Adam America Real Estate, The Naveh Shuster Group and The Horizon Group complete $4.343 million sale of 1,630 s/f condominium at 100 Norfolk St.

According to Adam America Real Estate, The Naveh Shuster Group and The Horizon Group, their development at 100 Norfolk St. has sold its highest priced per s/f unit, a 1,630 s/f condominium for $4.345 million ($2,667 per s/f). Over 85% of the residences have now been sold within just five months of launching sales. This unprecedented sale marks a major milestone both for the building and the Lower East Side. Following 100 Norfolk's recent record-breaking penthouse combination sale, the development is continuing to command the highest residential real estate prices that the neighborhood has seen to date. "Setting a new standard of luxury in the area, 100 Norfolk is playing a significant role in the transformation of the Lower East Side as it becomes one of New York City's most sought after neighborhoods," said Omri Sachs, co-founder of Adam America. Dvir Cohen Hoshen, co-founder and partner of Adam America Real Estate, said, "The Lower East Side has not seen sales at this level and pace ever in its history. With no other product like 100 Norfolk on the market, we are confident that sales will continue at this rate." On the building's ninth floor, this spacious corner unit cantilevers above the vibrant streets of the Lower East Side. Its double pane floor-to-ceiling windows encompass the northern, western and southern sides of the building, offering sweeping views of downtown Manhattan. The modern apartment features three bedrooms, three and a half bathrooms and a private 476 s/f terrace overlooking charming, tree-lined Norfolk St. Designed by Eran Chen of ODA Architecture, the ultra-modern tower features a cantilevered glass façade and contains 38 high-end units with a mix of studio, one, two and three-bedroom apartments. Slated for completion in 2016, the 12-story glass and truss building features an expansive roof deck, outdoor garden lounge, a fitness center, a yoga room, a bike room and auxiliary storage. Sales were launched by Douglas Elliman's Ariel Tirosh at the end of September 2014. Ariel Tirosh said, "100 Norfolk's striking architecture and prime location in the heart of the Lower East Side are changing the Downtown residential market. For the first time in history, buyers are willing paying a premium to live in this neighborhood." A number of exciting public development projects are slated to be built in the area neighboring 100 Norfolk. Across the street from the apartment building are plans for Essex Crossing, a mixed-use development project led by the city which will propel the revitalization of the neighborhood. The remarkable development, scheduled for completion in the next seven years, will include 1.9 million s/f of residential, commercial and community space not limited to a public park, incubator space for young tech companies, a bowling alley, a movie theater and a school. The "Lowline," a high-tech subterranean park to be built on old rail tracks inspired by the Highline of Manhattan's West Side, is currently under discussion. Developers have set their sights on the Lower East Side and the historic neighborhood will soon become one of the most desired residential areas in New York City.