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A 'Mini-Meier' Planned
A small condominium building will soon go up at 163 Charles Street, behind the new Richard Meier tower in the West Village. Call it mini-Meier.
The developer Barry Leistner bought the site, a 22-foot-wide, three-story brick building behind the newest of the three Meier towers on West Street, in December for $5.9 million. The previous owner had hired the architect Zaha Hadid to create a condo tower for the site, but then scrapped his plans and sold the property.
Now, the architect Daniel Goldner has designed an eight-story brick-and-glass building that will include an upper triplex, two 2,100-square-foot duplexes and ground floor commercial space. Mr. Leistner plans to live in the triplex and will sell the duplexes for about $2,000 a square foot.
Like the Meier building next door, Mr. Leistner promises high ceilings, floor-to-ceiling windows, radiant heat and basement wine cellars.
"It's a high-end neighborhood and it needs a high-end product," he said. "They've transformed the neighborhood and that's what happens."
Question: How do you know when there is a real-estate bubble? What do you measure, what factors are involved and how do you calculate it?
-- Zack, Laguna Beach, Calif.