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New development, La Celia, by L&M Partners for middle income buyers (income restricted). What do you think of the marketability of the area - I am trying to decided whether it will be an painless resell at least purely on convinience to transportation, proximity to park, nice finishes? Any thoughts if it is worth it (given below market rate pricess but also my time horizon of 3-5 yrs owning due to potential move).
I think its going to be a great building judging from the finishes I saw. There is actually a baseball park in front of the building (not sure if that guarantees that they will not build in front of it) and the proximity to Central park. All in all the area has quite a few new buildings 1212 5th and another big Related Rental building on 103rd. Those would bring up the area too. I would definitely go for it specially if you are qualified.
Thanks Tom, are you looking to buy in the building - seems you know what this is about.
In addition how will comps be established for the building since there are not many coops in the area?