301 East 50th Street #PHB
3 beds•3.5 baths•3,216 ft²
Condo in Midtown East
Listed by Douglas Elliman
7 Cornelia Street
2 beds•1 bath
Rental Unit in West Village
Luminaireаt 385 First Avenue
Condo in Gramercy Park
Has anyone checked out the units at 96 Rockwell Place? I've looked at a 2 bedroom unit there and was pretty impressed with the finishes, but thought that the common charges were unreasonably high (over $1/sq ft) for a building with few amentities. Also considering the amount of luxury condo supply coming onto the market in Downtown Brooklyn the price per sq ft also seemed too high for a building without a full time doorman and no views. I'd be interested in knowing what others think of the building.
We purchased a 1 bedroom there over the summer, before the addition had been started. We liked the layouts, outdoor space, finishes and the fact that it was right by every subway line. The common charges are on the high side in part because it is a small building with far less units than say one hanson, but it still has a gym, part time doorman and other staff. However I believe Forte has similarly high charges with many more units in the building. As far as the views go, we're on the other side of the building with views of downtown brooklyn and the brownstone neighborhoods so we thought it was nice. The 2 bedroom side does currently have views of manhattan if you look hard ;)
Thanks for sharing the factors that you considered when buying in the building. I completely agree with you on the finishes, outdoor space and proximity to the subway. On the common charges, I think that they still are on the high side for a building even compared to Forte where only a few units have charges over $0.90. Also do you know what's up with the website? All of the listings have been taken down.
Forte has a lot more units though too...here you have only 37 units sharing the costs of the building.
As for the website...i got the street easy alert about that. My guess is that either they are changing the prices and reposting them or that they are no longer the agent. If the unsold units arent back online next week, i'll shoot them an email.
It will definitely be interesting to see what's happening with the prices and/or agent.
Looks like they are all back up and at the same prices...
It seems like they are back up. As I mentioned, I looked at a 2 bedroom place there a few months ago. To date, none of the 5 2 bedroom units have sold and most of the units on floors 7-11 haven't sold either. Do you think this is due to the price per square foot ($740+) or just a slowdown in the market?
Well that's tough to say why the 2 bedrooms haven't sold - there's only a few! But of the 19 units that sold, both penthouses and much of the floors 2-6 were sold. However I don't think all units were officially released yet. Floors 7-11 all have outdoor space, and for us that was a major selling point and we wouldn't have considered one of the ones without. The 1 bedrooms were about the same size on the lower floors but had different kitchen layout and had higher ceilings.
The offering plan went into effect when the building hit the halfway in contract mark which was early fall I believe. I certainly can't speak as an expert or anything, but I'd imagine there has been a slowdown in the market with a lot of new construction.
As far as the price per square foot on the 2 bedrooms, I can't really say since we were really only looking at one bedrooms - but we did compare say forte and one hanson at the time and they were similar, if not more per sq foot. Just taking a look, one hanson has a 2 bedroom left that's posted for 899K at 965 sq ft ($931 per sq ft) with cc of $830 and $199 taxes vs Rockwell's cheapest posted 1 bedroom that $870K at 1166 sq ft ($746 per sq ft) with cc of $1186 and taxes at $39.
I guess if you look at non new constuction it's a completely different ballgame though and i'd assume all new constuction is higher per sq foot than existing.
btw - i meant vs rockwell's cheapest posted 2 bedroom
Gorgeous building but the problem is that the city is building a gigantic tower directly across the street (on an existing building) and that BAM is expanding so this will be a construction area for many years.
fulana, are you referring to across rockwell or across flatbush?
I believe fulana is referring to the site across rockwell where a larger tower is planned. These are great condos, but they definitely seem to be moving quite slowly. Plus I think there is a partial stop work order in effect at the site. I'm very surprised to see that the prices have not been lowered, but I'm sure the amendment is coming.
It reached the half sold point this fall (went on sale in the spring), I wouldn't say that's "moving quite slowly" considering the current state of the market...
Agreed, the 1 bedrooms and studios sold pretty quickly during the summer and fall, but the units on floors 7-11 have definitely not moved as fast. Because these units are larger and more expensive, less than 50% of the common interest has been sold. Considering the current market and the targeted completion date of this spring, it's surprising that price cuts for these units haven't been announced. I think it's in wise for anyone who's interested in a unit on those floors to wait until closings start in March/April and when the sponsor will be more motivated to negotiate.
