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I've seen ads announcing closings January 2--just wondering if anyone has closed. Looks as if only 25 of 69 units are in contract after more than a year on the market and prices are from a bygone era at $2000/sf. Will people really close?
Closings are starting May 1.
Nobody in their right mind should be closing at their original contract price. Run, Forest, run! How fast does this go to foreclosure by the construction lender? Anyone even thinking about closing and losing another 20% on top of the deposit they already lost should also consider the litany of problems they will face in a building that is less than half sold.
Oh, yeah, SoHo Mews in Chinatown, right off Canal. No matter how fabulous the amenities might be, the area is waaaaaaaaaaaaaaaaaaay too skanky.
It's opposite the W Hotel and right off West Broadway. That's not skanky at all ...
Sure, it may seem that way on the map. But I go to the area there 3x/week. It is also around the corner from the area where those Nigerian street vendors congregate on/off Canal 24/7 & the Dunkin Donuts where the homeless bathe. WB is really a lost cause, once you go past (to the South) the tunnel approach.
OK I was not aware of THAT. The building does look awkward for being in that part of SoHo
Uh, have you been to NYC?
Not the best location but then that has not stopped the soho grand being successful. Soho mews is directly opposite.
Btw as most know I live in tribeca which this part of soho is close to so I go to his area more than 3x a week. Just in case that gives me extra weight.
212, your referral to Nigerian street vendors and homeless people as 'skank' is in poor taste and, frankly, racist.
I sold a loft on this block in 2008 -- it has gotten remarkably better in the past five years. You have a reasonably high-end parking garage on that street that serves a function of having eyes on the block and I think having SoHo Mews occupied will only help that. Yes, there are street vendors around the corner on Canal, but you're also a stone's throw from La Colombe, the best coffee in the city.
South SoHo is not nearly as clean and chic as North SoHo, but it's not as overrun with tourists on the weekends either.
I went through the building and the model units. It's gorgeous - no expense spared! I did see the street vendors on Canal but location-wise it's very convenient with the A,C, 1,9 and N, R not too far away. Also, I wouldn't take the listings on Streeteasy as gospel or what is on the market or available - I know, I bought a unit a few months ago. Crazy? Probably, but I can tell you that I sure didn't pay the asking price that they have listed. Also, if I were the developer, why would I cut the price when people like me are going to start with a low-ball offer anyway. Are prices going lower? Absolutely, but to those people who think they will pick up one of these units or most high end real estate in NYC, good luck, you're not going buy something at 75% off! If you love the place, most importantly you CAN AFFORD it and you plan to be there for at least 5 years, then it's a good time to be a buyer. No, I'm not an agent or a developer but someone who watched the silliness of the last 5 years and thinks that this is a pretty good time to buy if you have the money.
What kind of discount did they offer you?
it came out about 16% lower which i think is reasonable. some of these cookie cutter buildings or buildings in bad locations are going to be a lot worse but I think this one will do fine over time. Don't get me wrong, I'd much rather rent but don't want to move again in a year. Also, most of the remaining units seem to be 2 bedroom (we bought a 3bed). Another big selling point for us was the 421 tax abatement - that's a huge savings per month that you have to factor in.
I am sure it's very nice...as nice as many of the new constructions in the City.
Still, it is located in Chinatown...no matter how you paint it,
and its proximity to the tunnel entrance can be quite annoying.
There is nothing wrong w/ living in Chinatown, and I just think one should tell like it is.
It's across from the Soho Grand - it's not called the Chinatown Grand is it?
No, but it should be. If it walks like Chinatown, talks like Chinatown, and smells like Chinatown, it IS Chinatown. Why deny the obvious?
SoHo Mews is conveniently located near the intersection between W. Broadway and CANAL. 'Nuff said.
SoHo Mews closing @ 23% below asking price.
05/31/2007 Previously Listed in StreetEasy by Corcoran at $3,950,000.
09/19/2009 Listed in StreetEasy, already in contract, by Corcoran at $4,150,000.
09/29/2009 Listing sold.
09/29/2009 Corcoran Listing sold.
09/29/2009 Sale recorded for $3,165,000.
10/20/2009 Listing entered contract.
It's definitely not in Chinatown and nothing you say can make it there. The blocks of "south" Soho were seedy/sketchy 5 or so years ago, but the completion of the soho grand hotel and the building up of west broadway/grand over the last few years has actually made the area really pretty nice. YES it is close-ish to canal, but it is definitely NOT in the chaos of chinatown. For the record, I live in "north" soho and I am 24 and couldn't afford for the life of me to buy at the mews so I have no skin in the game, but tell it like it is and don't equivocate.
i think you mean Cipriani Downtown, not Chinatown :)