88 greenwich

MintyDream: about 3 months ago

Is the building livable now?

northenstar: about 5 months ago

Don't believe everything you read in the paper. Not all buildilngs in the area are flooded. The media likes to over react. 99 John, 20 Pine, 40 Broad, all buildings on William Street are fine. I live in the area and loving it. Actually I got power back before my friends who live around Union Sq/Gramercy area. :)

streetview: about 6 months ago

Why does the owner/tenant feel like taking on the managing agent?

Additional comments will be helpful in getting to the crux of this.

jason10006: about 7 months ago

Uhhhh....ever single building in the area was flooded. The building is in a flood zone.

"This map shows the heights of floodwaters during Hurricane Sandy — over 17 feet in some areas."

http://www.nytimes.com/newsgraphics/2012/1120-sandy/survey-of-the-flooding-in-new-york-after-the-hurricane.html?hp

streetview: about 7 months ago

It's interesting to re-read the posts from 2-5 years ago. All seem to touching on some issue relating to the integrity of the foundation.

The recent lawsuit will be amended most likely once further review is made of the offering.

Is the managing agent still controlled by the Seller/Developer?

NWT: about 7 months ago

An owner is suing the board and the managing agent: http://ny.curbed.com/archives/2012/11/20/greenwich_club_hit_with_first_postsandy_tenant_lawsuit.php

huntersburg: about 7 months ago

Sammy, it's a condo, what do you mean "management"?

sammy300: about 7 months ago

RE: Sandy

I have a friend who owns a 1-bedroom here. Ran into him a couple of nights ago while I was grocery shopping at the Whole Foods in Columbus Circle. He looked tired, dissheveled & many other things. When asked what brings him to this neighborhood, he told me he had to evacuate & is now staying at the Hudson Hotel on 58th & 9th with wife & 2 kids (in one tiny room) FEMA to pay for first month only; kids are driving him nuts but he can not go back for at least 4 months! (realistically, 6). Because that's how long it will take (at a minimum) for the building to become somewhat livable. On top of it, he said mgmt being complete jerks: the Master Flood Insurance Policy says it will cover relocation for all residents, but mgmt is refusing to do so. He is now looking for a short-term rental uptown. Knows he is completely screwed as he bought at the peak & now the place is unsellable. I have visited the building a few times & find it to be dark with a dorm-like feel. Finishes are good but definitely not worth the price. And I've been hearing about issues with mgmt for at least 3+ years. He said class-action lawsuit against mgmt imminent.

streetview: about 7 months ago

Anyone try to rent here recently.

NWT: about 7 months ago

It didn't: http://ny.curbed.com/archives/2012/11/02/88_greenwich_declared_unsafe_and_completely_uninhabitable.php

streetview: about 7 months ago

Any news on how it rode out Sandy?

huntersburg: about 13 months ago

Look at all those unique posters from years ago. These days, streeteasy is limited to people who have an approved account.

jim_hones10: about 13 months ago

Sma202, when will that happen?

sma202: about 13 months ago

wait for the crash

columbiazulu: about 13 months ago

any thoughts on the numerour 1br for sale in the building recently? saw some open houses, views look good, and fixtures are quite good as well. a little expensive though for the location, i think.

lovingthefidi: about 2 years ago

hi folks, so anyone know exactly if the foundation problems indeed exist? I've been reading a lot of rumors about it, but no one seem to know for sure. Thanks!

jvwnyc: about 2 years ago

Does anyone living in 88 Greemwich know the annual property management fee(shown as a line item in the year-end financial statment sent to unit owners) for this building or similar buildings in the Financial District?

Thank you for you help or suggestions on where to obtain.

gqbuthighiq: about 3 years ago

i am just being a wise shopper, cannot decide

RE2009: about 3 years ago

i think qg is some type of prankster

Lases: about 3 years ago

gqbuthighiq: so which is it? 20 Pine or 88 Greenwich? You buying both tomorrow?

DJuan: about 3 years ago

I bought a unit here a few months ago without a broker. You may have a little more leverage in negotiating without a broker. But all depends on if you are comfortable handling everything yourself.

gqbuthighiq: about 3 years ago

should i go in with a broker to buy or not? which one will get me the best deal

DJuan: about 3 years ago

Does anyone know what the average purchase price per square foot is in the FiDI area for a studio? I am interested in a studio at 88 Greenwich but can't seem to find any sales comparable. The asking price is about $1000-$1100psf which I think is fairly high in this market.

nyc212: about 3 years ago

k--are you sure about the taxes? The annual $20 tax increase doesn't sound right for 421a abatement. It should be 20% (per year or every other year, depending on the type of 421a the bldg. got).

