Condos in Battery Park City Half Sold

By Dees Stribling, Contributing Editor

New York—1 Rector Park, a condominium conversion in lower Manhattan’s Battery Park City, has sold more than half of its units, according to the sales agent for the property, Corcoran Sunshine Marketing Group. The building’s 232 residences have been on the market since September 2010.

“Our buyers are diverse,” Paula Burchill, Corcoran Sunshine’s director of sales for 1 Rector Park, tells MHN. “Because we offer such a wide range of price points and floor plans, 1 Rector Park has drawn everyone from young professionals working in the nearby Financial District to families attracted to the neighborhoods’ parks and recreation opportunities, along with empty-nesters looking for a pied-a-terre in the city.”

The “parks and recreation” are landscaped parks and protected open spaces nearby, since Battery Park City is one of the greener areas in Manhattan outside of Central Park. Building amenities include on-site parking, a fitness center, a lounge and a children’s playroom. Most of the units have balconies with Ipe wood decking (a hard tropical wood, noted for its use on the Atlantic City boardwalk).

The property offers a variety of residences ranging from 550-square-foot studios and somewhat larger one-bedroom to three- and four-bedroom residents of up to 2,660 square feet. Some residences include private gardens and parking. The residences are priced from $460,000 to $2.85 million.

Rockrose developed the 15-story building in the mid-80s, later selling the building. Designed by Charles Moore and Rothzeid, Kaiserman, Thomson & Bee, it was originally a rental apartment building called River Rose. The Great Recession put the kibosh on condo conversion plans by a previous developer in the late 2000s, but the most recent developer, 333 Rector Park–River Rose L.L.C., seems to making a go of it in the improved New York residential real estate market.