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Kalahari and Adeline on 116th str is much better location for the same money
Planning to buy a 2 BR condo in 5th On The Park. Any inputs? Thanks
The penthouse was recently sold to a investor and tried to rent it out. Meanwhile it was already overpriced and they tried to get $15,000 per month for it- As you can see it keep coming and going of the rental market. Not A Good Investment!
"@jonathano look at the penthouse apartment- im not sure about any other 4 br in this building beside the penthouse but its priced at $5,950,000"
The PPSF of the Penthouse is TOTALLY out of whack with the PPSF of any other units - including ones on the same floor or just below. Yet the finishes are EXACTLY the same. It would be cheaper to buy two or three units and combine them then to get the penthouse - and a few units have terraces as big or bigger than the Penthouse and are on as-high floors.
"I'd be curious to know what kind of discount a cash offer gets in the building for a 2 or 3 BR. anyone know from experience? thanks much"
Very little discount. 15K, a 2 bedroom (with a very wishful suare footage) just sold for almost $900,000.
Maybe the hot FDB real estate market is spreading east.
Were you able to get any info on the planned capital improvements? I'd be interested to find out what they are too. Thanks!
Anyone have any insight on the planned capital improvements at Hudson View Gardens? They seem pretty substantial so wondering what the impact would be in terms of assessments or maintenance increases.
And that has nothing to do with you.
gothamsboro...huh? No not me the seller the broker owes it to his/her buyer to show them every apt available.
excellent DanDigs. Unfortunately you are the exception. I salute your efforts and wish you all the best on your business model.
@SteveF. I don't hide FSBOs from my clients b/c, like KeithB said, every buyer has the same alerts sending listings to their inbox, so they're going to see them. I have also sent clients to FSBOs in the past b/c it made sense for my client (and am actually sending one this weekend). It's about taking the long view with a client relationship, and because my business model allows me the flexibility to take a lower commission than conventional brokers, owners have generally been willing to work with me.
steveF, you talk as if the broker representing the buyer actually owes you, the FSBO seller, a duty. He doesn't.
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Hi , I have been trying relentlessly to get my listing on Streeteasy, it still keeps saying inactive and no way to activate it. Can someone please let me know what to do to have it go LIVE right away? THanks
Is this structure necessarily a "net listing"? Based on a quick Google search, a net listing is defined as "An arrangement in which a property owner pays the listing real estate agent all purchase price proceeds over and above a minimum figure required by the owner. " The structure above would not pay all proceeds above a minimum amount, but rather a higher fee (as a percentage) which ratchets up at various pre-specified thresholds. I'm not a lawyer so I could be mistaken in my interpretation.
NYCNovice, I'm fine with it. It's meant to protect the unsavvy consumer, who may not be aware of the true value of their property, against predatory agents
Thank you fore reply JMHunt. Sheer curiosity: As an agent, how do you feel about its being illegal?
@NYCNovice: Illegal under under Department of State Licensing Law. It's called a Net Listing and it's illegal.
Illegal under what statute? I don't know anything about this area of law and only vaguely recall Justice Department's attempt to challenge anticompetitive practices in real estate. Were I an agent, I would be very frustrated if I could not negotiate whatever fee structure the market would bear.
Come back in about 24 hours and reread your posts.
Where X was sales price, my buyer would not have purchased property at 1.05x, and I would not have sold property at .95x, so agents were right not to take in listing; property would have just sat, so final note is that agents' assessment of propert was accurate - just not the end of the story.
I note that in my FSBO experience, I was very firm with agents I interviewed about what I wanted to net and no agent was confident in their ability to get me my price so I didn't list house and sold it myself through word of mouth. Shows that agents' professional assessment of property is not the last word.
re point 8 - it listing is FSBO, buyer absolutely saves by going directly to seller. I sold a property FSBO directly to unrepresented buyer for 5% less than what I would have sold it for had a broker been involved.
Real Estate just like any business is a very creative business. I have been in real estate for 16 years now and first things first-
1. The term broker is loosely applied by those outside the industry. People tend to confuse an agent license with a broker license. An agent (sales person or associate broker) hangs his license under a broker and every time he or she makes a deal has to split the commission with the principal broker.
2. Look at well-established firms that have 300-400 agents. The principal broker is “one” and the rest of the 300-400 agents hang their license with the principal broker.
3. Hope you are clear and now since that’s out of the way the temptation of an agent working with a large firm to give his buyer or seller something back is kind of rare because the principal broker may not allow that. And secondly if it did, the money on the table isn’t significant enough because the agent has to slice and dice the commission with the principal broker.
