Harlem Development Update-o-Rama: The Dwyer! Loft 124!

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Last time we mentioned The Dwyer, the loft-like rival to Loft 124 at the corner of 123rd Street and St. Nicholas Avenue, our shill alarm went off when we read this dispatch from a tipster: "The Dwyer is supposed to be completed end of October with occupancy following the certificate of occupancy." October? Ha! Although, the photo at right (click to expand) shows some nice progress. Still, here we are in November reading this new email:

Just wanted to give you a tidbit as to the goings on at the Dwyer. I'm a prospective owner and looking forward to moving as soon as the building is complete, which at this pace will be 2019. Anyway, just got off the phone with the developer and since the offering plan said the building would be done by Dec 31 2007 owners will have an opportunity to rescind and get their deposits back. Will be interesting to see how many people do so and how the units fair on the open market in the current environment. The developer is planning to possibly put them back on the market at higher prices. Might actually work out since most were sold way before the W rumor really started making the rounds. Either way looking forward to seeing what happens.

Could this epic delay work to The Dwyer's advantage? Stay tuned!

We've already crashed Loft 124 before, so why go back for a double dip? Well, for one, the units are finished and residents have started moving in. Secondly, and more importantly, the pictures are tasty as hell. The building, on 124th Street between Lenox Avenue and Adam Clayton Powell Blvd, has had some sales success, and you can't look at these pictures and not feel a little real estate envy. The photos are actually from a few different units, but you get the idea.

· Harlem Heat Two-Fer: Ellington, Loft 124 [Curbed]
· Harlem Nightmare: Invasion of the Soho Snatchers [Curbed]
· Development Du Jour: The Dwyer [Curbed]

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