About Manhattan's Greenwich Village

In a unanimous vote taken last Thursday, Community Board 2 soundly rejected the expansion plans NYU had proposed for its Greenwich Village campus.

The university had little hope for acquiring the CB’s approval; community opposition to the NYU expansion plans has been both loud and plentiful. Community groups gathered before the meeting to protest NYU’s actions alongside students and teachers who disagree with the university’s position.

Among the concerns voiced over the NYU expansion plan is the scope of the project; projected construction time for the “superblocks” bordered by Mercer Street, LaGuardia Place, West 3^rd Street and West Houston Street is 20 years. Local preservationist groups have also raised concern over the relative ease with which the university was allowed to get city zoning requirements waived.

Still others felt that the plan would overcrowd a neighborhood already filled with college students.

The expansion of the Greenwich Village campus is part of NYU: 2031, a massive and ambitious expansion project for the university that includes projects in Midtown East as well as Downtown Brooklyn.

The CB vote, while encouraging for NYU’s opponents, is only advisory in nature. The university is currently in the middle of a Uniform Land Use Review process that culminates with a yea-or-nay vote from Manhattan Borough President Scott Stringer.

NYU’s controversial expansion plans have been debated for the better part of a year now. The aggressive proposal calls for two blocks south of the current NYU campus in Greenwich Village to be converted into “superblocks” consisting of large new faculty buildings, student housing, and a new elementary school that may or may not have funding. The university expects to finish the project in 2031.

Reaction among Village residents to the NYU expansion plans has been loud and mostly hostile. Community board meetings on the subject have been filled with dissenting voices, and various demonstrations have been held in protest of the plan. One more is going to be held this Thursday at St. Anthony of Padua Church on Sullivan and Houston Streets to coincide with Community Board 2’s vote on the NYU expansion plans, also occurring at St. Anthony’s. The protest, which is being sponsored by the Greenwich Village Society for Historic Preservation, is also being supported by NYU students and faculty who opposed the plan as well as local block associations and unions.

The NYU expansion plans have already been opposed by CB2’s Land Use Committee, and it appears likely that the Community Board will vote against the proposal. However, construction and redevelopment can continue if NYU gets the support of the City Planning Committee (which is currently conducting an Environmental Impact Study on the proposal) and Borough President Scott Stringer.

Greenwich Village One Bedroom Condo for Sale Market Report

Greenwich Village in New York City has and continues to be one of the most in demand neighborhoods. A rich cultural history, aesthetically pleasing tree lined streets, near to multiple universities, in the heart of downtown Manhattan, restaurants, shopping and entertainment all within a close distance. It’s also a neighborhood that is made up of predominantly cooperative apartments when it comes to Real Estate. For those looking for a condominium apartment, there really are not that many choices.

Condominiums for sale in Greenwich Village is one of those searches that are going to lead you to the same group of buildings and an even more focused search if you are looking for a new construction condominium in Greenwich Village or a Pre-war condo for sale in Greenwich Village. Those searches are even more focused to just a handful of buildings.

The One Bedroom Condo for sale in Greenwich Village is one of the most sought after types of searches that we continually receive from buyers. The location near NYU, Parsons, Stern Business School, SVA, make the neighborhood prime for the entry level 1 bedroom condo for sale market. New construction condominiums are very difficult to build within the neighborhood due to neighborhood building restrictions and limited development sites, so the condominium market is limited.

With this limit comes with it a tight supply, the built in high demand and the result is pricing for a One Bedroom Condo for sale is going to start in the $900,000 range and quickly go up from there.

Pricing and Inventory for One (1) Bedroom Condominiums for Sale in Greenwich Village :

As of the end of January 2012, I only see Eight (8) One Bedroom Condos for Sale in Greenwich Village. That is a tiny amount of inventory, when considering the market as a whole.

The pricing ranges on the low end of $1,150,000 up to $2,200,000. The range in pricing is reflected in the building the apartment is located in, the size of the apartment, views and the condition. I see condition playing a huge role in pricing right now. Move in condition or recently renovated apartments sell at a premium and sell quickly.
To give you an idea of the One (1) Bedroom Condominiums for Sale in Greenwich Village Market, in 2011 I see that approximately 25 apartments sold. The average price was a little more than $1,100,000 and the average price per square foot was about $1,300 sq/ft.
These numbers reflect a variety of types of apartment, so depending on your own individual search, pricing will vary.

If you are looking to buy for yourself, a family member or as investment a One (1) Bedroom Condominiums in Greenwich Village NYC and would like help with your search contact us today at (917) 837-8869 or email at Morgan.Evans(a)Elliman.com

Read other useful blog posts about Greenwich Village below.

Greenwich Village New York Condos near NYU (New York University)

Greenwich Village Prewar Condos

Gem-Greenwich Village Townhouses

By Kevin Korber of Village Confidential

The new luxury development at the former St. Vincent’s Hospital is inching closer and closer to a reality. DNAInfo reports that City Planning has approved Rudin Management’s plans to convert the old hospital into luxury apartments and commercial space.

The decision to approve the rezoning of St. Vincent’s Hospital was unanimous, and the City Planning Commission did not ask for any changes in Rudin’s original plans. City Planning Commissioner Amanda Burden said in the decision that the current plan “successfully integrates new and historic buildings into a site plan that respects the existing built context of the neighborhood.”

The decision outrage Village residents, many of whom have expressed vehement opposition to the new development. Andrew Berman, president of the Greenwich Village Society for Historic Preservation, told the press that it was “disappointing that they gave privileges intended for a hospital to luxury condos. It’s just wrong.”

The proposal has already received approval from Borough President Scott Stringer’s office despite being rejected by Community Board 2. A City Council vote is required before any construction can proceed on the buildings.

The vote did not affect plans to convert the O’Toole building into an emergency care center. Proposals to convert the St. Vincent’s triangle into an AIDS memorial were also undiscussed.