In 2007, before the financial world turned upside down, a condominium developer signed a contract to pay more than $33 million for a former assisted living facility in the heart of the West Village.
More than three years later, the developer, FLAnk, has closed on the purchase of the building at Hudson and West 12th streets. FLAnk paid just a few million dollars short the full pre-crash price: $33.3 million.
The deal is the latest sign that the city’s residential development engine is beginning to crank up again, opines the Wall Street Journal.
SITE OFFERS EXPANDED PROPERTY SEARCHES FOR BUYERS
Pulling data from the Real Estate Board of New York’s RealPlus database–which collects listings information from brokerages– Continue reading