4. At a $1 Million buy let’s assume the agent gets $30K (3%). From this $30K let’s further assume his commission split with the principal broker is 40/60. He will give $12K to principal broker and take home the rest $18K.
5. On the other hand if you deal directly with a principal broker he or she may be more inclined to pass on the savings to you as the buyer or seller and most importantly offering the same representation that you will get working with an agent at a large firm.
6. What I find interesting is if another agent located outside the city or not specializing in that particular neighborhood were to send a buyer to a large company they are happy to give 25% referral fee. On a $30K commission the referring party will get $7500 and the rest $22,500 will get split 40/60. So why do they offer resistance when a buyer wants the commission rebate?
7. Because most brokerage houses do not want the consumer to know that the US Department of Justice as well as the NY Department of State, allows brokers to rebate a portion of their commissions to the buyer or seller. The reason the US DOJ allows this is to enable smaller firms to compete with larger firm and this in return is a win-win for the consumer.
8. Every buyer should seek to be professionally represented by a broker. There is absolutely nothing to be gained when you go direct to the seller’s agent. As buyers you are not getting a discount or saving the commission. The seller’s agent wants the best price for the seller and you as the buyer want to pay the least you possibly can. Do you know of an agent that can simultaneously fight for both those outcomes? Read the NYS mandated disclosure form clearly and have a good understanding of the form. It was implemented to protect you, the public. Imagine if you were a plaintiff in a lawsuit. Would you hire the same attorney who represents the defendant?
9. I specialize in buyer & seller representation and I am happy to help. Call me at 212-500-0899.
Hi - I need to get out of my apartment with 6 months left on the lease. The building said if I find someone to take over the lease then I won't be penalized. I've been posting ads on craigslist with no success. Funny thing is the building's leasing office is telling me they can rent it out in a heartbeat, but they won't help me search for a renter. Which is odd. Anyone know why they can get rid of the apartment so easy but I cannot? I must be doing something wrong. I'm thinking of standing in the lobby during their open house this weekend and advertising my own apartment since renters will actually save on the amenities fee, since I've already paid it in full. The building has a 24 hr doorman, outdoor pool and hot tub, gym, golf simulator, kids room, billiards, in unit washer and dryer. You'd think it would be pretty easy to move it.
It also has a great view of NYC. It's in Weehawken/West New York.
Any ideas on what I should do?
7 of the 8 treadmill machines at the "fitness center" from the 90W building are broken. I would add a picture but street easy does not support that.
Also, the "roof deck" has been under renovation for over a year, and no one is currently working on it.
Something you should know before renting here.
A broker showed me a few rental places today, one of which I really liked.
I started searching for some pictures online to send to my husband, when I found that other brokers were quoting a different rent for the exact same apartment (about $100 cheaper). Also, one broker is not charging a fee.
What is the etiquette here? The broker I went around with today was nice enough, but I don't want to feel like I'm being taken advantage of. Is it possible that some brokers absorb the fee paid by tenants? The original deal I got was 1/2 month's rent (the building pays the other half).
Would love to hear your thoughts.
Has anyone seen the units at this Mitchell-Lama conversion? How are the finishes?
Does anyone know if the entire building has been converted and if financing for the building is problematic?
You got the cash?
You can call/text me at 858-754-9395.
Looking to buy a 1br or 1br den in The Sheffield. If you're looking to sell please let me know.
I absolutely love living off Riverside and being in the lower W90s I'm just 3 blocks to the express 2,3. I also really like the northern tip of West End Ave, where W 106th and Broadway meet. We moved here from the West Village about 5 years ago and one of the biggest pluses of being west of Broadway is that it is completely non-commercial. We wake up to birds chirping, no traffic noises, and still next to great restaurants and the subway. For us it's the perfect balance.
Agreed with NWT. We started our UWS search saying that east of Amsterdam was essential, but now having lived in the neighborhood would say that east or west are equally attractive. Proximity to your primary subway is a big plus though (the B,C is pretty spotty, so if you can use the 1-2-3 being close to that line is pretty huge). Also, we find RIverside Park in many ways nicer and more usable than Central Park, so being far west is still pretty great
There're many fewerUE elevator buildings on Columbus than on WEA or B'way. There's so little inventory altogether, you should just see what's available on both sides of the UWS, controlling as best you can for the other factors Aaron2 mentioned, and make your own judgement.
