PR83883

NEW YORK, May 1, 2020 /PRNewswire=KYODO JBN/ --

-- Lower East Side Residential Development Adapts to Market

Extell Development Company (https://c212.net/c/link/?t=0&l=en&o=2791599-1&h=2421446725&u=https%3A%2F%2Fextell.com%2F&a=Extell+Development+Company%2C

), a full-service real estate developer of residential, commercial and

hospitality properties, announced today that in response to global conditions

related to COVID-19, Extell will be offering price incentives on new contracts

signed at One Manhattan Square (https://onemanhattansquare.com/ ）. For a limited time, the remaining inventory at the luxury development will

be discounted, some up to 20 percent. This new incentive is intended to spur

sales velocity at the building, which also offers a 20-year tax abatement and

low common charges.

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"Sales velocity at One Manhattan Square has been consistently strong; however,

given today's uncertainty, we felt that there was an opportunity to re-engage

the market with price discounts on new deals," said Gary Barnett, Founder and

Chairman of Extell Development Company. "While we have adapted to selling our

residences through a virtual sales experience, we recognize that it is also

important to incentivize our buyers with this program. Combined with low

interest rates and a 20-year tax abatement, we feel this will make for a very

compelling offering."

Pioneering a new era of luxury on the Lower East Side, One Manhattan Square

features architecture by Adamson Associates Architects, complemented by custom

interiors by Meyer Davis Studio. All of the residences, ranging from one- to

three-bedrooms, are positioned to maximize panoramic skyline views. The

building also offers 100,000 square feet of every conceivable indoor and

outdoor amenity, as well as breathtaking 360-degree views of New York City.

"Many residents have moved in since the building opened last year and are

extremely pleased with the product, amenities and lifestyle," added Barnett.

"This price incentive creates a unique opportunity for buyers to invest in a

home before the overall market rebounds."

In an effort to accommodate the changing real estate landscape, The Extell

Marketing Team, the exclusive sales and marketing firm for One Manhattan

Square, is fully equipped and available to accommodate virtual sales

appointments. The sales team can offer prospective buyers a virtual look inside

the building with tours of the residences, views, finishes, floor plans and

amenities. This new pricing discount is for a limited time and only applicable

to new contracts executed after May 1, 2020.

For more information or to set up an appointment, please email a sales

representative at info@onemanhattansquare.com or call +1.212.252.1560.

SOURCE: Extell Development Company

CONTACT: M18 Public Relations, Anna LaPorte – +1-212-604-0318 x113;

anna@m18pr.com