http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem en-us 40 Most recent comments for 5th on the Park (Harlem) <p>update on isla </p> <p><a href="http://sf.therealdeal.com/newyork/articles/fighting-buyer-mutiny">http://sf.therealdeal.com/newyork/articles/fighting-buyer-mutiny</a> </p> <p>"This month, The Real Deal looked at the new condo buildings that have seen the most buyers trying to renege on their contracts since the real estate market took a nosedive last year. </p> <p>The analysis found buyers asking for their deposits back on nearly 400 units within 20 buildings. In one case, more than 50 percent of the buyers in a building, the 505 in Hell's Kitchen, filed lawsuits in federal court asking for their deposit back. "</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=250646 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=250646 <p>Any news on this building? It's currently a ghost tower in Harlem. Will it ever open?</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=246954 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=246954 <p>The building is mentioned in today's NYT RE section as the final stop for a clueless suburban divorced woman. The reality of her purchase has been an awakening. </p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=244785 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=244785 <p>Is it even safe to walk from the subway late at night?</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=218235 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=218235 <p>Tks Bronxboy. It seems to me that the brownstones bought in the peak continue with the renovations. There is a lot of activity of that kind in central Harlem.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=200251 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=200251 <p>Evenutally it will help the neighborhood, but only when it becomes more affordable.. .or until the Harlem downturn ends and that's a ways off. </p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=200160 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=200160 <p>Do you think that in the long term this development will hurt or boost the neighborhood? Since the units are finished (I saw one of the 3 bedrooms with views and it was pretty spectacular, actually, though insanely priced), I don't see the place turning into a phantom building. Will it bring more restaurants? Safety? What do you foresee?</p> <p></p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=200136 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=200136 <p>btw, if any buyer is concerned with confidentiality and would rather speak with a real estate lawyer whom i'm also in discussion with, you can reach him at: <br />Michael Katz <br />212 682 6260 <br />MichaelAKatz@verizon.net </p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=193214 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=193214 <p>"I thought he was a nice enough fellow, in a family-run business. "</p> <p>as in "the will be blood"?</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=193213 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=193213 <p>Hi, I'm concerned that to date there's only 2 closings out of the 97 contracts and would like to connect with other buyers to exchange info. If interested, please contact yellowstarfish88@gmail.com, thanks.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=193212 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=193212 <p>^^ I lived in Midtown Manhattan for 9 years in a spacious 1 bedroom 1.5 bathroom that had been converted to a somewhat tight 2 bedroom 2 bathroom, and in early 2008 started looking for a true 2-2.</p> <p>Wanted to spend under $1M, so of course I looked at FiDi and Harlem. But there really isn't much in FiDi at that price. Harlem has a lot. But FiDi seems to have much more neighborhood amenities, even if they do all close at night and on the weekends.</p> <p>I did look at 5th on the Park, and have to say I was very unimpressed with its finishes, pretty standard (even ugly) for the asking prices. And the location sucks. Several blocks from any subway and almost no retail/restaurants/bars.</p> <p>I can't believe what a crook the developer turned out to be. I thought he was a nice enough fellow, in a family-run business. </p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=187314 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=187314 <p>"having lived in FiDi and Harlem both, I can say they both are pretty darn remote from the rest of Manhattan, and there is not a strong argument for one over the other."</p> <p>That's just an insane comment. Seriously. </p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=187225 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=187225 <p>has anyone joined the 5thonthePark discussion group on FB? seems restricted. </p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=187172 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=187172 <p>All relavent. It is still not open for peoples yet.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=180568 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=180568 <p>1. What are the requirements for a condo to be declared effective?</p> <p>2. Once a condo has been declared effective under what circumstances can that be undone and by whom?</p> <p>3. If a condo is declard effective but no buyers can close for any number of reasons what are the possible outcomes?</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=180465 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=180465 <p>what will this new group be about?</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=180461 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=180461 <p>jason <br />here is the link to the group <br /><a href="http://finance.groups.yahoo.com/group/harlembuyers/">http://finance.groups.yahoo.com/group/harlembuyers/</a> <br />welcome</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=178163 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=178163 <p>I will, thanks.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=177601 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=177601 <p>jason, joedavis put together a Harlem Yahoogroup. It will be great if you join!</p> <p>which one? want to join!!!</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=177588 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=177588 <p>do they not know how touse the interwebs?</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=177489 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=177489 <p>why do people start new threads!?!?!?!?!!?!?