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The Olcott

Started by yudimar
almost 19 years ago
Posts: 43
Member since: Jun 2006
Any info on this condo? Thanks.
Response by anonymous
almost 19 years ago
Posts: 2841
Member since: Feb 2007

three million for a 2 bedroom...no matter how much money you have why would you throw it away in the housing market now. It's definitely way too high

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Response by anonymous
almost 19 years ago
Posts: 57
Member since: Apr 2007

we threw 3milaway on the housing market so our family of 5 could own a home. is that okay with you?

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Response by anonymous
almost 19 years ago
Posts: 43
Member since: Jun 2006

one door away from the dakota...what's the down-side?

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Response by anonymous
almost 19 years ago
Posts: 1905
Member since: Apr 2007

It's a great location & a nice looking building. Have you actually seen the apartments?

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Response by anonymous
almost 19 years ago
Posts: 57
Member since: Apr 2007

i did.the apt are small not worh it to me

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Response by anonymous
almost 19 years ago
Posts: 380
Member since: Apr 2007

Family of 5 in a 2 bedroom? If you have too I can see it, but when the purchase price is 3 million?

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Response by anonymous
almost 19 years ago
Posts: 380
Member since: Apr 2007

bid low, bid low, bid low, bid low......

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Response by anonymous
almost 19 years ago
Posts: 43
Member since: Jun 2006

Checkout thie website http://www.olcottresidents.com/ for info on this condo.

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Response by anonymous
almost 19 years ago
Posts: 1905
Member since: Apr 2007

Gee, the website looked nice but this Olcott Informer business is unsavory & I wouldn't like the idea of supporting the owners by buying into the building if their behaviour is so egregious. Not good.

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Response by anonymous
almost 19 years ago
Posts: 57
Member since: Apr 2007

no i bought a townhouse for 3mil. i am not a fool

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Response by anonymous
almost 19 years ago
Posts: 3
Member since: Jan 2007

Dallas BQ is killing me. This is a fantastic building but there always seems to be tons of peolpe hanging outside at dbq into the late evening making niose. Is this legal? They are often yelling and screaming.

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Response by anonymous
almost 19 years ago
Posts: 43
Member since: Jun 2006

#12, Do you live in the Olcott? I thought they were still undergoing renovations.

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Response by anonymous
almost 19 years ago
Posts: 309
Member since: Apr 2007

I have a friend who lives in a 2 bd. Nice apt, the finishes are good and heated floors. Not the hugest place though and they don't tell you this, but there are some rent controlled people who still live in the building. I think overpriced and it is still basically under construction.

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Response by jumbolaya
almost 19 years ago
Posts: 3
Member since: Jan 2007

I'm number 12 and I do live there for 4 weks now. You may think its overpriced but the apartments are already getting 35% more then what was initially paid for them. Beutiful aprtments and fantastic location. There are still some old tennants that live there that all seem very nice. There is some construction going on that does not bother me very much at all. Construction should be over by the end of the summer.

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Response by anonymous
almost 19 years ago
Posts: 194
Member since: Jul 2006

The Olcott was a welfare hotel they just converted. It was the least fancy building on a nice block for many years, housing derelicts. It's amazing they are selling these apartments for millions, trying to play up it's rich history.

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Response by anonymous
almost 19 years ago
Posts: 3
Member since: Jan 2007

No one is trying to play up the history. Its simply supply and demand in nyc real estate. The quality and location of the apartments is what is fetching the "millions"

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Response by jjh3d
over 17 years ago
Posts: 63
Member since: Nov 2007

Just listed 1BR resale at $1,376 per ft:

http://www.streeteasy.com/nyc/talk/discussion/1356-the-olcott

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Response by jjh3d
over 17 years ago
Posts: 63
Member since: Nov 2007
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Response by drdrd
over 17 years ago
Posts: 1905
Member since: Apr 2007

That's what they're asking; let's see what they get. It has a good location & the building is attractive but I've always thought the units were small; didn't it used to be a hotel? Time will tell. It seems to me that it's just too soon to tell where the prices are going to go, given this past week.

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Response by jjh3d
over 17 years ago
Posts: 63
Member since: Nov 2007

Yeah, it was a hotel and has been completely gutted. There are a couple of remaining rent-controlled tenants. I am wondering what this unit sold for in May 2007.

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Response by masterd
over 17 years ago
Posts: 55
Member since: Dec 2007

sold for 840K in May '07

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Response by jjh3d
over 17 years ago
Posts: 63
Member since: Nov 2007

Thanks. So this seller thinks that his purchase has gone up 18% in the last 1.5 years. Interesting.

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Response by anon3
over 17 years ago
Posts: 309
Member since: Apr 2007

my sister lived here for quite a while. Apt had 2 bd and it cost a fortune even though she bought it a few years ago, even then it was way overpriced. Total waste of $$ if you ask me, but she could say she lived at 72nd and Central Park West ^ always to questions in awe of "you live in the Dakota?????".....great address, crappy building. I assure you it will lose 50-80% of its value within the next few years. Very dark, boring apartments, plus it still has rent controlled tenants in it (they publish a newspaper too these rent controlled people so they are not forgotten.....) terrible I'd stay away.

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