37 East 12 street will feature just 6 residences with 2 currently on the market. Prices start at $9.35mm for about 3000 sqft and the other apartment is a townhouse with a private entrance spanning 3 floors for $17.75mm. There are a several other developments that are coming to the market with similar product aiming for the luxury buyer in a area where there is strong interest for large residences but little available.
This area of the Village just south of Union Square and around the University Place area is not part of the historic district so as a result, taller buildings are allowed as of right. The former Bowlmor lanes on University Place is slated to be converted to a over 20 story building. Many neighbors are calling for rezoning to stop what they feel is out of context developement in the area.