building at 200 Chambers Street

The teenagers in the area are usually super smart since they go to Stuy HS

This is a building where most of the owners are flippers and investors.

I think that the majority of the small units were bought by flippers and investors, while probably the larger units were purchased by families who actually want to live there. I don't like the corner it is on (being on the west side highway) but I love the neighborhood, and it is getting better and better.

There is a whole foods moving in around the corner within the next year. Don't know for sure. The building is right next to an elementary school.

I know one of the tenants and she really loves the new building.

Does anyone know of a reputable home inspection company in New York? Thanks

We just bought here, and while it looks like there were alot of speculators on the small, less desireable units (just like at Starck) I think the majority of units will be "family-type" purchasers interested in the neighborhood (like my wife and I).

As far as the school -- unless you are scared of thugs smacking you around with slide rules, I think you are OK . . . as a matter of fact the annual city Math Olympics were held last weekend at Stuyvesant . . talk about some shady characters. I wouldn't want to run into any of those kids at a Star Trek convention!

It's actually surrounded by schools. This may be the smartest block in NYC ;-)

Stuyvesant HS, PS+IS 89, PS234, PS234 Annex and BMCC

BMCC is for idiots.

terrible area to live , on the west side highway ,its not tribeca..its more battery park north

Post # 12 Why do I have a feeling you would love to live there if you could afford it.

#12 -- It is across the street from Washington Market Park, and a hop over the bridge to the waterfront. For downtown hi-rise living, it is a great option. West Street is a pain, but the entrance is on Chambers and you are next door to the best elementary school in the city -- which I am sure is not considered "Battery Park North" or no self-respecting late 30's Tribeca hipster parent would send their kid there.

You are a block from the Greenwich Street restaraunt row, two blocks from the subway and with tennis courts and a whole foods on either side of you . . .not sure what is so "terrible" about that . . . !

http://www.streeteasy.com/nyc/building/200-chambers-street-manhattan - what's going on with the rentals here - $16K/month for a 2bdrm???. Look at all these people asking for 5 digit rents in this building? I guess people need to ask for these crazy rents to cover their mortgage. In an area where $50-60 sqft/yr is considered high end, asking $120 sqft/yr is obnoxious. Look at all the down arrows..

For residents: Now that you've moved in, how do you like 200 Chambers? Is Tribeca all that it's cracked up to be? Is the 101 Warren construction (and other surrounding construction) bothersome?

As a hypothetical question, could they get rid of the elementary school and build some new construction next door? Is that a potential/probable concern?

Tx.

They're never getting rid of that elementary school. The neighborhood would go ballistic, with all the families with kids moving in and already in.

That elementary school, PS 234, is supposed to be rank the best in the City. In fact I still see limos and chauffeurs dropping off kids here. I have a feeling they are coming from other parts of the city which will probably stop soon from all the overload of new families moving in.

We just moved in and LOVE it. Great staff, apartments are solid, views are spectacular. The construction next door only goes on while we are at work, so not an issue at all.

Did I hear correctly that the common charges include gas supplied to each unit? If it's true, that sounds pretty amazing. Thanks.

I think its a great building. Unfortunately for my cheap ass, the $1300 psf to live there is too hight for me, but I think the location's fine. And its brand new! you can't get that everywhere.

We just moved in . . . the construction is really top notch . . . these guys really didn't mess around. I guess it is because it was Resnick who was the developer and they are doing stuff all over the city, so they get the best union guys. Considering run-down lofts in the same area are commanding $1200+ a sft for no services this was not a bad deal. Not sure about the gas thing -- I guess I will find out when we get the first con-ed bill!

There is some crazy person however that is trying to flip a unit for $2000 a sft which is really a stretch . ..

went to look at the building this weekend. seen many buildings in the city now and this is one of the nicest one i have seen in the new developments. I do wonder about the relationship between price and rentals paid in this building. most of them look like they have been purchased for investment given the high rents. simple math tells me that for a place that is about 750 sqft you will have to pay about 5500 in rent to about 6 excluding additional charges i will have to pay. bothers me a bit when i have to get a tennant to pay me over 6 for 750sqft to cover my costs. seems like from this site rentals are not moving and there is a lot of dispersion per sqft. does anyone have another view who lives in the building.

