The Two Faces of the Lower East Side
What’s the premium for one of those fancy new buildings on the Lower East Side? A comparison with a space at the serviceable but unglamorous 550 Grand Street is an eye-opener. The new apartment is at 105 Norfolk Street—a.k.a. Blue, the big glass condo building by starchitect Bernard Tschumi—whereas the older place is in a relatively utilitarian postwar tower (and it’s over by the East River, far from Ludlow Street’s nightlife, and the F train). Even if you knew you’d pay extra to live at Blue, these more or less identical apartments reveal just how much: The new place is substantially more than double the price.
550 Grand Street, Apartment H1D
The Facts: One-bedroom, one-bath, 750-square-foot co-op.
Asking Price: $450,000.
Maintenance: $503 per month.
Agents: Susanne Columbia and Todd Vitolo, Corcoran.
105 Norfolk Street, Apartment 10A
The Facts: One-bedroom, one-bath, 785-square-foot condo.
Asking Price: $995,000.
Maintenance: $717 per month.
Agent: Barrie Mandel, Corcoran.