The ghost-town building with the “55 W on it” downtown looks like it will finally see some life. Zom Residential Services announced this week that it will be leasing the condo units as apartments instead of selling them in a dried up market as condos. SNS, the bank that recently foreclosed on the building says that it will “temporarily” lease about 60-70% of the units until the market picks back up and analysis is done(on converting them back to condos).
Retail and restaurant space will be available on the ground floor and there is some talk there there will be office space on the higher floors, but this is not confirmed.
The key “selling point” seems to be the rental prices which were stated to start under at $1,000 per unit. There are studio’s, 1, 2, and 3 bedroom units that will be available.