About amenities--I do beieve 88 Greenwich only offers average amenities for a FiDi bldg. in that price range. You should have shopped around! Some of those amenities, although I wouldn't necessarily used them, are amazing, w/ swimming pools, spas, and so on. By contrast, 88 Greenwich primarily offers "space" as its amenities--lounge(s)/terrace, lobby, library, minimally-equipped gym, etc. The residents I spoke to unanimously complained that they could never use the terrace and the gym because they aren't big enough for a 450-unit bldg.

katyalibin: about 3 years ago

nyc212, thats Ok. I value everyone's opinino on this but yes, pretty set on the building . What but other buildings you were thinking of that had better/comparable amenities?

i looked into the abatement and it only goes up by $20 per year until it's over in 5 years. at that point, the taxes would only be $240 per month, which i think is pretty reasonable.

I have asked my laywer to look into the foundation problem. I hope to get some more clarity on it soon.

You also hit the nose on the head with the stability issues, a lot of these new buildings are so unstable that they can't get banks to approve mortgages there. Then if the building goes bankrupt, it leaves the sellers in a hole.

nyc212: about 3 years ago

First, katyalibin, sorry I said not-necessarily-encouraging things about the bldg. But, hey, if you are happy, that's all we need to know! Just keep track of the projected taxes/when the abatement ends in a few years. Maybe you can get your realtor/CPA to run some numbers, so you can plan accordingly. I had mine run some analyses, and the projected numbers were way too high for a tiny 1BR.

Also, moving_in, I can't really think of a definitive source off the top of my head (it was a couple of years ago), but the report was related to the diner across the street sinking and collapsing shorty after 9/11. I think it was either a City report or some public interest agency report, which stated that, the ground may not be sufficiently solid to warrant the current digging and construction, etc. The bldg. in question was definitely part of this "warning." The report was severe enough for me to remove this bldg. from my shopping list...

Are you set on this bldg.? There are others w/ comparable or better finishes and amenities, offering lower prices...although 88 Greenwich is probably more financially stable because they can simply keep the current renters (it's a rental conversion, unlike most others in the city).

moving_in: about 3 years ago

Thanks for the advise,NYC212. How can I find the information about the foundation problem? I did from the internet, but I could not search any of it. Is the problem for this building or for this area?

Jerkstore: about 3 years ago

Darts.

katyalibin: about 3 years ago

I AM NOT AN AGENT>> just a buyer there who is defending my soon to be new home for 5 years or so.. Where can I find more information about the Foundation problem??

I do agree with @nyc212 on being more aggressive.. we are currently in-contract on a unit at this building that is amazing, with Western views of the water. yes, there may be a Mandarin Oriental going up at somepoint and the MTA building (when is that planning to go up - 10 years??)

The apartment has Western views, we turned down an apartmen tiwht northern views because we were worreid about the HOliday In going up. Our unit has a 280 square foot terrace.
The maintenance is actually REALLY low for a building with those kind of amenities and although some may not be impressed with free coffee in the morning, I'm impressed with the full time personal trainer at the 4000 square foot gym, the free classes, the international news stand (not like im going to use it) but it's nice that its there, the beautiful harbour room, the concierge and the darts!! i love darts and that kinda sold me too.

i guess to each their own and to some the building's amenities are not OMG but based on what i"ve seen, they stood out on the beauty of the building.

I am worried about the dark floors scratching.. i am since i wear heels and this may be a problem but I can't really change that now.

I really hope as a new buyer and a first time buyer that the neighborhood will grow and once WTC goes there, it will be a wise investment.

nyc212: about 3 years ago

moving_in, that's no "deal" you are getting! Don't sign anything! You seem to be new at buying new constructions, so just FYI, yes, ordinarily, buyers pay seller's atty fees. Ordinarily.

