According to streeteasy, a handful of buildings including the building known as 53rd and 8th, are offering “affordable luxury” condos are only a fraction of what some of buildings are asking for luxury condos. This particular building offers 1 bedrooms of just north of 600 sqft as well as 2bedrooms and even some combination units that total over 2000 square feet. The most expensive listing is under $4 million. This is quite a difference from the usual price of luxury condos which typically start north of $5-6 million.
Since the building was a rental conversion the cost savings is passed on to the buyers. About 26 contracts were signed according to Streeteasy.