Location and Neighborhood
The East Village is known for its eclectic charm, rich cultural history, and vibrant community. Situated in one of Manhattan’s most dynamic neighborhoods, 650 East 6th Street benefits from proximity to a wide range of amenities and attractions.
Tree-lined streets and historical buildings characterize the East Village, perfectly balancing urban living and a relaxed residential atmosphere. The neighborhood is home to Tompkins Square Park, a cherished green space that serves as a hub for community activities. Residents also enjoy easy access to various local restaurants, cafes, and boutique shops that reflect the area’s diverse culture and history.
The location’s appeal extends beyond its immediate surroundings. Its central position in Manhattan provides convenient access to public transportation, making it an excellent choice for professionals working in other parts of the city. The East Village’s unique combination of history, culture, and modern conveniences makes it an ideal setting for luxury residential properties like 650 East 6th Street.
Neighborhood Highlights
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Proximity to Tompkins Square Park and other green spaces.
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Vibrant dining and shopping options.
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Convenient access to public transportation and major city hubs.
Building Overview and Design
General Specifications
650 East 6th Street features six floors and five exclusive residential units, ensuring privacy and exclusivity for its residents. Designed by Combined Architecture and completed in 2023, the building reflects meticulous attention to detail in its exterior and interior design.
Architectural Highlights
The building’s reclaimed brick facade and floor-to-ceiling casement windows pay homage to pre-war architectural styles while incorporating contemporary elements. Steel balconies enhance the building’s visual appeal and offer outdoor spaces reminiscent of classic New York fire escapes. This seamless integration of historical and modern aesthetics makes 650 East 6th Street a standout property in the neighborhood.
Interior Design Features
Inside, the residences are designed with luxury and functionality in mind. White oak hardwood flooring adds warmth to the living spaces, while custom cove lighting enhances the ambiance. The kitchens have high-end Italian cabinetry and Miele appliances, offering both style and practicality. Bathrooms feature radiant heated floors and Grohe fixtures, ensuring comfort and quality.
Modern and Pre-War Blend
Combining modern amenities with design elements inspired by pre-war architecture, 650 East 6th Street successfully bridges the gap between tradition and innovation. This thoughtful approach appeals to buyers seeking a timeless and contemporary property.
Amenities and Features
650 East 6th Street offers a range of amenities designed to enhance the living experience of its residents. Each feature is carefully curated to provide comfort, convenience, and luxury.
Key Amenities
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Elevator: Provides direct and secure access to each unit.
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Private Outdoor Spaces: Balconies, terraces, or gardens are included with every residence.
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Intercom System: Ensures seamless communication and security.
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Central Air: Guarantees year-round comfort.
Residential Comfort
The building’s interiors are equipped with radiant heated floors, a premium feature that adds to the overall comfort of each home. High-end fixtures and finishes further contribute to the luxurious atmosphere.
Outdoor Spaces
Private outdoor spaces are a defining feature of 650 East 6th Street. Whether it’s a balcony overlooking the tree-lined streets or a terrace for entertaining guests, these areas offer a valuable extension of the living space.
Pet and Storage Facilities
The building is pet-friendly, accommodating the needs of modern urban dwellers. Additional storage facilities are available, providing practical solutions for residents.
Sales and Market Performance
Sales Timeline and Performance
Sales for 650 East 6th Street began in October 2022, with closings starting a year later in September 2023. Currently, 40% of the units have been sold, translating to two out of five residences. The building’s absorption rate is estimated at 39.6 months, indicating a moderate sales pace.
Percentage Sold and Absorption Rate
With two of the four two-bedroom units sold, the building has achieved 50% sales in this category. The three-bedroom unit remains unsold, reflecting market preferences and pricing dynamics.
Impact of Price Changes
Price adjustments have played a role in shaping market perception. Notable price drops include a 5.01% reduction for Unit 3 and reductions of 9.85% and 7.85% for the townhouse unit. These changes highlight the building’s responsiveness to market conditions.
Sales Velocity
The building’s sales velocity averages 0.1 monthly units over the past year. While this figure suggests a slow pace, the units' exclusivity and high price point may account for the measured progress.
Unit Layouts and Pricing
Unit Types
650 East 6th Street offers a mix of two-bedroom and three-bedroom units. Each residence occupies an entire floor, ensuring privacy and exclusivity for its occupants.
Private Keyed Elevator Access
A private keyed elevator provides direct access to each unit, enhancing security and convenience. This feature is particularly appealing to buyers seeking a high level of privacy.
Price Ranges and Notable Sales
Units are priced between $1.9 million and $2.7 million. Recent sales include the penthouse unit, which closed at $2.44 million, and Unit 5, which sold for $2.21 million. These transactions reflect the premium value of the building’s residences.
Value Proposition
The combination of luxury design, prime location, and exclusive amenities positions 650 East 6th Street as a strong contender in Manhattan’s luxury condominium market. Its value lies in its ability to offer modern conveniences in a boutique setting.
Target Market and Buyer Demographics
Profile of Typical Buyers
The building’s target market includes professionals, families, and investors. These buyers are drawn to the property’s exclusivity, high-end design, and prime location.
Appeal Factors
Key factors that attract buyers include the building’s blend of modern and pre-war aesthetics, its proximity to cultural and recreational amenities, and the privacy offered by full-floor units.
Comparison with Similar Developments
Compared to other luxury developments in the East Village, 650 East 6th Street stands out for its boutique scale and thoughtful design. Its exclusivity and convenience makes it a unique offering in the market.
Real Estate Market Trends in East Village
Overview of Trends
A mix of pre-war buildings and new constructions characterizes the East Village real estate market. Demand for boutique condominiums like 650 East 6th Street is growing, driven by buyers seeking a balance between historical charm and modern amenities.
New Construction vs. Pre-War Buildings
While pre-war buildings offer character and history, new constructions appeal to buyers seeking updated features and energy-efficient designs. 650 East 6th Street successfully blends these qualities, catering to various preferences.
Long-Term Investment Potential
The property’s location and design ensure its long-term appeal as both a residence and an investment. As demand for high-quality, well-located properties grows, 650 East 6th Street is well-positioned to maintain its value.
Management and Maintenance
The management of 650 East 6th Street is overseen by Rachel Williams, who maintains the building’s high standards. From routine maintenance to the upkeep of common areas, the management team plays a crucial role in preserving the property’s appeal.
Conclusion
650 East 6th Street represents a unique blend of luxury, privacy, and modern design in the heart of Manhattan’s East Village. Its thoughtful architecture, high-end amenities, and prime location make it a standout property in the competitive real estate market. For those seeking an exclusive residence in one of New York City’s most vibrant neighborhoods, 650 East 6th Street offers an exceptional opportunity.
FAQs
What is the price range for units at 650 East 6th Street?
Units at 650 East 6th Street are priced between $1.9 million and $2.7 million, depending on size and layout.
How many units are available in the building?
The building comprises five exclusive residential units, each occupying an entire floor to ensure privacy and exclusivity.
What amenities does 650 East 6th Street offer?
Amenities include an elevator, private outdoor spaces (such as balconies or terraces), intercom system, central air conditioning, radiant heated floors, and high-end fixtures.
Is 650 East 6th Street pet-friendly?
Yes, the building is pet-friendly, accommodating residents with pets.
What is the neighborhood like around 650 East 6th Street?
Located in Manhattan's East Village, the area is known for its vibrant culture, tree-lined streets, and proximity to amenities like Tompkins Square Park, restaurants, and boutique shops.
