Extell’s Treehouse, and Other Ways the 80-Story ‘One Manhattan Square’ is Being Shopped to Foreign Buyers

Posted on: November 10th, 2015 at 5:00 am by
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With the first Extell expo for Asian buyers now a footnote in the building’s history, we can dive into some of the marketing literature of One Manhattan Square. In particular, the 80-story monolith is being heralded by JLL Residential as “your private playground,” an all-inclusive middle finger to country club right smack in the middle of low-income housing.

The residential composition of 252 South Street (a change from 250 South) is already known. There will be more than 800 high-end condos of the 1-3 bedroom variety. Extell is banking on the “cheap” pricing – between $1 million and $3 million – to allure buyers. Strategy is to approach the Asian market first; there’s a lot of inventory to fill.

“We think that’s a reasonable place to be,” Barnett told Crain’s last month. “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.”

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Most importantly, though, millionaire dwellers will have access to a – get this – treehouse (!), plus outdoor kitchens, and tea pavilion. If that’s not enough, other amenities include, squash courts, gym, golf simulator, outdoor pools, and even a “home theater.” Those Turkish baths we previously told you about are no longer part of the plans, so deal.

One Manhattan Square is creating a new model of garden square for New York, wrapping greenery around the outside of its residences and providing an unprecedented 73,000 square-feet of outdoor amenities.

  • Dedicated entrance on Pike Street Plaza (?) and professional staffed reception area.
  • Outdoor amenities include outdoor kitchens and dining, fire pits, a treehouse, and a tea pavilion.
  • State of the art facilities including squash courts, gymnasium, golf simulators, outdoor pools, and home theater.

We find the following infographic particularly amusing. “Charms of Chinatown,” “A short 7 minute drive to the Financial District,” and “Get your culture fix in Tribeca” are all pimped as reasons for investing. There is almost no mention of the Lower East Side, its history, or otherwise in any of these materials.

Completion date for One Manhattan Square is advertised as fourth quarter of 2018. It’s gonna be a long three years. Maybe it’ll flood…

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