I've set up a private yahoo group for Rockwell buyers to discuss the building: http://groups.yahoo.com/group/Rockwell_Place/
Any update on when the building expects to begin closings? Also curious if anyone has any thoughts on why the sales pace has slowed so much over the past few months.
They sent us letters saying they expect to have an open house/party (?) for the model unit soon and that closings would begin this summer.
As far as sales pace, it's probably a number of factors like market uncertainty, overall nyc sales slowdown, lack of advertising now, plus the fact that the building is a bit behind schedule so people on the fence could be waiting. Just some guesses. I don't know how much traffic the sales office has had recently to know if people are coming and just not signing or they are just not coming.
Any news on the date for the open house/party for the model unit? Also I noticed that they just lowered the listing price for an apartment in the building. Do you think this is sign of more price cuts in the future?
I haven't heard anything new about the model unit, though there's been a bit of progress in the past month.
As far as the price cut, it was only 5K or 1% off so it wasn't much. Not sure the logic other than to show some activity or what the future holds for other units.
interesting graphic on brownstoner this morning referring to Real Deal's article.. Ft Greene is one of the few in the "green" showing more price increases than decreases.
the full article: http://ny.therealdeal.com/articles/condos-on-the-chopping-block
The model unit is now ready and it looks great. Finishes, appliances, floors, hardware, etc all look very nice. Street noise on flatbush was completely non-existent with the windows closed, even on the 3rd floor. The sales office was pretty busy today with both people already in contract wanting to see the model as well as prospective buyers.
Thanks for the update on the model unit. I take it that it's on the Flatbush side; is it a studio or 1 bedroom? Also was there any update on when the building will receive its TCO?
Commons way too high.
Yes, it is a 1 bedroom on the flatbush side. They are trying to finish up a number of units by end july, followed up by inspections and TCO.
Yes, commons are on the high side but part of that is because it's a much smaller building than the neighboring new devs like forte, hanson, oro, etc. Only 37 vs a couple hundred plus.
Cletus - just for a common charge reference, a unit at forte that sold for the same price as the one I purchased at rockwell has about the same/slighly higher common charges, but higher than hanson and oro.
Forte actually reduced their common charges a few months back and now most of the common charges are between $0.70 and $0.87 psf versus Rockwell where the majority of the remaining units all have common charges over $1.00 psf. This has been one of the major factors that has kept me from purchasing a unit in this building. I like the boutique feel of the building, but these are extremely high for a building in Downtown Brooklyn with limited amenities. With common charges like this, I think that the price per square foot for the remaining units is definitely out of whack with the rest of the market. Also has anyone heard anymore news about the new BAM tower that is scheduled to be built across from the Rockwell side? I'm interested in a 2 bedroom on that side but am concerned about the potentially obstructed views.
Haven't heard anything new about that tower and no work is being done. Same goes for the other BAM lots by the building. As I mentioned, we bought on the flatbush side knowing there was a hotel or condo being built that was alter our views. It was something we definitely considered..but this is NYC and very few views are protected.
I definitely do agree that the cc's are on the high side. For us, it still kept the unit in our monthly affordability and wasn't enough of a deterrant. But as far as the price per sq foot goes, we just thought the building and the unit we chose had more going for it than the others, for our taste.
You've done your research and I certainly don't want this to come across like a sales pitch, but the main reasons we chose:
- Location: Right near every subway line without being "in the transit hub." Thought the location was far superior to Oro & Belltel in Downtown BK. Also, since it is on the edge of Ft Greene, it's very close to the other prime neighborhoods.
- Kitchen: Love the finishes and use of space. We're not a fan of the laquer cabinets in hanson and forte or the cheaper appliances in Forte and Oro.
- Layout: Very open and all usable space in our unit. Structural column also breaks up the living and dining spaces. When we looked at 1 bedrooms, all of the others (exception belltel) were very similar to our current rental and we didn't see where the extra sq footage was really going. Belltel's layouts were "different" but we had other reasons against the building.
- Outdoor space:
- No playroom and very few 2 bedrooms (no offense). We currently rent in a BPC building with more babies and strollers than you could imagine.
btw - have you had a chance to go back and check out the model?
Haven't checked out the model yet, but it's on my to do list. Thanks for sharing what drew you to the building.
First units are expected to be completed end july/aug and then they'll have the inspections for the TCO. The building is 59% sold (not including the 1 lower income unit). The model looked excellent. Haven't heard anything on the BAM construction either or if there is price flexibility.
does anybody know why prices between forte and rockwell are so different?
