Many new developments across NYC offer incentives in 2023 to lure buyers and drive deals. Luxury buildings like Brooklyn Point, One Manhattan Square, and Front & York are currently offering attractive stimuli and homebuyers should hurry to take advantage of these incentives while they’re still available.
Brooklyn Point
Due to rising interest rates and in order to help potential buyers bring down their monthly costs, Extell Development Company is offering buyers a rate rewind incentive at Brooklyn Point in Downtown Brooklyn. Now through the end of Q1 2023, the full-service real estate developer of residential, commercial and hospitality properties, will buy down buyers’ mortgage interest rates by 2% annually for the first 3 years of their mortgage. Brooklyn Point is designed by world-renowned architectural firm Kohn Pedersen Fox (KPF) with custom residential and amenity interiors by Katherine Newman Design (KND). The building is home to the highest infinity pool in the Western Hemisphere. Situated 680 feet above the ground – making it higher than the famous Marina Bay Sands Hotel pool in Singapore – the 27-foot-long pool offers nearly 360-degree views of the skyline.
One Manhattan Square
Extell attracts potential homebuyers with a rate rewind incentive at its Lower East Side development, One Manhattan Square, whose amenity package is twice the size of the White House. Just like at Brooklyn Point, through the end of Q1 2023, the developer will buy down buyers’ mortgage interest rates by 2% annually for the first 3 years of their mortgage. One Manhattan Square features architecture by Adamson Associates Architects. The award-winning Meyer Davis Studio, a globally recognized design boutique, has created the interiors for 815 residences. Offering a variety of 1-3 bedroom homes with open layouts, residences feature 5” wide-stained, oak flooring, imported stone and custom finishes.
505 West 43
Located on Manhattan’s blossoming Far West Side, 505 W 43 – the boutique luxury condo with architecture by ODA New York and interiors by Lemay & Escobar – includes a collection of 122 stylish studio to three-bedroom residences complemented by a robust suite of hotel-level amenities. Now through March 31st, the building is offering incentives on two- and three-bedroom residences with two years of common charges paid for buyers.
547 West 47th Street
Designed by the acclaimed Amsterdam-based firm Concrete, 547 West 47th Street is a transformative, move-in-ready luxury condominium located on 11th Avenue between 47th and 48th Streets, just blocks from Hudson Yards and the Hudson River waterfront. One of the best-selling projects for the third quarter of 2022, the building features 219 studio to two-bedroom residences with professionally-designed turnkey home packages available and offers more than 30,000 square feet of massively-scaled, multi-level amenities and lifestyle services known as The West Residents Club to the heart of Manhattan’s West Side. With closings now underway and remaining residences priced from $765,000 and available for immediate occupancy, 547 West 47th Street is offering buyers two years of sponsor-paid common charges now through the end of March.
Front & York
Designed inside and out by world-famous architect Morris Adjmi, Front & York is a transformational development that brings new homes, retail and parking to DUMBO, Brooklyn. The development currently offers an incentive that will pay two years of common charges as well as sponsor-paid transfer taxes for buyers.
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