Friday, April 07, 2006

44 Monroe Update As Of 4/07/06

I went to the Ground Breaking Ceremony for 44 Monroe last night; a typcal event with cocktail tables draped in white, shrimp with cocktail sauce, and live music. Although the event was nothing to write about I am VERY happy to see that they're finally breaking ground. I was definitely concerned that it might never happen. General rule for 44 Monroe is that units will start at $465 per foot for a 1400 square foot 2bd/2ba with two parking spaces on the 10th floor. The same floor plan runs all the way to the 32nd floor but the price goes up to $683 per foot at that level. At the high end of the prices you can get a penthouse with almost 4300 square feet on the top floor (34th) for $822 per foot ($3.5M before upgrades). Actually the prices aren't bad overall especially when you consider that owners are trying to get $425 to $1000 per foot for units at Optima Biltmore and SunCor is asking $450ish to about $800 per foot at Hayden Ferry.

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