Two tidbits, first the unit price:
Most of the units will be in the $565,000 to $1.5 million range, but a few of the penthouses will be priced at as much as $7 million.That's an increase from the initially-indicated price ceiling of $5.5 million, unless they were simply holding such $7 million penthouses in reserve.
Mr. [Jeff] Rosen [executive director of the joint venture, Greenland Forest City Partners] declined to put a price tag on the condo. But generally construction loans are equal to 60% to 65% of project value, say real-estate experts. The venture recently received approval from the New York attorney general’s office to start sales and marketing of the condos.If $200 million is 60% of project value, the total cost is about $333 million. If $200 million is 65% of project value, the total cost is about $308 million.