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FiDi condo conversion almost sold out

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FiDi condo conversion almost sold out



Wendy Maitland of BHS and 88 Greenwich
Last week, 88 Greenwich in the Financial District closed on its 407th unit, making it more than 90 percent sold, a milestone for the 452-unit condo conversion that’s been on the market since 2007, according to the New York Post. Developed by Andrew Heiberger’s Button Real Estate, many industry insiders originally thought the project would not succeed. But the building, which has an additional 10 units in contract, decided to do its conversion in pieces. Units on the top floors were spruced up with luxury finishes and, as construction wound down, the existing rentals on the first three floors were vacated and sold off. Overall, sales prices have been relatively modest, with apartments in the building getting less than $1,000 per square foot. [more]

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