Just like several projects in town, Insignia condos on 5th Ave and Battery St is on hold and the developer is waiting for the market to recover. They are hoping to launch sales sometime in the Spring of 2009. More information will be added to their website in about four weeks. The developer has no intention to turn it into an apartment complex.
Insignia will offer quite a comprehensive range of amenities including 24 hour concierge service, indoor swimming pool, fitness center, wine tasting room, sky lounge on the 41st level, library, meeting room, and a party room.
636 Homes in these two towers will be primarily 2 bedroom and 2 bedroom plus den floor plans with sizes ranging from 950 square feet to 2,000 square feet. The project will be built in two phases. Phase 1 will take 2 1/2 years to complete. Estimated completion for Phase 1 and Phase 2 will be around later 2011 and 2012, respectively. Judging from the size of these homes, it will probably appeal to empty nesters and urban professional couples.