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22/07/2008 15:54:00

Blesso Properties Sells-Out Harlem Lofts and West Village Townhouses at Record Prices

Blesso Properties (BP), founded by President Matthew Blesso, has once

again achieved surprising sell-outs in todays

softening real estate market, celebrating record-breaking sales of

high-end properties in the competitive New York City arena. In addition

to the complete sell-out of its Harlem renovation Loft

124 in June, where units sold for over $1

million, BP also recently sold two West Village townhouses for

per-square-foot prices, placing them in the top five highest ever for

the downtown market. The company has revitalized the weak Harlem market

and leapt to the top of the West Village townhouse market by

implementing a successful formula that combines smart renovations,

distinctive design and ultra modern finishes while capitalizing on each

projects neighborhood context.

When BP entered the Harlem market in 2004 with the idea of bringing

downtown luxury design to an uptown residential development, the firm

anticipated the drawbacks of the location, Convincing

lenders and investors of our ability to sell condos at Manhattan prices

on an undesirable block in Harlem was not easy,

explains Mr. Blesso. By incorporating high-quality design and

distinctive renovations, this project appeals to the discerning buyer

looking for a unique product. The strategy paid off, and Loft 124

exceeded expectations by setting a record for the highest average

sell-out of any condominium north of 111th

Street; one unit even contracted for $125K over the asking price in

December 2007.

The Harlem market was especially soft in early 2008, but unlike other

projects that required price reductions to sell units, BP never lowered

prices for Loft 124. In fact, at the time the eleventh floor penthouse

went into contract at more than $1,000 per square foot, it was the

highest price ever for a sale above 111th

Street. Today, Loft 124 is considered one of the finest residences in


Equally impressive sales of two pre-Civil War West Village townhouses

quickly followed: 42 Jane Street and 9 ½ Jane

Street, which sold for a combined figure of more than $16.7 million. By

designing state-of-the-art kitchens, adding large windows, terraces, sky

lights and incorporating views of the Empire State and Chrysler

buildings, award-winning architects Murphy Burnham & Buttrick created

clean contemporary spaces that are amenable to any decorating style. He

further explains, because these units were in

bad shape, buyers werent interested.

However, because they are single family, they were flying under the

radar of other developers. Blesso recognized

the special opportunity and recently sold both gut-renovated units at a

large profit.

The BP formula emphasizes unconventional thinking, high-quality design,

attention to detail, and a closely-monitored construction process. This

has helped the firm thrive even while the housing market struggles. What

truly sets Blesso Properties apart from the rest is simply the

difference between accepting something good and creating something


For Blesso Properties

Alexandria Richards, 305-572-9883 ext. 304


22 juil.: THOMSON : L´opérateur de télécommunications Telenor, leader en Sc..
22 juil.: SG OPTION EUROPE : Mise à disposition du Rapport financier annuel

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