Amidst the slowing high-end real estate market in New York, a developer is offering a luxury unit like no other. Extell Development hired an accomplished interior designer to furnish a loft in their One57 condominium tower. The lucky buyer can readily move in anytime, as everything is already taken care of -- from furniture pieces down to bathroom towels.
The Wall Street Journal reported that it took designer Jennifer Post a total of eight months to decorate the three-bedroom, 3,228-square-foot apartment, with a whopping budget of at least $1 million. Extell Development founder Gary Barnett, however, does not mind the price of beauty.
"But that's what it costs to do something really nice," he said. Extell is selling the loaded unit for $20.1 million.
One57 developer Extell is hoping this move-in ready pad will help combat sluggish sales: https://t.co/AiJeYvTHnr pic.twitter.com/cGpxuytCO2
— Curbed NY (@CurbedNY) January 29, 2016
The lavish apartment, located at the 45th floor of the building, was installed with recessed lighting and Venetian plaster. The furniture are all custom-made to match the unit's sleek and modern aesthetics. Appliances such as televisions and refrigerators are already installed and wired, and curtains are in place. The bedrooms come with beddings and linens, and the bathrooms even have soaps and towels.
While these cool amenities are included in the price, the paintings and art pieces are only for staging purposes and are for sale at an additional cost.
According to Barnett, sales of the units in their luxury condo have stalled in the past few months. Sales started late 2011, and four years later, there are still around 20 unsold units. The company is relying on this drastic renovation measure to amp up their sales.
Currently, only one fully-furnished unit in the tower is available for sale, but Barnett said that they are planning to do the same with other apartments within the next few months.
"We think this is really going to spur sales," Burnett concluded.