If I had to guess..finishes and layouts? Personally disliked the finishes a lot. They also just had major price cuts possibly due to the lack of sales - thought i just read that they were only at 30% or 30 units sold or something.
Rockwell and Hanson prices are on par with each other and both have nicer finishes.
Any update on when closings are expected to begin?
Have closings started yet?
This is still a construction site. Slowest construction project ever! Well, maybe second to the new LIRR terminal in Brooklyn.
This building is a nightmare... The the apartments are well laid out and the building staff are friendly, but that is pretty much the end of the positives. Construction had completely stalled out, though work has now resumed and residents now face a seemingly endless stream of construction workers tying up the elevator and trashing the lobby as they try to finish upper floors. The exercise equipment that was supposedly ordered in the fall for the workout room that was scheduled to be completed in August is still nowhere to be found. Residents have constant issues with AC/heating units that leak, cannot be controlled, or on at least one occasion rupture flooding several units. The management company responsible for operating the building is the most visible liability however. The company ignores the requests of residents to complete repairs, (even after the flood incident) refuses to return phone calls, and seems generally incapable of even simple tasks such as notifying residents of the status of construction or of impending water outages in a timely manner. To top it off packages have been stolen from the door of residents during recent construction... In general the building is not currently a very pleasant place to live, and with the recent completion of several other buildings with much better amenities at a comparable or lesser price 96 Rockwell looks much less appealing.
We just visited 96 Rockwell a couple weeks ago, and there does seem to be an astonishing lack of attention. They had an open house but no agent to show us around, and basically left people to wander around the various units which were still in deep construction. We posted photos on: http://www.flatbushriviera.com/2010/09/11/new-development-96-rockwell/
Hello, I recently saw a 1 BR in Rockwell Place and as others have mentioned - I like the layout, the use of space and finishes. However, I am concerned about the high common charges.
I'm curious if the problems that bkftgrn listed above have continued? Or, has the building management become more responsive and addressed the AC/Heating, flooding, etc.?
Anyone recently revisited Rockwell, looks like the last comment is 9 weeks ago. Anyone currently living in the building?
About 7 apartments have been sold on the lower floors over a year ago. I assume the buyers are all living there.
Anything going in the building? Are people concerned about the BAM developments across from the 2BR side? Or are the newer constructions going to be mostly low rises.
Plus the BAM site mentions Mixed-income housing construction just across the street. What does that mean?
People living in the building living good?
It looks like on their website lists several units now either contract out or in contract. Anyone who is one of those ppl care to share their experience and if they are near signing (or have signed)? How is working with their preferred lender?
A warning for anyone thinking of buying in this building. We're an owner here since late 2009. I do not recommend buying in this building.
The building isn't finished and the craftsmanship is shoddy at best. The sponsors are not responsive to fixing persistent building issues due to this shoddy craftsmanship. If you're currently in contract, DO NOT under any circumstances close until they've attended to every single one of the items on your punch list. Otherwise once they take your money you will never get a response again. I also recommend getting your own inspection done before closing.
Windows don't work properly. Heating systems have been installed improperly. Air Conditioning doesn't function correctly. Some air conditioning units are not drained properly and just leak into ceilings or other peoples units.
Units have brand new refrigerators that don't function properly and are dented. People have suffered water damage due to building leaks that haven't been fixed. Wood floors are buckling from what I presume is improper installation.
The sponsor even goes so far as not identifying himself as the sponsor but rather a representative of the sponsor when showing a unit himself.
I don't want people to not buy here because it would help me to have more people in the building, but I don't want people to be hoodwinked. DO NOT BUY!!! If you're in contract... Lawyer up!
FortGreener, were any of these items discovered at your walk through? If so, was the sponsor unresponsive in attending your punch list? Has anything been attended to that you were satified. This sounds distressing since you are a current resident and willing to blast your own building in such a manner. The sponsor has to understand that they have unhappy residents. Is there a condo board that can be formed to address issues?
FortGreener - can you clarify? We are considering a unit in the building (in the extension on top) and wondering if the same issues you suggest re: A/C leaking, floors buckling, etc. are in that sectin of the building or just the original part (floors 2-6). Also, we've found the sponsor to be somewhat unresponsive on questions...is that your experience as well?
