condo units coming out of the shadows, number 5 bldg
Started by aboutready
about 17 years ago
Posts: 16354
Member since: Oct 2007
Discussion about
Earlier I noted the Clement Clarke, now open houses listed for apartments listed as being in contract at the Number 5 Building. Building: Number 5 at 5 East 44th Street in Midtown SAVE Active Listings (13) $3,100,000 5 East 44th Street #PH 2 beds 2,708 ft² Open House: Fri, Jun 05 (6:00 - 8:00) $1,650,000 5 East 44th Street #14 2 beds 1,416 ft² $1,570,000 5 East 44th Street #9 2 beds 1,416 ft²... [more]
Earlier I noted the Clement Clarke, now open houses listed for apartments listed as being in contract at the Number 5 Building.
Building: Number 5 at 5 East 44th Street in Midtown
SAVE Active Listings (13)
↓ $3,100,000 5 East 44th Street #PH 2 beds 2,708 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
$1,650,000 5 East 44th Street #14 2 beds 1,416 ft²
↓ $1,570,000 5 East 44th Street #9 2 beds 1,416 ft²
$1,570,000 5 East 44th Street #19 2 beds 1,277 ft²
↓ $1,550,000 5 East 44th Street #8 2 beds 1,416 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
$1,545,000 5 East 44th Street #18 2 beds 1,277 ft²
↓ $1,520,000 5 East 44th Street #17 2 beds 1,277 ft²
$1,495,000 5 East 44th Street #15 2 beds 876 ft²
↓ $1,495,000 5 East 44th Street #16 2 beds 1,277 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
↓ $1,075,000 5 East 44th Street #6A 1 bed 876 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
↓ $1,050,000 5 East 44th Street #5A 1 bed 876 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
↓ $725,000 5 East 44th Street #6B 1 bed 629 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
↓ $595,000 5 East 44th Street #2B 519 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
SAVE Listings in Contract (10)
$2,250,000 5 East 44th Street #7 2 beds 1,687 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
$1,925,000 5 East 44th Street #10 2 beds 1,416 ft²
$1,840,000 5 East 44th Street #11 2 beds 1,416 ft²
$1,675,000 5 East 44th Street #12 1 bed 876 ft²
$1,195,000 5 East 44th Street #4A 1 bed 876 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
$1,170,000 5 East 44th Street #3A 1 bed 876 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
↓ $1,095,000 5 East 44th Street #2A 1 bed 876 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
$835,000 5 East 44th Street #5B 1 bed 629 ft²
$820,000 5 East 44th Street #4B 1 bed 629 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
$775,000 5 East 44th Street #3B 1 bed 629 ft²
Open House: Fri, Jun 05 (6:00 - 8:00)
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Response by lr10021
about 17 years ago
Posts: 175
Member since: May 2007
AR - as I posted earlier, this is the real story that the real deal should have run. Not the story about empty buildings as an empty building doesn't cause half as much issues as one that is partially occupied. I think that brokers should STOP labeling listings that are not in contract as in contract. Once the truth comes out...this story breaks.
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Response by aboutready
about 17 years ago
Posts: 16354
Member since: Oct 2007
lr10021, yes, for many buildings the "shadow" inventory is hard to discern. but it's becoming much easier. if one looks at buildings that have begun closings, such as the Brompton and the Rushmore, it's not to difficult to see where they are floor-wise. some of those in contract but not showing up in closings may be still be trying to get a mortgage, or just not showing up in ACRIS yet, but at a certain point the lack of closings becomes clear. off the top of my head I can think of a number of buildings that are at that point now.
take a look at this shit show. have been closing units for about 6 months. have closed roughly 34 units out of 129. 11 units as rentals. how can a bank possibly justify giving somebody a loan here? they can't.
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Response by InFamous
about 17 years ago
Posts: 221
Member since: Jun 2009
1,800 dollar per square foot. These buyers must be out of their mind.
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Response by lr10021
about 17 years ago
Posts: 175
Member since: May 2007
come on, smack some limestone on a building and you can ask whatever you want. didn't you know that? I really question why in the world they expected to sell out at $1800 psf here. This location is not associated with a must have public school, is on 1st avenue, and did I mention it is on 1st avenue. The sales office was comical. Wasn't their motto "Homes of Champions" or something?
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Response by sidelinesitter
about 17 years ago
Posts: 1596
Member since: Mar 2009
ar - well done calling bs on these people. This is going to be entertaining.
InFamous - you're assuming that there actually ARE any buyers here. AR has shown that open houses are scheduled for six of the ten units that are allegedly in contract. Who's to say that the other four are any more real? Alternate reaction to 1,800psf = there are no buyers at that level and it's the developers who are out of their minds.
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Response by w67thstreet
about 17 years ago
Posts: 9003
Member since: Dec 2008
isn't this a little market manupilative(ish) as if the oil industry started saying "the reserves we thought we had is GONE." Get your oil NOW, get your OIL now... before the winter comes and your children are cold in their homes and you can't heat your food."
or how about a medical angle.... we are running out of chemo meds.... get your chemo meds NOW!
NO ETHICS, NO STANDARDS, NO BRAINSZ..... that industry needs some wholesale change.. if not from within, Obama.... Obama.... :)
AR - as I posted earlier, this is the real story that the real deal should have run. Not the story about empty buildings as an empty building doesn't cause half as much issues as one that is partially occupied. I think that brokers should STOP labeling listings that are not in contract as in contract. Once the truth comes out...this story breaks.
lr10021, yes, for many buildings the "shadow" inventory is hard to discern. but it's becoming much easier. if one looks at buildings that have begun closings, such as the Brompton and the Rushmore, it's not to difficult to see where they are floor-wise. some of those in contract but not showing up in closings may be still be trying to get a mortgage, or just not showing up in ACRIS yet, but at a certain point the lack of closings becomes clear. off the top of my head I can think of a number of buildings that are at that point now.
http://www.streeteasy.com/nyc/building/400-east-67-street-new_york
take a look at this shit show. have been closing units for about 6 months. have closed roughly 34 units out of 129. 11 units as rentals. how can a bank possibly justify giving somebody a loan here? they can't.
1,800 dollar per square foot. These buyers must be out of their mind.
come on, smack some limestone on a building and you can ask whatever you want. didn't you know that? I really question why in the world they expected to sell out at $1800 psf here. This location is not associated with a must have public school, is on 1st avenue, and did I mention it is on 1st avenue. The sales office was comical. Wasn't their motto "Homes of Champions" or something?
ar - well done calling bs on these people. This is going to be entertaining.
InFamous - you're assuming that there actually ARE any buyers here. AR has shown that open houses are scheduled for six of the ten units that are allegedly in contract. Who's to say that the other four are any more real? Alternate reaction to 1,800psf = there are no buyers at that level and it's the developers who are out of their minds.
isn't this a little market manupilative(ish) as if the oil industry started saying "the reserves we thought we had is GONE." Get your oil NOW, get your OIL now... before the winter comes and your children are cold in their homes and you can't heat your food."
or how about a medical angle.... we are running out of chemo meds.... get your chemo meds NOW!
NO ETHICS, NO STANDARDS, NO BRAINSZ..... that industry needs some wholesale change.. if not from within, Obama.... Obama.... :)