Sales of Condos in FiDi Showing Signs of Recovery

Based on data available at various government and private data sites, FiDi continues to be a haven for renters while sales are still taking a back seat. However, buying and selling is picking up.

Six apartments were recorded as sold this month already - ranging from $544,763 for a studio to $981,950 for a one bedroom - both at 75 Wall Street. The building enjoys a extended tax abatement which could be a draw.

Interestingly, both the cheapest and the most expensive condo to sell in recent weeks has been at 75 Wall. With an amazing rooftop, kick-as amenities, and access to the Andaz Hotel hotel around the clock, the building seems to be surging ahead than some of the others.

Reliable sources told FiDiDigs today that the owners of 75 Wall are also phasing out the rent-to-own program from the building. This is the only building which offers such a unique program wherein accumulated rent from the first year gets tagged to the purchase price should a tenant decide to purchase a condo. The source was unable to reveal how many rent to own units actually existed at the lux scraper.

This development comes as the Spring market gets into gear but also at a time when other luxury projects that were intended to be condos are quietly being converted into rentals as the sales were lacklustre, such as the William Beaver House.

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