Wednesday, April 8, 2015

Myles Horn of ABC Properties (Another Cornfeld partner)

Printing House 50 percent sold after seven months

New development releases 15 new units starting at $1.65M
October 11, 2013 08:42AM
By Hayley Kaplan

Model unit at the Printing House at 421 Hudson Street
Model unit at the Printing House at 421 Hudson Street
After hitting the market in March, the Printing House at 421 Hudson Street is now more than 50 percent in contract and is releasing a slew of new units, the developer told The Real Deal exclusively. 
“We’ve developed a product that the market responded very well to,” said Tricia Hayes Cole of Corcoran Sunshine, which is marketing the building. So far, the West Village development has seen a “diverse mix” of buyers, she said, which reflects the mix of one- to four-bedroom units at the project.
Buyers have included single people, couples, families, foreigners and parents purchasing for their college-aged children, Cole noted. Eight units in the building have already closed, she said.
Under an amended offering plan, the 58-unit Printing House listed a variety of new one- to four-bedroom units ranging from 750 square feet to 2,700 square foot and starting at $1.65 million to $5.7 million, Cole said.
The development’s condo units will be complete around the second quarter of 2014 while three maisonettes and two townhouses will be finished at the end of 2014 or early 2015, Cole said.
Developers Myles Horn, Belvedere Capital Management and Angelo Gordon & Co. purchased the building in 2011. They also used a signature fragrance to help market the units, as The Real Deal previously reported.
The average price per square foot for closed sales in the building is $1,835, and active listings average $1,918 per square foot, according to StreetEasy.
The former industrial building, which once housed a printing house, features loft-like homes with 15-foot ceilings and 11-foot windows, in addition to new construction townhouses with private terraces and garden entrances. Amenities include a concierge service, an on-site private Equinox gym, complimentary one-year membership to a dog daycare facility, private storage and on-site valet service.

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