Condos in 9,000-Sq.-Ft. Infill Development Start Selling
- Apr 29, 2008
By Anuradha Kher, Online News EditorWilmington, N.C.–New York Hatters, Plantation Building Corp’s eighth and most recent project in Wilmington, N.C. is now complete. The three-story condominium project, located at 105 Grace St. in downtown Wilmington, features nine residential units and 1,600 sq. ft. of commercial space.The property is an infill development that used to be a dry cleaning and hat shop in the 1920s. The founder of that business immigrated to the U.S. and first landed in New York so he named the building New York Dry Cleaners and Hatters, from which the new development gets its name. The old building was torn down in the 1980s and the land was vacant until Plantation Building bought it.“There is an interesting history to this building,” David Spetrino, president and CEO of Plantation, tells MHN. “The new development is a traditional brick-and-stone structure that blends in with the buildings in the area that were built in the 1920s.”New York Hatters features one-bedroom units and studios ranging in price from $170,000 to $250,000. The one-bedroom units are 700 sq. ft. and the studios are 400 sq. ft.“We have always counted on the retirees in this area, but the demographics have been changing. There are a lot of new companies setting up offices and plants, and younger people are beginning to move into this area. There are also two big universities in the area and a large TV studio. Movies are also always being filmed here,” adds Spetrino.