Condominium sales at The Point on the River are picking up after the bankrupt development was taken over by Milwaukee’s Mandel Group Inc. and Garrison Partners, Chicago. Formerly known as First Place on the River, the 147-unit, 12-story condo was placed in receivership in early 2008 with only a couple of dozen units sold. Through the end of February 2009, Mandel’s executive vice president Bob Monnat said there are 60 units either sold or under contract. “This is the strongest sales velocity we’ve seen in three years with nine contracts signed in February,” he said. The Point on the River, 106 W. Seeboth St., is located at the point where the Milwaukee and Menomonee Rivers meet. It has condos ranging in size from 700 to 4,000 square feet. Prices go from $159,900 to $1.5 million for the penthouse units.