No park views at all. Compare say approximately 40 W 82nd to 140 W 82nd to 240 w 82nd? These are not real addresses. I am talking about the simple comparison. I was told that being close to the park adds a solid 10% or so from being say, over by west end.
I wouldn't call it TriBeCa, as it's on the east side of Broadway, and historically the area was bounded by Canal Street, West Street, Broadway, and Chambers streets. At one point, "TriBeCa" was the cool place to be if you couldn't get into SoHo, but that was long ago supplanted by Park Slope, Williamsburg, Harlem, etc. Perhaps with the draw of Nuns (!), Chinatown will be the new "It" place.
The building is in Chinatown, next to a police detention facility. The school district is Chinatown. With a name like that, just because it has a Broadway address, does not make it Tribeca.
The majority of people living here are Chinese, and most of them don't even speak English. There is even a Chinese temple with Nuns in the building.
What a HORRIFIC situation. Hopefully, you are a renter, can withhold rent, and ultimately can get out of that hell hole! What you are describing is housing at its most terrible and illegal.
Is this really in Tribeca?
There is no hot water today. Did the building water tank break again? Heating is finally working, thank god they fixed it before 4 degree Sunday.
Also there has not been monthly pest control/bedbug extermination service for over 4 months now. There are more roaches in the hallways. Did they completely give up on control these pests? Or they think the cold weather and broken heating system will get rid of roaches and bedbugs by itself?
Use you head for something other than a hat rack! Low ceilings, cookie-cutter layouts, tacky kitchens, crumby bathrooms with tiny tubs (no therapeutic soaks here) -- and you want to know why they are cheap??? Its because they ARE cheap........................
I ended up moving in and I've not noticed it. My guess is they try to avoid 9th ave (traffic), but not sure.
Anyone know whether the hospital being so nearby is a problem (ambulance sirens at night)? Thanks much.
Prices seem really too reasonable for the location (same block as the Mandarin, Time Warner). Are the lobby and hallways well kept? Are renovations restrictive?
It looks like there has been a lot of work done on the building in the last few years. Since the building was new, I cannot imagine what else this would be if not repairing the defects
http://a810-bisweb.nyc.gov/bisweb/JobsQueryByLocationServlet?requestid=1&allbin=1087779&allstrt=EAST 110 STREET&allnumbhous=161
I also notice that it was issued a permanent certificate of occupancy last year, which is another good sign. When the units were first sold, it was done under a temporary CofO. It then went several years without any CofO, before this new one was granted (probably while it was being repaired).
In any case, I can't say for sure whether there are any problems, but at the surface it looks like it is probably ok.
However, it does looks like there may be some problems with the heating system.
Also, someone above mentioned a tax abatement. I do not see an abatement, but it does have a 421A exemption with four years remaining. Not a bad thing.
I am thinking to buy an apartment in the building but there are still problems with construction. Does anyone know if it is safe to buy in the building?
There are no resales in this building.
jason10006 -- which apts are the resales? Can you provide more info. Thanks
Thanks for the info! Noise factor & grocery store closure. Re-sales already? mmmm.... I have to think about those. Thanks again!
I have a friend who lives in an HDFC in this neighborhood, and I agree it is a pretty area, in daylight. But I personally do no feel very safe there at night, there are not enough business to bring activity to the streets. The park cuts it off from the rest of Harlem. But it is improving, more restaurants are opening, and you can walk to Yankee Stadium from this neighborhood.
Thanks Semerun. You basically confirmed what I already thought. We went to 2 open houses today between 145 and 140 and while the spaces were quite good, I'm not sure that I would feel comfortable with my wife coming home alone late at night. We've been looking in Hamilton Heights and that would be our preferred location for a variety of reasons, but someone always seems to beat us to an offer. We're pretty much limited to the HDFC buildings and the inventory has dwindled dramatically since we began looking a couple of months ago. I'm hoping that something new will come on the market soon.
Central Harlem in the 140's, and more specifically in the upper 140's has been improving, but unless you fall in love with a particular apartment or building, I would recommend Hamilton Heights over this area. Granted, it's well known on this board I am biased toward Hamilton Heights, but there are solid reasons to head west. South of 145th in this section of Central Harlem are lots of housing projects..and problematic crews (gangs). North of 145th in Central Harlem it's a lot more new development because the area had been so run down for so long. The one building I really like in the area is the PS 90 condo's, but it's the only real standout I have seen in the area. If buying a new construction building, expect headaches or wait until the buildings are 7-10 years old when the legacy construction issues are resolved. Another issue you should consider is whether the building falls into the flood zone or not. Retail wise, you have Pathmark (which is poorly managed), Duane Reade, Starbucks, all within a block . The one standout performer was Mountain Bird- the landlord hiked the rent which forced them out and they are seeking to relocate in Hamilton Heights. South of 145th, on the eastern border of the neighborhood and Hamilton Heights- you have some new quality retail (Manhattanville Coffee, The Butcher's Daughter, The Edge)...but it's not around the corner from the high 140's you are asking about.
