The unit mix will be 75 percent one - bedrooms and 25 percent two - bedrooms, with an average overall price of about $ 1.4 million, higher than the median sales
price for luxury condos in Queens, according a report from appraisal firm Miller Samuel.
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When Hines landed $ 860 million in construction
financing for its luxury condo project at 53 West 53rd Street in 2014, it was a born - again moment for the ambitious development, which sits just blocks from Billionaires» Row.
De Blasio said Cuomo only wants a one - year extension of the current 421 - a program, which he criticized for providing tax
breaks for luxury condos without requiring more affordable housing.
Ricardo Morales, the city official who approved lifting deed restrictions that allowed a Lower East Side nursing home to be
flipped for luxury condos, was fired just hours after de Blasio's highly anticipated sit - down with federal prosecutors, his attorney confirmed.
The Buildings Department quietly lifted portions of a stop - work order on the Rivington House Nursing Home — infuriating neighborhood activists and elected officials who fear that opens the
door for luxury condos.
De Blasio claims he first learned the health care facility had been sold over community
objections for luxury condos from news stories in March.
The artists sued a Long Island City property owner for demolishing their graffiti mural to make
way for luxury condos, AP reported.
«It also looks like we've successfully ended
benefits for luxury condos, with only mid-market units in the outer boroughs now eligible.
In the year ahead, demand for multifamily properties in urban areas and in the affordable housing sector will continue increasing, while
appetite for luxury condos may slow down, predicts Byron Carlock, Jr., U.S real estate practice leader with...
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