Twenty9th Park Madison

Brokers take unit off the market only to relist them later to give the appearance of activity in a building. The fact some units were taken off the market does not mean they are actually sold.

If you look at recent closings, 7A closed for $981k. It sold for $850psf. This should tell you where prices are going in the building. Asking price, especially for new developments are meaningless and are just a place holder these days. No one takes them seriously. Use the last transaction price as your guide. If you're interested in a building, bid low, current fair price is ~20-30% below peak price.

There isn't a lot of qualified buyers with 25% of downpayment in cash these days. If you are well qualified and put in a market bid of 20-30% below market, most of the time, the seller will hit your bid.

they just changed the brokerage and listed more of the units that were being held back. nothing to see here.

They are at it again and the realtor is staying the same this time. However, a number of new rental listings came on today with same realtor handling sales.

I visited that building when I was looking. The onsite realtors are slimy, as well as none-too-bright. Doubt they could sell, or rent, much.

does anyone know anyone who actually lives in this building? is it being run well? any major new construction problems or irritants? the location intrigues us but the bizarre listing and unlisting of the apartments has us concerned and we hesitate to continue to pursue lving there. thanks in advance for whatever info you can provide.

Rosa - i talked to some ppl who live there in the fall when I looked at the place. Terribly low water pressure, cookie cutter finishes and a total lack of neighborhood were among the complaints I heard. In addition, I'm told the onsite realtors will say anything to anyone to coax a sale. Not sure how that last comment differs from any other realtors on the planet, although I guess having them in the same building you live in must be a bit annoying...

Well, at least the building is getting some positive PR from the NY TIMES. Can you spell "trophy wife" . . . ?

http://www.nytimes.com/2009/07/26/realestate/26hunt.html?pagewanted=2&_r=1&ref=realestate

"Can you spell "trophy wife" . . . "

Yes. A-L-I-M-O-N-Y

d-pipe--funny . . . bet his first wife couldn't have gotten him to increase his budget from 1.5 million to 4.3 million . . .

Agree that this type of buying by foreighners should be prohibited in New York city.

definitely--we don't need this type of riffraff here.

thanks for the info Dwayne. the water pressure problem would irritate me for sure. by cookie cutter finishes do you mean inexpensive finishes? i haven't been inside but my husband has though he wouldn't necessarily notice these details and be fixed instead on square footage/location.
the article was intriguing also in a 'reality housewife' show type of way! we'll keep looking elsewhere i guess and we so share your opinions about the onsite realtors.

bmc - no the finishes i saw weren't necessarily cheap - thermador ovens etc - its just that EVERYONE has the exact same finishes/layout/etc. Reminded me of communist Soviet Union -- every comrade's apartment was EXACTLY the same...

The finishes are all high end. The water pressure problem was only in one line and it took them a while before the could figure it out and fix it. All done now. There is a new agency over there as of last month. The views are very good and once the hotel across the street is completed, the area will really jump. The hotel will have a high end steakhouse and a pool, bar etc that will be open to the public.

csn...why?

jerkstore - the Hotel Gansevoort opened up a few years ago in the meatpacking district. That area was not much of anything until that hotel opened up. Everything changed for the better. The Gansevoort Park which will probably open the middle of next year on the corner of Park and E 29th, will hopefully liven up the area. Time will tell.

The water pressure problem still exists, I heard. I think CSN is a realt-whore who is flogging the building...

Reason the meatpacking district was great an attracted the original Hotel Gansevoort (which won't quite be appropriate in another area since there is no Gansevoort Street elsewhere in Manhattan) was because that area already had some edge to it, even though in the fringes of the west village, still the west village. Second, had major attractions like Hogs and Heffers and that straight and gay S&M Club and I already forget the name of the Mexican place. What is on 29th Street?

"Reason the meatpacking district was great an attracted the original Hotel Gansevoort .. was because that area already had some edge to it...Second, had major attractions like Hogs and Heffers and that straight and gay S&M Club and I already forget the name of the Mexican place."

