"Specifically, Related is getting ready to start marketing One Central Park in 30 to 45 days," says Wine. In reference to the quality of the units, Wine calls the whole project "the most exciting real estate development that New York has seen in decades with AOL there, the Jazz at Lincoln Center and the whole retail section."
GlobeSt.com reported on the groundbreaking of this landmark development back in November and has been following it since. In that spirit, just last month, on Jan. 30, GlobeSt.com confirmed the 14,300 sf lease that Hugo Boss signed for prime retail space in the building.
"As for the residential component, it will house units that range in size from 973 sf for a one-bedroom to 8700 sf for any entire floor," Wine adds. Related is in the early stages of planning for the coming push, so early that talks with several firms to be the exclusive leasing and marketing agent are still on-going and exact prices have not yet been designated.
Despite the uncertainty, real estate executives are paying close attention and speculating about what figures potential occupants can expect. "It's a great area and they will surely get the prices Trump did for his up-scale condos there, if not more," speculates Marilyn Harra Kaye, president of the Prudential MLB Kaye Realty.
"It's very difficult to come up a price but that whole area is red hot," Kaye continues. "Condos in that neighborhood are going for around $1 million a bedroom, and given the status of this complex, that price will probably be conservative."
At the moment, real estate executives will have to continue to watch and wonder until Related comes out with the exact numbers. GlobeSt.com will keep on top of the story and report on the latest developments as they occur.
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