WD-50 is Reduced to Rubble for 7-Story Condo Development

Posted on: June 5th, 2015 at 5:18 am by
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Thar she blows! That there be the end as we know it for the low-rise midsection of Clinton Street. All in the name of uber-luxury and its well-off minions.

That’s right. Demolition of 50-62 Clinton officially commenced this week after a substantial holding pattern the last couple months. At least a fraction of that timeout period apparently owes itself to site violations. The former home of WD-50 was the first of the few to fall.

It was a good run.

Once these parcels are reduced to rubble, the monument to gentrification can be erected and stocked with its ilk. Seven stories, in fact, boasting 37 units across 37,868 square-feet of floor area. Entry level cost for buyers in this brick hunk is north of $1 million.

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Sales went live at 50 Clinton Street back in April, and it’s apparently going pretty well. Approximately 40% of the total 37 units in the building are already sold, according to the New York Times. That’s in the neighborhood of a dozen apartments.

DHA Capital – which acquired the property for a record $28.95 million – is targeting “first-time buyers and young professionals” (yuppies?) to populate the new development.

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