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Roosevelt Island’s priciest condo ever is a $2M Unit With A Nice View Of Midtown Manhattan

With a nice view of the midtown Manhattan skyline, the unit at 415 Main Street is the most expensive property ever on the iconic island.

By Team Agorafy September 7, 2017
All Images Credit: Corcoran

After decades of transformation, Roosevelt Island is ready to welcome a new era. And this also includes, residential real estate. The Corcoran Group has listed a three-bedroom condo for $2 million. This is by far the most expensive listing yet.

Once known as the home to a smallpox hospital, a former penitentiary and the defunct New York City Lunatic Asylum, the Island is welcoming new residential developments as well as some hipsters companies. As Cornell Tech officially moves into its new location on Roosevelt Island, today, was announced the partnership between Microsoft and Cornell Tech.

Related:  $55B worth of Houston commercial real estate has been impacted by Hurricane Harvey

The property at 415 Main St. (1,433-square-foot) is a three-bedroom apartment that comes with a nice view of the midtown Manhattan skyline. As reported by Bloomberg, and according to listing broker, Ben Garama of Corcoran Group, the deal was completed Thursday. The unit was sold for $1.87 million, which is considerable higher then the previous record of  $1.75 million on Roosevelt Island from for an identically sized apartment in the same building.

Let’s not forget that a similar deal (three-bedroom apartment in Manhattan) can go for a selling median price of $3.15 million. But on Roosevelt Island, the median price is $786,306. Even though there is a difference in price and location, the Island is becoming a great hub for house buyers.

The inflection point for the Island began with the opening of four Mitchell-Lama apartment complexes with 2,000 price-regulated units. Then other iconic ones such as the WIRE buildings, Westview, Island House, Rivercross and Eastview were completed in the seventies. During that decade, the tram began serving as residents’ only direct link to Manhattan.

Now, the Island is welcoming other projects. For example the 460 Main Street. According to the Real Deal, “the latest Riverwalk rental building is expected to rise 21 stories and include 341 units. The project is part of what will eventually be a nine-building complex, which will add roughly 2,000 new residential units on Roosevelt Island.”

We are sure this won’t be the first or the last record transaction for Island…

 

Team Agorafy

ABOUT THE AUTHOR Team Agorafy

ABOUT THE AUTHOR Team Agorafy

Our mission is to be the most accurate resource for commercial listings, residential listings, and property information, allowing users to make highly-informed decisions based on current market data.

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