Manhattan House - 200 East 66th Street

All the pipes and heating units in the building are wrapped in asbestos - so, if any work needs to be done in an apartment, the guys in spacesuits and vetilators are needed. You can find more info at "The Real Deal" or on the building's blog at http://200east66street.blogspot.com.

This conversion looks like a disaster in the making. According to the January 9th legally mandated posting by the sponsor in the building's lobby, contracts have only been signed on 23 of the units, representing about 4% of the approximately 575 units in the building. According to the sponsor's filings with the NY attorney gerneral's office, the sponsor's $750 million senior bank loan from HSH Nordbank requires that the condo conversion plan be declared effective by June 1, 2008. In order for the conversion plan to be declared effective, contracts for at least 15% of the units (87 units) must be signed with purchasers who represent that they intend to occupy the unit. What do you think the odds of their having signed an additional 64 contracts by June 1st are?

I would guess that some serious price drops are coming, but even then - who is going to sign a contract and pay a downpayment for a condo that may be taken over by the lending banks who hold the mortgage?

This conversion has bigger problems than asbestos.

Anyone bought in here? It looks like they have reached 85 units. In streeteasy total of 84 units no longer available by Jan 31 2008...

tylernewyork - your info is incorrect. On February 9th, the sponsor posted in the lobby of Manhattan House that 7 tenants have signed contracts to purchase and 48 "bona fide purchasers" have signed contracts to purchase - for a total of 55 signed contracts out of the 87 required for the condo conversion plan to be declared effective. If the plan is not declared effective by June 30th, it is considered abandoned, and a new plan cannot be submitted for a year.

I believe that the number of units that Streeteasy shows as available depends upon many factors, such as apartments being combined or prices changing (which often show up as the unit dropping off the for sale list at the original price and showing up on the for sale list as a different unit at a new price).

I think the building's blog is http://manhattanhouse.wordpress.com

Actually, I believe the blog referred to in the prior post is a public relations blog set up by Quinn & Co. Public Relations, the PR firm for O’Connor Capital Partners (the Sponsor of the Manhattan House condo conversion). The Manhattan House resident's blog is still http://200east66street.blogspot.com.

Having signed a contract to purchase at Manhattan House, I now realize what a mistake that was, and I do not want to close on the apartment. I have been speaking with Adam Leitman Bailey (www.alblawfirm.com), the attorney who represents the Manhattan House Tenants' Association, about having him represent a group of similarly situated purchasers in an action to recover deposits from the sponsor. I recommend you contact Adam if you wish to participate.

Are you sure you covered all the prior postings for Manhattan House?

gutter86: I hope I did, as that was my intent. I believe that there are a large number of Manhattan House purchasers who, like me, want out of their contracts. I have spoken with Adam Leitman Bailey (www.alblawfirm.com) and believe that he is the right attorney to handle this matter, as he has extensive experience in this area and already has a full understanding of the situation at Manhattan House from his representation of the Manhattan House Tenants' Association in their conflicts with the sponsor. The more people that choose to use Adam Leitman Bailey to represent them in recovering their deposits, the lower the legal expense will be for each of us. The problem is that it is difficult to reach out to those who have signed contracts at Manhattan House and want out, as their names are not publicly available. By posting here, I hope to reach some of them.

How many buildings in Manhattan have asbestos?

are you serious?

There goes C0C0, defending asbestos.

there goes greasy burg, lying again.

What is your connection with asbestos?

you tell me.

you made it up.

Of course. You are never responsible.

oh come on already.

enough.

figures

how come SE doesn't shut you down?

So SE is to blame on your asbestos connection?

is that what you think?

is any of what you say real?

What would explain your interest in asbestos on this thread all of a sudden 45 minutes ago?

how come SE doesn't shut you down?

So SE is to blame for your asbestos connection?

what do you think?

i know what i think.

>i know what i think.

Congratulations on knowing what you think.

why does SE leave you alone?
why?

So SE is to blame for your asbestos connection?

nope.

why does SE let you keep going?

why could that be?

Keep distracting from your asbestos problem

i know why SE doesn't shut you down.

Asbestos?

nope.

i know why.

Not only do you know why, but apparently you know what you think.

brilliant.

shame on SE.

So SE is to blame for your asbestos connection?

you can repeat that endlessly, can't you?

nope.

money talks, doesn't it?

You just learned that fact of life at the age of 83?

enjoy yourselves.

So you are finished discussing asbestos?

another notch in your rather large belt.

Are you calling me fat?

nope.

if only there were more people ( are you a person?) like you.

life would be ....

>are you a person?

Corporations are people, right?

OMG why all this for just a simple question? And the brokers won't tell you either, how can you find out?

Anything built before the 1980's will have asbestos in some form or other. It used to be pretty much everywhere.

Buildings converted to co-op or condo since then will include an asbestos report in their offering plans.

If you're not planning to find it, chip away at it, and do "prolonged inhalation", don't worry about it.

NWT, thanks for the info. Any thoughts on C0lumbiaC0unty's asbestos?

SE, why?

>SE, why?

In this thread above, it seemed like you had a pretty strong theory.
Is this now an acknowledgment that you were wrong? Or are you getting old and you forgot what the theory was?
Or were you lying?

SE why?

>SE why?

you forgot?

SE why?

your glasses are on top of your head

SE why?

C0C0, any update on you and the asbestos?

the monster again.

yes, asbestos is a monster. Please explain your relationship with asbestos.

SE, why?

this monster runs around here.

SE, why?

http://www.dailyfreeman.com/articles/2012/07/20/blotter/doc500932889f862673433738.txt

SE, why?

why let this monster run loose?

C0C0, any update on your asbestos?

se, why?

C0C0, come clean about your asbestos. No sense waiting the couple years potentially till your death bed.

se, why?