Finally, I'd heard at some point that most of the 2BRs had been sold in the extension, but I live in the neighborhood and haven't seen any signs of life on those balconies. Do you know whether the sponsor is full or it or if there are problems with those units?
Everything I mentioned above still applies. Problems with AC and heat have not been a problem in the new portion but people have lived up there for only 3 months. I know one person has a defective refrigerator, and many of their punch list items have not been attended to. The AC started leaking with in 2 weeks of our living there. It's leaked at the beginning of every summer since and now it just doesn't work. It took me 2 years and lawyers to have my list dealt with and I'm still without working heat. All my punch list items were fixed POORLY by 1 of 2 previous supers, not licensed contractors. Right now buckling floors are only in 2 - 6 but that didn't start to happen to people until after living in the building for a while. The facade's aren't finished because last summer, after they ran out of stone, and they just simply stopped work. They didn't order more to finish.
I also know that there are several units up there that have been in contract for months and no one's been able to close. I can't answer as to why that is. I told one couple who's in contract up there to absolutely not sign on the dotted line until every single punch list item is dealt with. Otherwise you'll sign over your big fat check and no one will ever attend to them.
The Sponsor is completely unresponsive. I'm pretty sure they don't pay their contractors and for that reason things have not been done well. Currently, and unfortunately, the sponsor IS the condo board. And none of the issues should be the responsibility of the condo board anyway. They are issues of either incomplete or improper construction. Only the sponsor should be liable for these issues.
Thanks FortGreener, that's really helpful and good info.
FortGreener - Are the tenants communicating with eachother on all the items they found wrong with the units? Is it even possible to get an independent contractor in to take a look at everything and the tenants as a whole can go back with a official list of things that are wrong with each unit?
Is construction still going on in the building? Notice anything with delays in elevator or excessive noise levels?
It is very odd that you own and is posting this to deter others from purchasing in the building, would that not affect your own property value? or even your ability to sell yours when the time comes?
Yes we are communicating...
There are 5 original owners that have been in the building just shy of 2 years. There are/have been numerous problems with the building.
Problem #1: When things don't/aren't getting taken care of in the building, you go to the condo board.
Problem #2: Currently, the sponsor is the Condo board.
Problem #3: We looked into getting an engineer in to inspect the building. Estimates are in the range of $10,000 - $18,000 which we have to front. We don't have that kind dough to front on top of legal fees we're currently paying.
Problem #4: The problems we have are due to improper/incomplete construction. The condo boards proper response would be to go after the sponsor to fix it.
Problem #5: refer to Problem #2.
It's not odd really that I'm deterring others from purchasing. When the Sponsor/developer takes your money, then doesn't deliver a complete and new apartment as contracted and willfully ignores all pleas to just "do the right thing"... I decide that I'm going to make sure they have difficulty making anymore money.
FortGreener - is there a way I can contact you offline about something related to this building? I don't want to post publicly but I think you may be interested.
@FortGreener & @FtG2000 - I'd love to be part of the convo as well. Haven't commented here, but I'm in contract in the building and would love to have a better sense of what the closing/post-closing might look like.
According to an inspector who looked at one of the units, the interior of the new construction units are in really good shape and about 90% of the building is fine (roof, facades, etc.). The concern he had was that the balconies seem to have issues with drainage. The unit he inspected had a balcony that wasn't draining well, with water pooling. He noticed the balcony above also showed signs of water damage. His point to us was that it's easily fixable by just re-pouring the concrete and increasing the slope so the water drains off better. But given what I've read here - namely that the sponsor doesn't do even minor repairs as promised - his findings were big concern.
There are 12 balconies (not including the penthouse apartment) that could potentially need repair. That's going to have to either a) be paid for by the sponsor/Board now or b) be paid for by the condo down the road. Because it's due to shoddy construction, any and all repairs should presumably come out of the sponsor's pocket. His reluctance could mean a lawsuit against him, which is expensive, particularly for a Board that is new and may not have built up a big reserve fund.
The reason I brought it up to FortGreener is that he/she indicated he/she is in the older section of the building. I've seen this sort of thing cause a battle because they don't care about the balconies in the extension while the newer owners will. So you're looking at the possibility of an internal argument over whether to litigate/repair as well as a potential battle with the sponsor once he steps down from the Board after the units are all sold.
Anyone with questions can email me @ email@example.com
I am in contract in the building. I had an engineering inspection of our unit, and the common utility stuff on the roof. Our inspector found everything in good condition.
