Bidding Wars Greet Hello Washington

Update on our morning story: Hello Washington hasn’t been on the market a week, and already contracts have been sent out for two units and some of the others are in bidding wars, according to an email sent out by developer Eli Karp. Contracts have been sent out for No. 302 for $875,000 and No. 301 for $850,000. The penthouse, listed at $1,350,000, has received higher offers and some of the other units are in bidding wars, he said.

“Originally, we projected that we would need to sell five units in order to take-out the bank,” Karp wrote. “At this point, three units will be sufficient.” This is good news for those in the Owners Club, he added, referring to his sponsorship investment offering, explaining “we contemplated then that the sellout might be $675,000 per unit, now at $875,000 tops our wildest imagination.” The per square foot prices rival projects in Park Slope, he said.

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