GF55 Partners

GF55 Partners

LEED Silver-Hopeful Kalahari Cuts Prices on Last 12 Units

Sat

Oct

Back in October of 2007, only 19 units remained available at Full Spectrum's LEED Silver-hopeful Kalahari condominium development at 40 West 116th Street between Lenox and Fifth Avenues in Harlem. Only 7 units have moved since, and earlier this week prices were cut on the remaining 12. The asking price on a 1386-square-foot 3-bedroom, 2-bath unit is down 6 percent to $815,000, and a 1732-square-foot 4-bedroom, 3-bath apartment has been cut by 19.5 percent to $1.14 million. It's anecdotal, of course, and certainly a function of market realities here in 2009, but the price cuts are interesting to note in light of the constant barrage of positive studies and other reports extolling the inherent premium value of LEED-certified buildings and other green properties. (Note, however, that the Kalahari has yet to be formally certified by USGBC).

Webb Apartments: Affordable LEED for Homes in Jersey City

Tue

Feb

by Stephen Del Percio

7 comments

We've been following both green affordable housing and LEED for Homes pretty closely here in New York City recently so we're glad to see the two intersecting at tomorrow's ribbon-cutting ceremony for the Webb Apartments in Jersey City, New Jersey. The five-story, 59,000-square-foot project was developed by Jersey City-based Genesis Companies and is located 450 Martin Luther King Drive, just a few blocks north of a New Jersey Transit light rail station with service up to the Hoboken terminal. Designed by New York City-based GF55 Partners (executive architects of the LEED Silver hopeful Kalahari condos in Harlem), the Webb Apartments will feature 40 rental units and 9000 square feet of retail space. Green design elements include Energy Star appliances, low-VOC paints and sealants, and various recycled-content structural materials. According to Genesis, the project will be the first affordable housing development in New Jersey to earn a LEED for Homes rating, once formally conferred by USGBC. Rents will run between $523 and $714 per month for one- to three-bedroom apartments; market rents for a three-bedroom in Jersey City are currently around $1250, according to Genesis.