241 Fifth, NoMad's Newest Neighbor, Sells Out in Just Twelve Months

Record-breaking sales command up to $2,600 per square foot in coveted new neighborhood

PR Newswire

NEW YORK, April 30, 2014 /PRNewswire/ -- Following the sale of the 20th floor penthouse, Victor Homes and CORE announce the completion of sales at 241 Fifth. The building includes 46 condo units designed by Eran Chen of ODA-Architecture and built by Triton Construction Company. Located in the newly branded NoMad district on Fifth Avenue, between 27th and 28th Streets, 241 Fifth was one of the first among a growing number of new developments in the neighborhood.

"Since Victor Homes broke ground at 241 Fifth, the NoMad district has evolved into a coveted  residential neighborhood in a once-ignored area of Manhattan," said Shaun Osher, CEO of CORE, exclusive sales and marketing firm for 241 Fifth. "Closing sales in exactly one year is a testament of demand for this untapped neighborhood combined with beautiful, modern design."

Sales for 241 Fifth launched in April 2013, and led to about 50% of the units in contract within the first two months. At the six month mark nearly 90% of all units were in contract, with closings beginning in September 2013. Prices ranged from $820,000 for a one bedroom – $10,000,000 asking price for the 20th floor penthouse, commanding up to $2,600 per square foot. Along with a mix of one, two and three-bedroom condominium units, buyers purchased penthouses on the 15th and 20th floors.

"In addition to a building average of $2,000 per square foot, this is perhaps the first project in the current new development cycle to be truly sold out within one year with all units fully closed in downtown New York City," notes Doron Zwickel, Director of Sales, 241 Fifth.

Design features like solid white oak flooring throughout are complemented with spa-like bathrooms incorporating soaking tubs, glass-enclosed showers and teak wall detailing in the bathroom. Oversize windows, Zucchetti-Kos Faraway Collection fixtures and Miele appliances add to the high-end residences. The lobby boasts brushed white oak walls and polished concrete flooring. Amenities include a 24/7 concierge, rooftop terrace, state-of-the art fitness center, a yoga or meditation room, private treatment room offering space for a massage or beauty treatments and a lounge. Building views include the Flatiron Building and lower Manhattan.   

With a number of new residential developments, hotels and restaurants in the works, NoMad has become a sought after area of town. The interiors of 241 Fifth were influenced by Danish Modern design and evoke aspirational living in a newly re-developed neighborhood. Following the sales launch in April 2013, the waitlist for the building grew to over 500 interested buyers. 

About Victor Homes

Founded in 1994, Victor Homes has become one of New York's most dynamic development and construction companies. Its various projects in the area range from multi-unit residential communities, to sprawling corporate office campuses, to exclusive residential estates, all superbly designed with the signature of quality workmanship and undeniable value. The company's management team combines decades of international construction experience, and it carefully oversees every aspect of the development process from land acquisition all the way through design, marketing, construction and commitment to quality and value.           

About CORE

CORE is a real estate sales and marketing firm delivering the best in brokerage, communications and advisory services for the luxury residential segment. In addition, CORE's elite group of highly experienced and successful professionals service developers who value efficient, no-nonsense results. CORE was founded by Shaun Osher as a full-service boutique firm with a strict adherence to the principles of integrity, efficiency and results. For more information visit: www.corenyc.com.

Press Contact:
Erin Ryder  
(212) 612-9629  
eryder@corenyc.com

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