We were moseying up 22nd St. the other day and noticed some progress on two new houses at the Mode7 development that we reported on a few months ago. According to the realtor, the first two houses are sold and occupied (the first sold for almost $1.5M last year), and the remaining two houses on 22nd St., listed at $1.675M and $1.7M, are under contract. Steel support beams have been installed for these, and one has some framing up as well.
It must be a nice feeling for the developers to have their first four units either sold or under contract in this upscale development. From what we hear, work will be starting on the last three Mode7 houses in three to six months. These houses will be located immediately behind the houses on 22nd St., and will front to itty Croskey St. Once built, they will strongly resemble the other houses.
It doesn’t seem like there’s much ultra-high end row house construction going on at the moment, and it’s encouraging to see BHD and Masada taking the plunge. What’s even more exciting is that these houses are selling before they can even be built, indicating an appetite in the market for this sort of product. It helps, of course, that these houses appear to be extremely well-done. Remember this?