Extell Development Company, announced that, in response to global conditions related to COVID-19, it will offer “price incentives” on new contracts signed at One Manhattan Square.
For a limited time, the remaining inventory at the luxury development will be discounted, some up to 20 percent.
The new incentive is intended to spur sales velocity at the building, which also offers a 20-year tax abatement and low common charges.
“Sales velocity at One Manhattan has been consistently strong; however, given today’s uncertainty, we felt that there was an opportunity to re-engage the market with price discounts on new deals,” said Gary Barnett, Founder and Chairman of Extell Development Company.
“While we have adapted to selling our residences through a virtual sales experience, we recognize that it is also important to incentivize our buyers with this program. Combined with low interest rates and a 20-year tax abatement, we feel this will make for a very compelling offering.”
One Manhattan Square features architecture by Adamson Associates Architects and interiors by Meyer Davis Studio. All of the residences, ranging from one- to three-bedrooms, are positioned to maximize panoramic skyline views. The building also offers 100,000 s/f of indoor and outdoor amenity.
“Many residents have moved in since the building opened last year and are extremely pleased with the product, amenities and lifestyle,” added Barnett. “This price incentive creates a unique opportunity for buyers to invest in a home before the overall market rebounds.”
In an effort to accommodate the changing real estate landscape, The Extell Marketing Team, is hosting virtual sales appointments. The sales team can offer prospective buyers a virtual look inside the building with tours of the residences, views, finishes, floor plans and amenities.
This new pricing discount is for a limited time and only applicable to new contracts executed after May 1, 2020.
As of January, it was reported that 223 of the building’s 815 units had been sold, 39 were in contract, and 553 were still available.