Is Extell Resorting to Rentals at One Manhattan Square? [Updated]

Posted on: April 16th, 2019 at 5:00 am by

For many on the Lower East Side waterfront, Extell’s purported woes are a lesson in schadenfreude. Especially given the years of construction hell endured by those in the vicinity.

Apparently it’s much ado about occupancy.

No sooner do move-ins happen at Extell’s One Manhattan Square than residents start renting out their pricey new pads. That in and of itself is not totally out of the ordinary. More telling, rather, is the apparent rental listing on Extell’s official marketing website.

Update: a spokesperson for Extell corrects the record, and states that “These are investors’ units that have closed and are trying to rent the unit.”

The studio apartment “8G” is going for $4,246 amidst a sea of other listings in the multiple millions. Is this an admission of a problem or simple typo?

Probably the former, as there are at least five rental listings on StreetEasy.

Photo: StreetEasy

One tipster alleges that, a couple months ago, the Instagram byline for the One Manhattan Square account stated “sales and rentals.” But apparently the description was short-lived.

If this listing is intentional, and a rental, it would further lend credence to the argument that the 850-foot skyscraper is on shaky ground. Also remember that Extell is offering up to 10 years of free common charges to prospective condo buyers who purchase before July 4.

Yet, who would want to purchase a new apartment that’s already been rented out?

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