Market strong for quality residential product. (New York, New York housing market shows strength in apartment sales; includes evaluation of The Alexandria apartment house sales in New York, New York) (Mid-Year Review & Forecast, Section IV) (Column)

From: Real Estate Weekly | Date: June 23, 1993| Author: Malkin, Anthony E.; Zekendorf, William Lie | Copyright information

Who said the housing market is in a slump?

Despite the recession, The Alexandria has sold 11 apartments since September, for an aggregate price of more than $4.13 million. As a result, The Alexandria is now 63 percent sold.

This sales pace is even better than we projected a year ago, given the slow rate at which the apartment market was recovering then. It distinguishes our building from other new Manhattan condominiums, many of whose owners have had to resort...

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