The $3,000-a-square-foot average HFZ plans to seek at the Belnord compares with $2,645 a square foot for all sales of newly built Manhattan apartments in the first quarter, according to a report by Miller Samuel and brokerage Douglas Elliman Real Estate.
Feldman sees his pricing for the Belnord as a bargain compared with apartments of similar size and historic stature that command a premium just because they’re closer to the park.
“If I want to live on the Upper West Side, and I want to live in the finest building and I can’t afford necessarily to be on Central Park in projects that are selling at $8,000 to $9,000 a foot, I’m going to be at the Belnord,” he said.
This article was provided by Bloomberg News.