LOL. Another provincial idiot imagining that every trend is a local trend. Kind of like the bumpkins 1-2 yrs ago who said "Real estate is crashing? Not in my neighborhood; they just put in a new Home Depot!" They COMPLETELY missed the point that real estate the world-over, from the U.S. to Spain to UK to Germany, was starting to crash. No, all real estate is NOT ALWAYS "location, location, location". Sometimes, it's "macro trends have over-written micro trends and local factors".

Same with Meatpacking. In the mid-90's - for whatever reason - industrial neighborhoods in Prague and Philadelphia and Paris and New York and a dozen other cities started to become THE local of choice for new clubs. It had nothing to do with "Hogs and Heffers next store". You boob.

Will the new Gansavoort transform Park avenue btwn 25 and 32nd St? I have no idead. After all, this is a neighborhood so drab it doesn't even have a name! Some call it Gramercy North, some "Murray Hill", some "Gramurray", some call it Flatiron, some have tried to resurrect the century-old name for the neighborhood, "Rose Hill".

All i know is, if it does revive, it will have nothing to do with the factors LizDope names above.

I like how you make fun of the names, realtwhore and Dope and Alimony!

Thank you, East"Paris" Hilton.

Just ignore and stay away from Dwayne_Pipe. He's a violent psychopath. Better if you aren't a broker because he'll attack them first, but eventually all crazy psychopaths turn on everyone in their midst.

If you are ok with all the noise, etc. in this area, why no instead move to the Times Square area, where at least all the noise you are in includes Times Square, Broadway, etc. instead of junk.

This is a new building, if it has cockroaches already, forget it.

How can you be so stupid to think this is in Meat Packing?

dwayne, go easy. i'm a (strawberry) blond woman.

and i know my geography.

Hey, who deleted my reply to bilamo? Why do i waste my time if you SE thugs are going to delete ever post that isn't all unicorns and rainbows? If someone is offended at a post, they can pick up their panties and go onto the next thread...

"dwayne, go easy. i'm a (strawberry) blond woman."

You don't want it easy, sweetie. You want it rough.

If this project does not get slamed nothing will.
Are there really that many people out there that hate money, space and, location THAT much?
Not anymore.

want it rough?
No, unnecessary

"Are there really that many people out there that hate money, space and, location THAT much? "

The location seems bland, I agree. I don't get the part about hating money and space. The sq footage seems fine and the price (closed transactions, not ask price) seems reasonable.

I mean, Dwayne wouldn't buy there, but strictly on the metrics you named it doesn't seem that horrible.

Are you joking? Do you represent this property? At least try not to be so damn transparent with your intentions.

Cinstitute - umm...if you look at my previous million posts or so, i think it's fair to say that I am NOT in the real estate industry. I seem to recall calling it an illegitimate profession, and suggesting that realt-whores be put in work camps. So, no, I do not represent this property. I looked at when I moved to NYC and passed on it. The location wasn't neighborhood-y enough for me. The space was bland, but no more so than any new construction, and it was roomy enough. It seems to me that if you want space with "character", you're also putting up with 80 yr old plumbing and other problems of aging buildings. Not that this is a bad thing, it's just a choice. Also, while this place was HUGELY over-priced when I looked at it, the sponsor has dropped prices to market. Market is still falling, of course. I expect this thing to go for $900/square ft in a year. So, its approaching reasonable.

So, didn't love it, but didn't hate it. Tell me specifically what you hate about it.

BTW, the absurdity of cinstitute's post still has me chuckling.

DID YOU HEAR THAT, REALT-WHORES?? DWAYNE IS ONE OF YOU!!!!

How is this building doing for people?
I saw a 1 bedroom renting for $5800 which is pretty impressive for whoever bought it to rent out.

LOL, roger. The fact that a 1 bdrm is LISTED for $5,800 is what we call "interesting", the fact that the last 1br there ACTUALLY RENTED for less than $4K is what we call "relevant"...

Any updates on this building in terms of problems with mice or cockroaches? What about noise levels? Are the walls very thin? Is there a freight elevator to help with move-in?