</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=177487 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=177487 <p>A friend of mine is in contract at 5th on the Park and told me about this site that is organizing the resistance: <br /><a href="http://tinyurl.com/dfw566">http://tinyurl.com/dfw566</a></p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=168435 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=168435 <p>jason, joedavis put together a Harlem Yahoogroup. It will be great if you join!</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=168402 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=168402 <p>Citihabitats is marketing the rentals as 1481 5th...as in the rentals the church will keep the money for in return for the land use. I don't think citiBANK financed this bldg though.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=168381 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=168381 <p>jason, what do you mean by "citi has been marketing these." you're talking about vikula's big C? and i'd be hugely interested in any marketing info you might know of. not surprising, really, that the money came through. what is the lender going to do, realistically? they need to get the building finished so they can determine what to do with it.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=168302 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=168302 <p>They are finally finishing up. They were working on the weekend, so some money must have freed up. But no price chops yet.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=168281 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=168281 <p>"...the 47 rental apartments that were always part of the mixed-use building's plan (there's also a church in there somewhere). The one- to three-bedroom rentals hit the market about three weeks ago, and two have signed leases in place..."</p> <p>Citi has been marketing these since APril 1. Occupancy since May 15th. And 2 leases out of 47? I guess I am not imagining 48 cragilist posts per hour from them on this.</p> <p><a href="http://curbed.com/archives/2009/05/26/rentals_at_harlems_fifth_on_the_park_don_disguise.php">http://curbed.com/archives/2009/05/26/rentals_at_harlems_fifth_on_the_park_don_disguise.php</a></p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=166157 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=166157 <p>try this: FifthOnTheParkDiscussionGroup </p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=165939 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=165939 <p>No such group comes up.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=164448 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=164448 <p>Are you a contract holder at Fifth on the Park? <br />Join them on facebook. <br />Search for the group: <br />"Fifth On The Park Discussion Group ( FOP )"</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163941 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163941 <p>there is a tco for floors 7-12 (but not for 6).</p> <p>no one scheduled to close by 6/2 has been able to do so for a variety of reasons incl. bank financing. .</p> <p>when is the ny times going to do a story on this fiasco?</p> <p>when is the ag's office going to intervene and help these customers who have been duped by this bankrupt developer. </p> <p>when is artemis going to realize the damage this project is doing to their brand and decide to shut it down.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163857 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163857 <p>hello? </p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163848 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163848 <p>I assume the blogger knows or has skin in the game because s/he has info on a group of owners trying to get out.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163158 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163158 <p>Jason - just found the blog. So it was a shill. <br />I was told by a lawyer that the AG will ignore such a sale, since there is no CO or TCO. Should be a good opportunity for any buyers who don't want to close (and who would based on the report in the blog) to walk and get their deposits back.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163133 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163133 <p>The blog I linked to above said it was a related party to the developer, so it what probably the developer using a sub or affiliate or just a relative. No one would close at cost all cash months before you can even move in.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163118 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163118 <p>bronxboy, what a blessing in disguise!</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163108 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163108 <p>Jason, the funny thing is, it looks like the buyer got no meaningful discount on the unit. I checked ACRIS and the buyer did not need a mortgage (wish I had that kind of money laying around), maybe he "closed in escrow"? The Declaration of Condominium has also not been filed in ACRIS, at least as far as I can tell. This is usually required before you can close with a bank mortgage, unless you close in escrow. <br />Certainly is a curious situation. </p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163104 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=163104 <p>Yes, for sure it was to beat the deadline. I looked at the rental side 1481, and they said they did not have a certificate of occupancy until May 15th, and that the condo part would come some time after that.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=162979 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=162979 <p>Maraman, i would love to get my hands on the closing documents for that March sale. I wonder who the buyers are (i know the names, but those are meaningless to me), and whether they were given some sort of buyback guarantee to induce them to close.</p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=162974 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=162974 <p>I almost bought there in the summer of 07 until the developer's son, who was acting as a sales agent, was an arrogant SOB and turned me off of it. At the time, I was told that the development would open in the fall of 08. I thank my lucky stars that I did not buy in that overpriced disaster. </p> http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=162964 http://streeteasy.com/nyc/talk/discussion/3532-5th-on-the-park-harlem?comment_id=162964