Does anyone have any thoughts on this area? I've been to look at a couple of apartments there and it seems to be pretty block by block. There does seem to be quite a bit of new development though.
You can call these people at Morningside Gardens. They're really nice people. A lot of brokerage firms are also representing sellers.
Sales and Transfer Manager, Frank Aguilar, (917) 340-6155, email@example.com or Assistant to the Sales and Transfer Manager, Carina Caba, (646) 634-3337, firstname.lastname@example.org.
Thanks for all the responses! Jelj13, we'll check out Morningside Heights.
The Owl's Head Wastewater Treatment Plant was built in the 1950's. It is on the corner of the neighborhood across the highway and separated from the neighborhood by a huge park.
I lived at that end of the neighborhood, 1 block from the park, for about 18 years and there were RARELY an odors. My parents stayed in the apartment while I moved 10 blocks closer to the Bridge. They rarely smelled anything while I NEVER smelled the odors.
John75, your friend probably lived in Sunset Park. They always got the full brunt of any odors. As I said, the borders of Bay Ridge shift depending upon your realtor.
berkts: If you were buying a house in Bay Ridge, it will continue to appreciate. The new condos/coops were flash and trash. The older buildings converted to condos/coops often needed extensive repairs. The condos/coops that stayed the course over the years were always on Shore Road with water views.
I can't believe that Downtown Brooklyn is so "hot" right now. I'm not sure what future prices will be. I toured the area before I bought my current place in Yorkville. I was surprised at how little you got for the money, considering the area still has that commercial vibe.
My bets are on Morningside Heights for the best appreciation. I looked at Morningside Gardens, (70, 80, 90, and 100 La Salle St. plus 501 and 549 W 123 St.). Columbia is completing a lot of construction on Broadway from 125 St and up. Prices already jumped 100K in the past 2 years since the cooperative loosened their regulations on pricing and brokering through their managing agent. ( http://mhhc.coop/). Many of the apartments have terraces with great views. Look carefully at the amenities on site, the closeness to Fairway, Riverside Park improvement, and other services.
A friend of mine used to live in Bay Ridge and moved as fast as he could because of the stench coming from the Owl's Head Wastewater Treatment Plant. If I were you I would move to downtown Brooklyn.
a co worker lives in bay ridge and her commute to midtown seems to be horrible almost everyday. If you are not planning to stay maybe the condo makes more sense. This depending where downtown. You have easier access to city. Nice parks along the water front, BAM, Barclays center, food etc... That sense of community might be missing but it may just be different. On the other hand owning land in a nice neighborhood in nyc is always good.
If you have to question passing board, then you would NEVER, even remotely, be able to pass 720, 730 or 740 Park. "If you have to ask the price, then you probably can't afford it." For someone who is supposed to be an appraiser familiar with New York real estate, you are most certainly a moron. Sorry, it's a fact.
So, I asked a question like this when I was new to NY; this question is truly puzzling coming from someone who has been on SE since 2007 and is self-identified as an appraiser. Each of these buildings is its own market.
Is there so much inventory that you´re basing the decision on the building rather than the unit? There's so little on the market right now that I would think it's easier to choose the unit.
What are your requirements (beds, EIK, location) and price range? Can you pass these boards?
Very common compared to 720, 730 or 740 Park. If you can afford these, why not go for the best????
Looking at 1192 Park, 1185 Park 1165 Park and 1155 Park, any thoughts?
it is not a land lease.
Does anyone know if this is a land lease?
Great building if you like 8' ceilings, ultra-tacky, cheap "parquet" flooring, and the list goes on. Nice for poor people you can't afford the best.
Agreed. Our showroom is in Murray Hill and it's a great neighborhood. Murray Hill was recently featured in an article describing how families are scooping up properties.
240 East 35 Street New York 10016 is a beautiful and well maintained building in a great location in the wonderful Murray Hill neighborhood. The apartments and roof deck have panoramic views of the Empire State Building, the entire New York City Skyline and great East River views.