Starchitecture For Rent: Rent-a-Bargain in Richard Meier’s Prospect Park Palace

 

2257972.3.jpgRichard Meier‘s 1 Grand Army Plaza is 75% sold, a solid enough occupancy rate that it won’t be going rental anytime soon. However, two individual owners are currently leasing out their units; a one-bedroom for $4,750/month and a two-bedroom for $4,500/month. Corcoran broker Jake Cohen tells us the owner of #6C (who bought the unit in 2009 for $1,150,000) is moving to China for two years and won’t consider selling since the purchase hasn’t had time to appreciate and the building is “stunning”: “I couldn’t imagine buying in there and wanting to sell it.” Considering Perry Street rentals clock in northwards of $20,000 per month, a relative starchitecture bargain.
· Listing: 1 Grand Army Plaza #6C [Corcoran]
· Listing: 1 Grand Army Plaza #4D [Elliman]
· Raided residents at 35 Market Street forced to vacate [Downtown Express]