It's true the sponsor is doing almost no work on units are have no TCO and/or contract yet. But I understand from their perspective, there is no point in doing anything until the unit can legally close. Why bother putting the finishing touches on a place that isn't sold, since a potential new owner may want to gut it anyway.
As for places that have sold, yeah it would be bad if they aren't fixing things on your punch list. Not sure what you do there. Best not to sign until everything is fixed.
I have been looking at the two bedroom units on floors 9 and 11. After reading all these comments I am very concerned--I like the area and I like the layout of the units, but I'm beginning to think Rockwell Place might not be worthwhile. Does anyone have any opinions or input on the two bedroom units on the upper floors?
We were very close to buying 9C, but couldn't get comfortable. Some of that might be the fault of the broker, who was very unresponsive to questions. We also had problems with the sponsor's reluctance to negotiate on things and meet somewhere in the middle. In the end we kept jumping through hoops trying to get the sponsor to take our money, but he didn't seem particularly interested in taking it. So we walked.
I'll note that we were also going to be moving in with a brand new baby and couldn't risk having things half-done or needing repairs because having people painting or working on drywall would be super-inconvenient. You may not have the same concerns.
That said, the units are very nice and it's too bad that we couldn't work it out. I think that if you want a good location and are willing to fight a bit for the little things, or if you aren't worried about every little thing being perfect, it's a good purchase.
I was looking at the 2brs also and am concerned. What kind of little things or issues ftg2000? I also think the broker for the seller is not very responsive.
This building is ridiculous. I saw these units in 2008 and was in contract to buy mid 2008. I was told the units would TCO with one month of closing. Luckily they took so long that legally they had to return the money. I can't beleive its now over 3 yrs later and the building is still not close to done.
@CandaceChandler - mostly cosmetic things, frankly. But we had our inspector go through and they didn't have 2 of the 3 heating/AC units installed, the microwave wasn't in, and the shower in the master bathroom wasn't hooked up. I know that it's not unusual for final things to be installed after the unit is in contract, but the unit really felt half-done. And given the complaints on this message board and elsewhere, which I'd brought to the broker's attention, I hoped that they'd have made more of an effort.
But also lots of little nicks on windows, floors and around the outlets which should be easily dealt with, but with the sponsor seeming like he couldn't care less about helping, we didn't want to rely on his word. And see my comment above about the balconies, which was our biggest concern.
FtG2000, I just saw the two bedrms and am considering putting in an offer. I had a few questions about those units that it sounds like you might be able to answer. Any chance you could shoot me an email at firstname.lastname@example.org?
going to try to post here.
I closed on a two-bedroom at 96 Rockwell Place on September 1st 2011 after giving the building a second look, having looked at it a few years back when I started shopping for a condo in the area. i decided to buy right away this time around, and although it took a few months for the developer to finish construction on my unit, which was an inconvenience, I have been very happy overall with the quality of my unit, the condominium itself and the building. I originally had many concerns with the building and my unit. After hearing some horror stories from friends who have recently purchased condos, I was also nervous with regards to what would occur after closing with my punch list. I have to say however that the developer has honored every punch list item. I did not have locks on my windows, a few of my floor boards were scratched up, my terrace wood was not installed, and my balcony needed minor repairs. I am happy to report that the window locks were ordered and installed on time, my wood floor boards were replaced, and my balcony has been repaired. The apartment itself is awesome. 10 ft ceilings, two large bathrooms, good size bedrooms, and a huge living room and dining area for a great price in a great location. The staff has been very proactive and helpful. Giovanni is the super and he is very responsive. Management is always available (I have been dealing with Danielle). I have read some reviews of people who are concerned about punch list items and developers responsiveness to owners needs. My experience has been that my concerns have been addressed right away, including a plumbing issue I encountered shortly after moving in. The issues with the balconies that people have mentioned are currently being addressed, my unit having been one of the first to undergo the repairs. I was initially very nervous about closing and proceeding forward. I’m glad I closed. I am very happy with my apartment, the building, and the burgeoning area. BAM is building a new theater and they are expanding the Strand theater. The mall is very close by, along with Smith Street, Lafayette and Dekalb aves, and having the 4,5,6,Q, R, N, and B trains a block away really is a huge convenience. From an economic perspective the units are priced right, I lived at Oro (306 gold street) for two years and had done my research when looking for a larger space. I was not able to find anything new construction that was comparable with the size and finishes in this location priced this cheap. The neighbors in the building have been very nice and friendly. I hope that sharing my experience helps you, if you have any further questions or concerns let me know.
