Despite all the hype, it appears that “starchitected” condos aren’t actually selling that well in New York (according to the Wall Street Journal). Curbed offers a fine rundown for the subscriptionaly challenged.
The relevance to San Francisco you ask? Well, Damion Matthews (of “What’s Really Going On?” fame) points out the following precious quotes in the Journal:

The slowdown appears to have prompted some developers to exaggerate their sales figures. Marketers for Mr. Meier’s 165 Charles Street, along Manhattan’s Hudson River waterfront, had widely distributed information to potential buyers and the media stating that 24 of the building’s 31 units had sold. But a look at deeds filed with the city showed a much lower number.”
“Developers try hard to create buzz for a project,” says Las Vegas developer Laurence Hallier. “Telling buyers or the media that a project is nearly sold out or is going fast is all part of the game.

Inconceivable! (And yes, we’re still working on Part II of “What’s Really Going On?”) Another noteworthy quote: “…these developers often ignored the first rule of real estate — location — and built in marginal neighborhoods far from other luxury homes and upscale stores.” Not that we’re pointing any fingers. Yet.
Condos With a Name: ‘Available’ [WSJ – $]
Twilight of the Starchitected Condo [Curbed]
Reader Question: What’s Really Going On? (Part I) [SocketSite]

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