Ambitious LIC condo development goes rental
It appears that none of the condos sold
March 08, 2015 04:00PM
42-77 Hunter Street in Long Island CIty
Initial reports suggested that units at the Madison in Long Island City, a new condominium development, were selling like hotcakes. But that seems to have not been the case.
Sales launched at the building last summer and four units went into contract almost immediately, according to Curbed. At the time, pricing for the one- and two-bedroom “penthouse” units started at $500,000.
But it turns out condos at the 14-unit building, located at 42-77 Hunter Street, simply weren’t selling. And now it’s going rental, according to Brownstoner.
Modern Spaces recently listed two units on the rental market for $2,750 and $2,773 a month. Streeteasy shows that no condos ever sold. [Curbed | Brownstoner] – Christopher Cameron
