, and subsequently abandoned after a failed attempt to convert the building to a residential condominium, eventually leading to the bankruptcy filing and auction sale of the property. Bazbaz executed an ambitious development plan to dramatically increase the building area by close to 40,000 SF additional density to a building in one of the most conservative historic landmarks districts in New York, and a strategic objective to create highly space efficient 3BR, 4BR, and 5BR family residences and offer them at prices 25% below $500 PSF below pricing of competitive product available in the UWS district.
The project received over 1,000 individual inquiries from prospective buyers for our sixty-two (62) condo units within the first week of launching sales. The project sold out within eight (8) months, four (4) months sooner than anticipated despite ten (10) sequential price increases, corresponding to an average sales velocity absorption rate 2x – 3x greater than the UWS new construction project average.
LUXURY RESIDENTIAL CONDO
UPPER WEST SIDE | MANHATTAN | NEW YORK CITY
62 UNITS | 15,000 SF RETAIL
FULL-TIME DOORMAN | 24-HR CONCIERGE | COURTYARD GARDEN | FITNESS CENTER | RESIDENT’S LOUNGE | CHILDREN’S PLAYROOM | ROOFTOP TERRACE