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why was this building not able to condominiumize?
How do you know this and where can I find out? I'm part of the 15% purchasers needed in order to condomniumize and have not heard anything.
Hello there! Does any of you have news on this building? It has been a LONG time for them to get an approval from the attorney general. Is there any problem that buyers should know? Thank you for shedding some light on this and much appreciated your information!!!
Lost ball high weeds....
Any updates, guys?
Just heard that the approval is probably going to be delayed till October...
I have been waiting for the approval too! Seems like not so many people here are interested in this building...
I am buying too and just wondering if I can close in time before the end of the year to get that 8000 dolllars tax credit...anyone has news?? PLEASE SHARE! thanks!!
Same here!! i bought a unit there and heard nothing! Isn't there an expiration date on the contract that states if the seller can't close we'll get our deposit back? Anyone know how many years that is?
By the way, anyone care to share their $/sq ft they bought it for?
I am in at $1,007 psf for a 4th floor studio. I took the fully renovated option instead of the credit for as-is. Trying to decide whether or not to walk at closing if in fact the plan does get approved. Would prefer to get my deposit back. Anyone heard any news?
BangOlufsen if you make enough to buy in this building then you make to much to get tax credit
The plan is tied up at the Attorney General office,dont count on conversion any time soon and JBH how did you get them to 1007 psf they want 1800 psf for mine on 11 floor
I want my tax credit too!!! lol...didn't know there is a restriction on how much you make. anyway, thanks chris! The price differs b/c the 4,5,6F studio/apts have lower end appliances and materials. Also some of the one-bed apts have irregular shaped bedrooms. But still, for 500k-550k, it is a great deal~~ Thanks for sharing everyone!!! I am really tired of waiting for this approval too!!
I lived in a larger unit in the building but could not afford to buy the one I rented. They let me apply the $500K resident credit towards any unit, so I picked a much smaller unit. "Outsider" asking price of $930K (which is ludicrious), but I have under contract for $430K after applying the credit. I am still not sure if it is a good deal now or not....
$1000psf... you can do GREAT GREAT trades at $1000psf... didn't anyone get the memo, $700psf is the new $1000psf... ( on a 1000 sq ft apt... just a matter of $300K)... but if you make $1MM, what's another $300K? -shrug-
look for a typo on the dates if the offering plan was done by Stroock... it's seems like that's how all the COOL kids are getting out of the condo contracts.... keep it on the down low... its a secret..
Should we try to get out of the contract? I think you did really well, JBH~ 430k for the studio at this location?? you can get back your investment under 15 yrs. Just rent it out~
operagirl.. you got nothing to lose by gaining more information... go put crazy lowball bids on comparable apt for $50K (whatever floats your boat) lower and see if anyone bites... then you can make the comparison "real." Good luck, just think w/ market falling so quickly what might've felt like a bargain ceases to be so.. ask the rushmories....
They are now trying to rent lots of apts - not sure it is 20% or more of the total apts in the building. They are trying to be as subtle about it as possible - only 1 public listing (for rental) with the address, but lots of ads on craigslist.
hmm...thank you guys...now i should really RE-evaluate this investment. Did anyone get their deposits back? I really LOVE the location but I just got really worried that something must be wrong as the approval is taking so long to get!! Thanks, ZBE, i will check out craigslist. sneaky milford!