Buyers have negotiated discounts averaging 9.2% on condos in the 33-story glass tower, 172 Madison, in East Midtown, according to initial sales data on 11 closings from Streeteasy.com. All 11 closings listed on real-estate data site The tower has 72 units and sale prices so far are said to have averaged around $2,200 per square foot. Mansion Global suggests there is a growing supply of new condos in Manhattan. “Condo buyers want to be able to get into Manhattan without having to drive an hour or more each way,” says David Blitzer, president of the National Association of Home Builders.
Buyers have negotiated discounts averaging 9.2% on condos in the 33-story glass tower, 172 Madison, in East Midtown, according to initial sales data on 11 closings from Streeteasy.com. The tower has 72 units and sale prices so far are said to have averaged around $2,200 per square foot. Mansion Global suggests there is a growing supply of new condos in Manhattan. “Condo buyers want to be able to get into Manhattan without having to drive an hour or more each way,” says David Blitzer, president of the National Association of Home Builders.