But, most deveopers are offering to cover not only seller's atty fees but also ALL of YOUR closing costs in the current climate. "BB Gr33nwich" (to ensure their anonymity) was long offering the waiver of fees, and they are't doing well. So, I'd be surprised if you can't get them to cover seller's atty fee. In particular, they are anxious with resales and rentals popping up like crazy throughout the bldg., crowding the market.

moving_in, maybe you should be more assertive? Did you ask for at least 20% off asking? Did you ask them to cover all of YOUR closing costs? Did you ask for free storage space? Again, "BB Gr33nwich" has been trying to get rid of their apts for over 2 years with a LOT of unsod units, and it hasn't been doing well, so BE ASSERTIVE. Be ready to walk away. If necessary, do some internet search on their foundation problems and the proposed/approved MTA highrise to cover most of the Southern side of the bldg. You can use them to bargain, I am sure.

Also, the dark wood finish really impresses some people, but the amenities are MINIMAL (lounge, "library," and a concierge desk--oh, and free coffee!!!), and the $1k pf price tag and the CCs seem waaaaaaay too high to me.

I don't know what to make of the 21-day stipulation... I wonder how that would benefit them...

moving_in: about 3 years ago

Just got an deal with the sells office. I read the contract and it needs only 21 days for closing.
My attorney said it is very strict. I have to get loan from their specified mortgage broker (that is very unusual), the the buyer has to pay the seller's attorney fee $1,950 (that's so high, very greedy).

duvravcic: about 3 years ago

I think the last three or so posts in this thread include "agent input." Or, maybe it's cognitive dissonance after having over-paid for TINY units in a bldg. with minimal amenities, located in a deserted area. Also, dark finishes often conceals flaws, but they are easily scratched... If you are considering buying there, don't forget, virtually all of the South-facing windows are scheduled to be blocked by MTA, and your north-western views will soon be blocked. In addition, the bldg. may have a foundation problem according to some reports. Be sure to ask your agent about these issues--and if they deny them, ask them to put that in writing.

If you are actually happy w/ your purchase @ 88 Greenwich, please disregard my comments here and enjoy your apartment.

gc1: about 3 years ago

I've recently moved into the building and I'm pretty content with the amenities and the staff working in the building. However, while all the appliances are new, most of the equipments (such as a/c units and pipe system) have been kept from the previous era. Also, the floors are thin so I can hear my upstairs neighbor walking around.
Having said all that, I still think this building has one of the finest design details compared to the rest of FiDi condos I've visited and the location is just perfect.
Recently, a new Korean restaurant and a grocery store have just opened on Greenwich St., so I believe that things are slowly happening.
In terms of safety, I've walked home from the trains very late at night (like 2am) and I never felt unsafe. I'm female by the way. The folks at Pussycat lounge tend to just mind their own business anyway.
Hope this helps!

Jazzman: about 3 years ago

Wait, wait, wait. Prices are falling not rising. The trend is your friend.

25 Broad will dump 300 more units on FiDi, then Beekman will dump 700 more (rental). There is plenty of inventory. My guess is that FiDi will only put a few hundred units in contract over the next 12 months and most of them will be bought directly from the bank (like the units at 45 John perhaps.)
Those units at 88 Greenwich have been for sale for 3 or so years now - there's a reason the one you like hasn't been sold in 3 years. Don't be the sucker.

katyalibin: about 3 years ago

We are currently looking to buy an apt in 88 greenwich and have fell in love with this building for a few reasons. 1) the amenities are better than any other building we've seen, ever. they spared no detail on the finishes 2) i love this part of the financial district and feel it is a million times better than any castrophic space on john and fulton streets. this part of the downtown area is right near the water which i love and feels much safer than other areas i've been in. As for the pussycat lounge, i think it gives the hood some character. i'm really excited to buy in this building and think it's oen of the best deals in the area. any other feedback anyone has is appreciated though. thanks.

stash17: about 4 years ago

Thanks for the insight everyone.

jason10006: about 4 years ago

You are right. Its just empirically true that the crime rate is extraordinarily low in the area west of Broadway below chambers. Like 1/5 he NYC average, and like 1/6 that of Lenox Hill or Lincoln Center.

nyc212: about 4 years ago

That's fine; it's just semantics. Still, I do feel unsafe walking around that area at night, and I am a big Black man.

I am sure, though, you won't dispute the rest of my point that most night-time/weekend scenes appear to take place along the "other side" of FiDi between South Street Seaport and B'Way.

lajeep405: about 4 years ago

"Sketchy" means the Pussycat Lounge and the Adult Bookstore a few doors down.

jason10006: about 4 years ago

Per the last point - used to live right near there, and I would hardly call the area "sketchy" at any time of day. Its empty, yes, as is BPC across the way...but the crime rate for those three zip codes are literally the lowest in the city by a mile as a result.