Laurel Condominium

bump. this one has fail written all over it, in dark black ink.

aboutready, could it be that those aren't quite arms-length? Or a speculator from the sticks who thinks 1st Ave. is prime UES?

i think your first guess is correct NWT. the question is why? they're not even close, wouldn't it make more sense to provide financing instead of buying units? how could it possibly be an investor? units that seem to have been sold for around $1.9m are being rented for less than $6000. and selling blocks of units won't get you far, unless you can sell alot more than this. and then you get into the 10% block, 70% owner occupied financing issues. this seems lose, lose to me. and as such bemuses me, i'd love to hear what others think.

The Scottsdale address traces (eventually) to a European real estate investment fund called Aerium. The same folks bought several apartments in the 165 Charles St. development in the West Village also done by the Laurel developers.

crescent, that's some good police work you're doing.

good luck to them. They will need it. BTW, how do they come up with their square footage numbers? Do they just think up a number and put it on the floor plan? Or do they use the views because the apts have floor to ceiling windows and they seem larger? Just thinking out loud.

We have a mystery and google. Not much motivation needed.

crescent, you may or may not be selling yourself short. I tried to do a similar search earlier in the day (another property and different searches) and I got nowhere.

I did an LLC search to pinpoint the exact address because this place in Scottsdale is some business park with many companies. That helped a lot.

crescent, yes, but the work is good. i'm still learning the corporate connecions things, and sometimes i don't even bother to try. but i pass this one quite frequently, and i've oft thought that there was something "off" here. I had noticed the connection in the sales,anyone have any supposition as to eventual price deflation?

Skippy I just looked at the floor plans - looked at the one that says around 1400 sf - nfw. My 1100sf jr 4 is just barely smaller. They are way off.

some of the developers started counting proportionate common space in the square footage. Looks like these people included the boiler room in the basement, etc.

for some real s&gs go to the SE page for Georgica, take a look at their sales history, and then pull up the photos from their grand opening party.

i really feel like i'm being viscious, but good lord, what were these developers on when they hatched this crap up?

Azure is another source of amazement. And then there's poor Isis.