| Condo conversions are back, our friends at Massey Knakal tell us.607-09 Hudson Street, an elevatored (we love that word), seven-story, assisted living facility in the heart of Manhattan’s Greenwich Village was recently sold by VillageCare for $33.3M cash to FLAnk,an architecture, development, and brokerage firm. FLAnk’s plans are for 10 condos (from 3,300 to 9,000 SF), and to build on its recent successes in the area, including The Novare at 133-35 West 4th St and 385 West 12th St. The sale demonstrated the strong demand for conversion opportunities in prime locations such as Greenwich Village, says Massey Knakal partner James Nelson (who spearheaded the marketing of 607-09 Hudson St). “The record pricing at $5,000-plus/SF achieved at the nearby Superior Ink condominium will bode well for the buyer.” Find more info on Massey Knakal here. |
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James Nelson, Superior Ink
