124 West 16th Street Sells Out Amidst Pandemic

Developer Grid Group, along with exclusive sales and marketing agent, Corcoran New Development, has announced announce that the final 9th floor residence at 124 West 16th Street is officially in contract. Nicole Hechter of The Corcoran Group, along with Masayo Hashimoto, led sales at this highly-successful loft-inspired building with a distinctive bluestone façade.

This milestone makes 124 West 16th Street the only Manhattan condominium to launch during 2020 and sell out within a year. The achievement is even more notable because after launching in February, activity was curtailed from mid-March to June due to the New York State stay-at-home orders.

The average sales price of the boutique building’s 15 units was over $5.8 million and $2,370 per square foot - well above the Manhattan market-wide average. In addition, nearly every apartment received multiple offers.

“Grid Group has their the finger on the pulse of what New Yorkers desire in a home today,” explains Hechter. “124 West 16th Street is a next-level boutique building with custom upgrades and generous floor plans - all with private outdoor space. Plus with the building nearly complete, new owners can move in promptly – and avoid years of waiting. These factors all resonated strongly with buyers. Many walked in and immediately knew it was ‘the one.’”

“The pace of sales at 124 West 16th Street exceeded all expectations,” added John Felicetti, Vice President of New Development at The Corcoran Group. “To sell out during one of the most complicated markets in history is a testament to the talented sales team, calibrated pricing, and the superior quality Grid Group upholds in all of their buildings.”

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