MULTIFAMILY MONDAY: CONDOS CAN BE DONE
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|For the first time ever, says Orin Wilf, his company is bringing condos to market at just the right time. Skyline Developers topped out its 200 E 79th St condos last week and already has a list of 1,000 interested buyers for the 39 units. (King Solomon has advised cutting the condos in half, but imagine the zoning paperwork.)|
|This morning, Skyline Developers' president Orin (second from left, with the other Wilfs: Leonard, Minnesota Vikings owner Zygmunt,Jonathan, Jeffrey, and Mark) told us he began assembling the five lots five years ago and sales will finally launch in the fall, once the attorney general signs off on condo approval. Orin says Skyline and the brokers at Stribling Associates haven't done any marketing for the three to five-bedroom units other than a sign at the construction site. "Everyone's looking for more space," hence the three-, four-, and five-bedroom units. Likely buyers are hedge fund, Wall Street, doctor, and lawyer types, particularly families with kids who go to school on the Upper East Side. Orin also tells us a lease with a major retail tenant may close by the end of the week.|