These are the three hot deals I have found right now in Manhattan. There is nothing right now that is a complete walk-away deal where you are getting 30% below market. Those days are behind us now. These are properties that are about 10% below other comparable properties and show a general upside in both the long and short future.

350 West 42^nd Street (the Orion) #54B can be bought for $1,550,000

The Orion has always been a strong product since its inception in 2004. While the building exhibited a slight downturn in 2008-2009, sales are back up and steadily climbing. Properties on the fiftieth floor and above seem to be the most successful. The build is averaging prices of $1,220 a square foot since January and top floor units are seeing numbers in the $1,300 – $1,400 per square foot.

Unit 54B can be bought for $1,550,000. The B line is a great layout with stunning southern views. While it is the second largest two bedroom line behind the G line, the layouts make them seem very comparable in size. Recently a high floor G line went into contract for above 1.7 million dollars. At $1,550,000, 54B is not a steal, but if you are looking for this product, it is the best deal on the market and worth more than this price tag.

Because it is not available to the open market, there are no photos or floor plans available. Look at this Streeteasy.com link of the same unit on the 57th floor for reference. I can send you a floor plan if you are interested.

http://streeteasy.com/nyc/sale/587932-condo-350-w-42nd-st-clinton-new-york

Brian Meier & Dylan Hoffman

Senior Vice Presidents
Prudential Douglas Elliman

26 West 17th Street
7th Floor

New York, NY 10011
(212) 321-7113 office