Teddy Roosevelt wasn’t thinking about luxury condo sales when he said “speak softly and carry a big stick; you will go far,” but the saying applies to many of New York City’s best-selling towers.
Zeckendorf Development and Atlas Capital Group’s 80 Clarkson Street, a set of planned 400- and 450-foot high sticks, has been adhering to that motto thus far. The developers and sales team have hardly uttered a public peep since quietly launching sales in the spring, but an offering plan amendment hints at the success the project has had thus far.
In an amendment filed over a month ago, the development’s sponsors released pricing on 16 more units for a total volume of $360 million. The fresh batch of units comes after the developers released pricing on 22 residential units for a total volume of $430 million, along with four suite units, storage lockers and wine cellars and parking for a total offering plan price of nearly $540 million.
The offering plan amendment bumps that total to $900 million, despite less than half of the 112 residential units and none of the penthouses being included.
The most expensive unit released in the amendment was unit 36 in the west tower, with a price of $46.95 million. The 5,120-square-foot apartment has the highest price per square foot of the 42 priced units at $9,174.
The four-bedroom home has two terraces, a covered loggia and a private elevator foyer.
Although the comparison is not apples-to-apples, the 16 new units have an average price per square foot of $6,127 compared to $5,576 for the previously priced units.
If the sales team led by Dan Tubb and Amy Williamson is increasing pricing, it would come as no surprise, as multiple agents have told The Real Deal that discounts are nearly nonexistent at the hot-selling building.
The project’s success so far was hinted at The Real Deal’s New York City Showcase and Forum. Developer Jonathan Landau said he heard an unnamed West Side project had “opened up with about half a billion dollars of sales in the first 30 days.”
The sellout for the project is now expected to be closer to $2 billion, likely with room to rise if the property continues to its hot start in an inventory-starved market.
“That’s the big one that everyone is interested in,” John Gomes, the co-founder of Douglas Elliman’s top-producing Eklund-Gomes Team, previously said. “That’s the one everybody wants to get into, the one everyone wants to sell in.”
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