Luxury Apartments for a Little Less

(The New York Times) For some developers, moderation seems to be the latest byword, and that is helping Manhattan become ever so slightly more affordable.

Bucking the trend of superluxurious condos with vertigo-inducing prices, a handful of developers are offering more moderately priced apartments in full-service, amenity-laden buildings. Of course, in Manhattan, where the going rate for new construction is about $2,500 a square foot, moderate price is a relative term. And these builders are not being altruistic as they undercut their competitors and offer apartments at less than $2,000 a square foot.

Buildings with units designed to sell for $2,000 or less a square foot include the amenity-laden 140 West Street (top row), where 22 floors are to be converted to apartments; and the Printing House at 421 Hudson Street (bottom row). Saul Metnick for The New York Times

Source: http://www.nytimes.com/2013/12/15/realesta...