The William Beaver House in Manhattan's Financial District, so named for its locations at the intersection of WIlliam and Beaver streets, was designed by Tsao & McKown Architects. The new construction rental building which was started by the Manocherian family in 2004 was sold to SDS Investments in October 2005 for $90 million bucks. SDS investments realizing how hot Andre Balaz was, invited Balazs to co-develop and brand WIlliam Beaver House. The 47 story high-rise offers 319 units, including airy two-bedroom layouts, ten duplexes with private terraces, 48 custom furnished units and three penthouses. WIlly Beav units feature nine-and-a-half-foot ceilings, eight foot windows, Burmese teak floors, hotel-like amenities plus in unit washer/ dryers and this is in Manhattan, don't forget.
The building was being marketed by the Sunshine Group but as of late the sex bomb is now in the hands of Prodigy International. Formerly the co-broker firm with CORE Group, Prodigy brings in the more Miami and foreign-based niche luxury buyer. Good news for William Beaver's luxury hotel-home vibe which is only about 67% sold. Of some 169 units sold only 80 have closed thus far and Prodigy ballparks that 10% to 15% of buyers will walk away from closing sans deposits.
The gold-flecked building Balazs dreamt up at 15 William Street, looks more like it is still under construction thanks to the yellow splotches of brick dripping down the building. Prodigy remains hopeful and Prodigy President claims to have big deals in the works. So he says he is in the midst of completing a sale for $40 million in units with a group of Italian buyers and a Colombian buyer is buying up another group of units. Many investors are renting out their units and, or turning them back over to Prodigy to rent out but who knows what to believe these days.
Real estate companies in FiDi show some 30 rental units currently available in William Beaver, priced from about $2,900 up to $7,000 per month. As for the still unsold units, those are not for rent which seems like it would mean less money in the bank for Prodigy, Andre Balazs & Co. Apparently, William Beaver can afford to take its sweet old time. The luxury rental property is pretty sensational and absolutely worth a walk-around; if you're into Andre Balaz as much as we are then check out his newly opened space in Los Angeles too! “Balazs is one of the city's great authorities on sophisticated living”
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