Buyer and Renters Beware

What could have been a nice, luxury building is quite the nightmare. As an owner, I've bought in many new development buildings so expect a reasonable amount of holdover in terms of construction and the like. At 50 West though, it's a never ending construction project. Elevators that never come or require you to wait 10min (on a good day), poorest of the poor construction, cloudy water from all... [more]

What could have been a nice, luxury building is quite the nightmare. As an owner, I've bought in many new development buildings so expect a reasonable amount of holdover in terms of construction and the like. At 50 West though, it's a never ending construction project. Elevators that never come or require you to wait 10min (on a good day), poorest of the poor construction, cloudy water from all faucets, mystery sounds at all hours of the day and night... but best of all, the building has become a sub par rental building. Sure is great for myself as an owner. Perhaps it's the unreasonable purchase prices or the building developer would rather rent the empty units then sell them but it doesn't fare well for us owners. Hence, if you want to buy or even rent, checkout some of the newer developments unless of course you're good with a never ending construction zone, excuses after excuses and prices that just don't add up for the quality and location. [less]