I was wondering if the sponsor is still unresponsive and the whether the lower floors are still having significant issues.
Thanks for any information.
I was seriously considering 96 Rockwell until I came across this very latest update on upcoming developments in the empty lots right across on Rockwell place. Click on the link below and watch the downtown brooklyn video. Pay close attention about 01:11 minutes into the video where the tiny 96 rockwell place condo appears with gigantic towers popping all around it!
Residents (especially 2 beds) are soon going to be plagued with construction pollution and will be left with NO commanding views of the city or 1 Hanson to enjoy (unless they like to stare right at buildings right in front of them across an already very narrow street)! I don't think the high purchase price and exorbitant CC's (for pretty much no amenities) is worth it anymore!!
I think that video is 5 years old, showing what the initiative expected Downtown Brooklyn to look like in 2012. Notice the old Gehry rendering for the arena and the inclusion of the visual arts library, both of which have been scrapped long ago.
Plans for the residential towers across the street from Rockwell, as per the original BAM cultural district plan, have gotten nowhere. Parking lots across the street are always a risk in terms of what future development might bring, but it's not yet clear what's going to happen to those lots.
There is a tower going up next to Rockwell Place, but it's positioned in a way that doesn't obstruct the buildings views of the city, which, by the way, are cute but nothing spectacular.
Oh, the cultural district is now proceeding in full swing, starting with the south-side which will block the current one hanson place views. Here's a December 2011 updated link:
I think some of the developments is great(such as theater for new audience and fisher building) because it will not only add charm but is at low elevations (max 5 to 6 floors). But the mixed residential towers that will come up soon will certainly change the views completely at least for those facing the empty lots. I think one of the major selling points of rockwell place is the views, which will not last, unfortunatley!
Development is a great thing and only adds to neighborhood! Imagine buying in Greenwich Village in a boutique building--prior to all the construction--prior to the Richard Meier towers. Your investment in 96 Rockwell and in the neighborhood will only grow if the area around you does. Also, plans can sometimes change, for example the tower set for the top of the theater has been cancelled.
@MNS: Said like a true agent managing sales for the building. The building right opposite, 95 Rockwell, is up for sale and can become a tall hotel or a dorm, as air rights can be bought per their ad: http://www.cpexre.com/system/assets/properties/documents/295/original/95%20Rockwell%20Place%20-%20Setup.pdf?1319570988
Can the developer guarantee that the views will be preserved from higher floors facing rockwell place? I don't think so since the developer did not buy air rights.
Also, there is a 44 floor rental tower well under way on the northern corner of the block which will compromise the majority of views especially for anyone falling for the penthouse unit...
Agree that development is great, but such high asking prices do not make sense when you are caught in the middle of all the skyscrapers that will soon consume any open skies & sunlight..
Is it settled that a tower will not be going on top of the theatre or has the building of the tower just been delayed?
Either way, even without a tower on top of the theatre, this little condo is going to be completely surrounded by huge buildings that block out all the sun and views, as JB32 points out. http://www.dbpartnership.org/utils/imgshow.aspx?id=216
Not to mention that this 52 story monstrosity will be also be shadowing the building, and flooding the market with increased supply of apartments, driving values down. http://online.wsj.com/article_email/SB10001424052970204883304577219523468578712-lMyQjAxMTAyMDEwMzExNDMyWj.html?mod=wsj_share_email_bot
just as we thought...here comes the gigantic 327 unit, 40 story tower, construction nightmare consuming 96 Rockwell and goodbye views! http://www.brownstoner.com/blog/2012/03/dermots-bam-area-tower-to-start-rising-very-soon/
Can somebody who owns 2 bed here or is in contract provide breakdown of the very high common charges? To pay over $1000 / month for pretty much no amenities is insane even if it is a 37 unit condo and may be gas is included which is peanuts! (gym is a closet, bike room ok, no storage, only part-time doorman, no other amenities)
Agree 100% with concerns raised by Ftg200 and Fortgreener. Things are still in a bad shape. Balconies need repair. The penthouse is a stalled construction site and will be a nuisance to those considering 10th and 11th floors. Watch for seepage and leaks from poor construction of higher floor extensions and work pending on penthouse, especially since the unfinished penthouse terrace is in a very bad shape and is right above the living spaces of the 11th floor units, which means leaks and cracks will appear soon per the inspector. Notice the front of the building (both flatbush and rockwell) remains unfinished as they ran out of money and construction material. The PTAC units malfunction often. The gym is not a gym. It is more like a claustrophobic workout storage room. My lawyer and inspector raised even more concerns that swayed me away from signing the contract. I was there with an architect friend of mine who thought the floor plan per the offering plan was not even close to the actual. Those who have signed contract or contract out better find a way to get out of it soon using contingencies. DO NOT BUY HERE.
