Madison offering rare bargain in city's high-priced market.Have buyers uncovered a rare "bargain" in Manhattan's high priced luxury condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. market? Cantor Pecorella, the exclusive sales agent for The Grand Madison at 225 Fifth Avenue, the majestic landmark building that sits directly across from historic Madison Square Madison Square is a neighborhood on the East Side of the New York City borough of Manhattan, centered on a 6.8 acre (2.75 Hectare) public park in the New York City borough of Manhattan, named for James Madison, fourth President of the United States and co-author of the United Park, at 26th Street, reports that a total of 15 one-bedroom homes featuring large home offices have recently sold at the sought-after project. "These residences have the look, size and feel of two-bedroom homes; they function like two-bedroom homes; but they're priced much lower," notes Dana Pecorella, president of the real estate firm bearing her name. "Best of all, the resale resale n. selling again, particularly at retail. In many states a "resale license" or "resale number" is required so that the state can monitor the collection of sales tax on retail sales. RESALE. value of these units, as well as all of the residences at this building, are phenomenal because of the property's extraordinary Fifth Avenue location across from the park as well as its landmark features and amenities." Available one-bedroom with home office units at 225 Fifth Avenue range in size from 1,200 square feet to 1,600 square feet with asking prices starting at $1.4 million. A wide variety of layouts with 10-foot high ceilings and home offices as large as approximately 13-feet by 13-feet, are now being marketed for sale. "With prices ranging from $1,100 to $1,300 a foot, these units represent some of the best values in today's marketplace and apparently buyers are starting to pick up on that," added Ms. Pecorella. The early century Renaissance Revival brick and limestone limestone, sedimentary rock wholly or in large part composed of calcium carbonate. It is ordinarily white but may be colored by impurities, iron oxide making it brown, yellow, or red and carbon making it blue, black, or gray. The texture varies from coarse to fine. structure, with its distinctive vintage facade facade (fəsäd`), exterior face or wall of a building. The term implies ordered placement of its openings and other features and thus seems inapplicable to a wall without design. comprised of elaborate cartouches and regal re·gal adj. 1. Of or relating to a monarch; royal. 2. Belonging to or befitting a monarch: regal attire. 3. Magnificent; splendid. balconies, is being transformed into luxury condominium homes by Elad Properties El-Ad Properties is a real estate developer based in New York City, with extensive holdings in the United States, primarily New York City. The company is owned by El Ad Group, based in Israel. , one of New York's leading residential developers. The building will offer a total of 193 spectacular residences, including 23 magnificent penthouses. Prices for available one, two and three-bedroom homes currently range from $940,000 to $3.26 million. The dramatic transformation of 225 Fifth Avenue, which first opened in 1906, is being carried out from architectural plans by the New York-based design team of Gal Nauer Architects and Perkins Eastman. |
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