Extell Seeks Foreign Buyers First for its 72-Story Monolith on South Street; Sales Start at $1M

Posted on: October 15th, 2015 at 5:10 am by

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The middle finger to the LES, Photo: Extell Development Corp.

Extell Development Corp. chief Gary Barnett is finally spilling the beans about his waterfront monstrosity, One Manhattan Square. Mind you, not to the Lower East Side community at large through meetings organized at the local level. Rather, to the international press.

After evading the barrage of questioning from concerned neighbors this summer, Barnett instead tells Bloomberg Business that the South Street tower – slated to reach a height of at least 72 stories – will start marketing the 800+ condos overseas first. In fact, Extell hired Jones Lang LaSalle Inc. to pimp the property internationally, with exhibitions planned next month in Shanghai, Hong Kong, Beijing, Singapore, and Kuala Lumpur. Don’t worry, though; these units are “cheap” – in the $1 million to $3 million range.

The above rendering is an official look, arriving more than a year after the project initiated.

“We think that’s a reasonable place to be,” Barnett told the publication of One Manhattan Square pricing. “There are a tremendous amount of people who would like to own something in New York City but are priced out because everybody’s building super-luxury.”

As previously reported, the enormous tower of Sauron – nearly three times the height of the Manhattan Bridge – will carry 1.1 million square-feet with 815 units and various over-the-top amenities. The complex earmarked approximately 50,000 square feet for indoor perks like “art studios” for residents, bike storage, pools, gym, “screening room,” game room, and “library lounge.”

Of course, no mention of the affordable “poor door” building located directly next door.

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