Not surprised with all the issues there...indoor and outdoor.
JB32,Jonsmith, and NRBK..... All I can say is LOL.
FYI- the ship has left the port. All of the 2 bedroom apartments are spoken for. They are closing this month. Rockwell was never about the views. It's a 12 story building. Your argument doesnt make any sense. If you want views buy in Toren or ORO (40 stories). The flood of condos that you speak of from the dermont group are rental units. There are no condos available in this market. Supply is very limited. The building did not run out of money. The financials are good and the building actually has a fund surplus. Not sure where your gossip is coming from. My PTEC unit has been working great since day one. The board is discussing lowering the common charges shortly. As for the flatbush and rockwell side of the building not being complete i agree it looks ugly. the good news is that a retail tenant is coming very soon. this is a crazy hot residential and commercial market. Look at Billyburg in 2010, people were predicting doomsday and now its the hottest hood in NYC. I live in the buidling and have no issues with poor construction, flooding, plumbing, etc. Lived in the unit for almost a year.I cannot wait for Theater for a new Audience and the new Dermont building. I also cant wait for the Steiner Studios development across flatbush (50 stories, also rental). this is going to bring good people and retail to this area. you missed out. Dont be mad. The prices for units in this building went for a bargain compared to other developments.
Dont you wish you lived in the center of it all? BAM is awesome guys! Having 12 subway lines and being a stop away from the city is great.
Perhaps your looking for open fields. Oklahoma is big sky country. Brooklyn is not.
the the bitterness....
I wish you all well. I hope you all find what your looking for.
FortGreenLove...All I can say is GOOD LUCK!
You have been there for a year in a unit which probably is not affected...or you want to make it sound like it is not affected even though a majority of the comments in this discussion is about issues and frustration associated with this building.
Also, if you are completely satisfied and have been there for a year, what are you still doing here in this discussion??? Sounds like you are trying to justify very hard for something you shouldn't have to...(not getting any sleep?)
The units that had inspection issues mentioned in my comment earlier are the higher floor 2 bed units which clearly are different from your unit coz the top floor weren't even ready then (still is not), so good luck to those buyers closing on it now.
Finally, I don't care if THIS particular ship has left the port. In fact, I actually walked away from it and am only warning others based on experience! There are many condos available, but yes, not as cheap as Rockwell clearly because the ones now available in the market are of much superior quality!
I've been trying to close on a 2-bedroom unit here for months. Every day there's a new delay, and the agent involved is doing a good job of keeping in the dark about the cause. I can't tell if the agent is slow and disorganized or it there are other reasons. I can't even get in to do a punch list. Has anyone else had this problem?
@rck1960: There is definitely something seriously wrong if they are causing delays for your closing. I wish you had checked the discussion here before signing contract as this development is plagued with issues and agents have not been very candid about it. Have you engaged your lawyer? I hope you have mortgage contingency to quickly get out of this mess and look elsewhere...
Well...here's to those who did not anticipate the tragedy of buying at this building! Just as expected, the building right opposite (95 rockwell) got sold recently to make room for a 30+ story hotel that will inevitably dwarf 96 Rockwell leaving pretty much no light entering the unit across the already narrow street as well as no open skies (especially when BAM builds the other tall towers on the parking lots to its left and in front of one hanson)...
....and I hear 96 Rockwell STILL has issues getting tax abatement approved so the current residents are paying unabated high monthly taxes along with the already very high monthly CC!! What a disaster! I feel for the residents who took a leap of faith buying here....
The location also seems to lack the small town feel of the brownstone parrs of Fort Greene
Residents of 96 Rockwell: I'm thinking about buying into the building...how is it like living here now?
The sponsor hasn't been paying its CCs for the unsold units. In March the condo filed liens of CCs for the nine that were unsold then. 5D sold in June. The condo is now suing the sponsor, trying to foreclosure against the eight for the CCs.
