http://curbed.com/archives/2009/08/20/construction_watch_the_aldyn_growing_on_uws.php?o=0 Extell's latest immense Upper West Side development marches southward! At Riverside South—a plot of land at Riverside and the lower West 60s that already features new developments The Avery and The Rushmore—there's now about nine months of growth on the latest addition to this skyline-altering portfolio, The... [more]
http://curbed.com/archives/2009/08/20/construction_watch_the_aldyn_growing_on_uws.php?o=0
Extell's latest immense Upper West Side development marches southward! At Riverside South—a plot of land at Riverside and the lower West 60s that already features new developments The Avery and The Rushmore—there's now about nine months of growth on the latest addition to this skyline-altering portfolio, The Aldyn. This 38-story condo tower, which will feature 279 units, sits next to The Rushmore. When Curbed operatives recently dropped by, construction workers were observed—yes!—glassing the place up. While there's still no website or juicy rumors, The Aldyn looks on track to open its doors in the first half of 2010.
[less]
Response by spinnaker1
about 17 years ago
Posts: 1670
Member since: Jan 2008
Is Extell the biggest contributer to this condo glut? Could they be playing into the hand of their own demise or are they completely bullitproof?
Ignored comment.
Unhide
Response by aboutready
about 17 years ago
Posts: 16354
Member since: Oct 2007
i believe each development has a separate entity formed. extell couldn't give a rat's, other than general reputation, about whether each property fails or not.
Ignored comment.
Unhide
Response by Riversider
about 17 years ago
Posts: 13573
Member since: Apr 2009
Avery owners beginning to resell, Rushmore closings occurring at snail's pace with one year prohibition on first closings soon approaching. With Aldyn coming on line you have to wonder what Extell's strategy is.
Ignored comment.
Unhide
Response by columbiacounty
about 17 years ago
Posts: 12708
Member since: Jan 2009
perhaps their only strategy is to put one foot in front of the other. kind of like 90% of american businesses. they're in the business of developing that area so that's what they're going to do. tough to be the one who raises his/her hand in the meeting to ask why.
Ignored comment.
Unhide
Response by spinnaker1
about 17 years ago
Posts: 1670
Member since: Jan 2008
You would think the "once bitten twice shy" rule would temper their (and their creditors) aggression but perhaps some of these were well into the pipeline.
Ignored comment.
Unhide
Response by nyc_observer
about 17 years ago
Posts: 93
Member since: Aug 2009
Riverside condos seem ridiculously priced. Buy a 700 sq ft unit for $950k or rent for $2900. Tough choice!
Ignored comment.
Unhide
Response by ILoveMuayThai
about 17 years ago
Posts: 125
Member since: May 2009
great roi on apartments in the avery.
why wouldn't someone want to buy in the aldyn?
100 Riverside Boulevard #17E
11/03/2008
Previous Sale recorded for $1,440,000.
08/21/2009
Listed in StreetEasy by Corcoran at $1,350,000.
Ignored comment.
Unhide
Response by Riversider
about 17 years ago
Posts: 13573
Member since: Apr 2009
nyc_observer buy a 700 sq ft unit for $950k or rent for $2900
that's the lunacy of buying new construction. You can get the same rent purchasing an older unit nearby for $650k
Is Extell the biggest contributer to this condo glut? Could they be playing into the hand of their own demise or are they completely bullitproof?
i believe each development has a separate entity formed. extell couldn't give a rat's, other than general reputation, about whether each property fails or not.
Avery owners beginning to resell, Rushmore closings occurring at snail's pace with one year prohibition on first closings soon approaching. With Aldyn coming on line you have to wonder what Extell's strategy is.
perhaps their only strategy is to put one foot in front of the other. kind of like 90% of american businesses. they're in the business of developing that area so that's what they're going to do. tough to be the one who raises his/her hand in the meeting to ask why.
You would think the "once bitten twice shy" rule would temper their (and their creditors) aggression but perhaps some of these were well into the pipeline.
Riverside condos seem ridiculously priced. Buy a 700 sq ft unit for $950k or rent for $2900. Tough choice!
great roi on apartments in the avery.
why wouldn't someone want to buy in the aldyn?
100 Riverside Boulevard #17E
11/03/2008
Previous Sale recorded for $1,440,000.
08/21/2009
Listed in StreetEasy by Corcoran at $1,350,000.
nyc_observer buy a 700 sq ft unit for $950k or rent for $2900
that's the lunacy of buying new construction. You can get the same rent purchasing an older unit nearby for $650k