These must be real deals for the neighborhood, right?
Oops, 5D sold in April. Its lien release was in June.
Fort Greene condo board sues over missing CofO
Four years on, developers lack final approval
August 28, 2013 04:00PM
The board of a boutique condominium building in Fort Greene has accused the developers, led by investor Joshua Landau, of failing to obtain a proper certificate of occupancy, despite completing the project in 2009.
The 96 Rockwell Place board asked a New York State Supreme Court judge for an injunction in a lawsuit filed Saturday, claiming a temporary certificate of occupancy expired in July with no permanent approval in place. The expiration, the board claimed, threatened to wreak financial havoc on the building’s homeowners.
“The lapsed TCO has all but halted the ability of the condominium’s residents to sell, refinance, [or] obtain homeowner’s insurance,” Wolf Haldenstein attorney Jared Paioff, who represents the plaintiffs, said in a court filing, “but even worse, may have caused many unit owners to default on their mortgages.”
Landau, of Manhattan-based Integrated Capital and Eric Derector, of Manhattan-based Quest Builders Group, converted the 103-year-old former piano factory in 2007 into a condo with 37 residential units and one commercial unit. The condo offering had a projected sellout value of $24.5 million, and the developers closed on the first sale in 2009, according to court documents.
“The sponsor’s interest is, and always has been aligned with the condominium board,” Landau said in an email. “The Department of Buildings has granted numerous TCOs in the past for the premises and we are working diligently to resolve any additional requirements they may have. We expect the matter to be resolved as soon as possible.”
Derector did not return calls. A Department of Buildings spokesperson did not return calls.
In July, New York Attorney General Eric Schneiderman ordered the developers to offer to rescind buyers’ contracts after the condo board lodged several construction- and financing-related complaints on behalf of unit owners.
Owners claimed that the developers owed them $61,000 in unpaid common charges and had misrepresented the total owed in a filing with the AG, according to documents filed with the regulator. They also accused the developers of failing to finish construction on storage units, four years after some residents paid for the units and moved in to the building. Lastly, the developers allegedly misspent about $37,000 of common charges on expenses they should have covered independently.
However, Landau denied that claim and said that the developers were using proceeds from condo sales to repay the outstanding common charges.
The condo is selling a penthouse as a “white box” — a raw unit, where the buyer provides appliances and other finishes. A 1,932-square-foot penthouse asking $1.4 million went into contract in March, StreetEasy shows.
In a separate lawsuit, an individual who loaned the developers $500,000 claimed in December 2012 that they had defaulted. However, the developers asserted that they partially paid her back and disputed the amount claimed. The case is currently in discovery, or the exchange of evidence and documents. The lender’s lawyer was overseas and could not immediately provide comment.
Very Good! This condo deserves to be in this hole despite many early warnings gone unheeded!!
And of course all of this assumes these prices are justified at all in the nabe of Downtown Brooklyn.
We rent at the Brooklyner--a truly fine building by the way that I recommend without heartily--but we will be buying in Brooklyn or in Forest Hills this winter, depending on what we can find.
We have ruled out Downtown Brooklyn condos, no matter what the market. I think a lot of people would too if they lived here for a few months before buying. And Rockwell Place is in a distinctly worse location, in my opinion, than the Brooklyner. They don't have all our Metrotech BID security guards, or a nice restaurant (La Defense) we can access without leaving the view of video cameras.
All the rental buildings going up mean if you ever want to rent your condo, the competition is going to be stiff. It's very unclear to me that so many people will really want to rent in this area, but if they do, they want amenities. In our building I mostly meet people who are here temporarily, singles or couples with small children only; we see few school age kids. (In fact, we are two of the oldest people in the whole place.)
But finally the noise and the intensity have just gotten to me, not to mention the endless, endless, endless trash and etc. Metrotech is a lovely park and I feel safe there even at night, they have walking around security and cameras everywhere, but it doesn't compensate for the Fulton Mall congestion and noise and the, um, colorful street life I sometimes see in the early morning when walking the pups, or at night.
I walk the dogs to Fort Greene park and to DUMBO and to the Brooklyn Promenade, and to Cobble Hill, and yes it's great to be at the nexus of such interesting places. The gourmet shopping is great around here. But too often the home coming does not feel so good.
I would suggest that people get a room at the Sheraton or W for a few nights before spending the big bucks, as part of their due diligence.
Sorry, I meant I heartily recommend the Brooklyner.