We purchased to live here and love the building. As an investment, I think there are just too many inititial flippers that came in and are screwing up the market for it, coming in at different prices with no knolwedge of how to price. There are not alot of rentals of this caliber in Tribeca, so prices are all over the place. This should calm down once the building settles in.

The service has been top notch, the buildouts execeptional and we really are happy.

# 23 I beleive you are assuming that investors at 200 Chambers are up to their eyeballs in mortgage payments. Maybe they paid cash or took out half the mortgage that they could of --who knows.
I believe the bottom line is that over the next 6 months or so this will all be digested one way or the other and values will most probably go up over the next several years.

whether they took a mortgage or paid case, either way if they cant rent the units out, they're not getting a good yield or return on their investment right now

Its still early only May. June and July is the rental season.That's when graduates move in and others wanting to get their kids in to register for school. Bottom line sooner or later they probaly will be all rented.

I purchased a 2 BR in the building with plans to live there and will likely close in a few weeks. I think the clean-up on Chambers Street from "five & dime" shops to higher-end stores will be an immense boost to real estate values in this area. All those stores are closed/closing and are very likely to be replaced with some fancier options for the neighborhood. Can any current tenants or owners give me a sense of what punchlist items (if any) you had to follow up on? Is the fitness center and pool finished yet?

I purchased a 2 BR in the building with plans to live there and will likely close in a few weeks. I think the clean-up on Chambers Street from "five & dime" shops to higher-end stores will be an immense boost to real estate values in this area. All those stores are closed/closing and are very likely to be replaced with some fancier options for the neighborhood. Can any current tenants or owners give me a sense of what punchlist items (if any) you had to follow up on? Is the fitness center and pool finished yet?

We have been in for 2 weeks. Pool and gym are done (gym has weird hours though, and a full time attendant, which is strange as I figured this would just be open 24hrs. Maybe a new condo board can change this).

Building is really nice and staff is great. Punchlist however is another issue. We have had zero action on ours in two weeks, which I have heard is par for the course. You really need to stay on top of them . . .

That's interesting on the gym hours, i hadnt realized that, and it is definitely something that needs to be lobbied for change. How "occupied" does the building seem right now? I walked by recently, the lobby looks spectacular and i think it came out much better than the renderings.

I would say the building is only about 25% occupied. Kind of nice that it is empty!

Lobby is great and they are doing a nice job on the plantings. Hopefully they will stay that way -- looking forward to the waterfall!

Hi there, i am closing on my unit at 200 Chambers this week and also have my walk-through coming up. Can anyone who has closed at 200 Chambers give me an idea of what their issues were on the walk through so i know what to look for? Is it little things like crooked fixtures or was there anything more substantial? Thanks for any feedback!

Just spoke to a sales agent at 200 Chambers, there are only 2 units left in the building, FYI. Everything else sold. That's pretty incredible.

Our place was in pretty good shape but I would look for:

Gaps between windows and ceiling / floors
Chips in marble sinks and floors
Shower doors (our were missing!)
panels for Elec closet
all appliances working
Scratches on floors
Nicks in sheetrock
all cabinetry in perfect condition
shelves and hanging bars installed
chips / stains in mirrors

Yeah but the values in this building are going to crash --so says Noah Rosenblatt and this includes all of Manhattan due to rising rates

To #36: i assume you dont own at 200 Chambers, so i hope you enjoy all your pre-emptive gloating about real estate crashes etc. In the meantime, i will enjoy living in a luxury condo with spectacular views, fitness center and pool and fabulous location. Unless you are a speculator who wants to flip real estate and make your quick buck off the one-time dislocations that happen every 15 years or so, there are lots of real-estate investors who think a bit more long term and can enjoy living in their investment while it appreciates over time. Good luck to you.

Talking about flippers this building is full of em I would estimate about 60% of people who bought into this building are investors. This building has now officially become a rental building with transient people moving in and out of this place like rodents. Since they are non owners don't expect the same care for the building as owners would as well as security. The renter can have friends who have criminal records.

If I was a renter I probably would use the pool as a urinal and as a renter don't expect me not to invite my friends who will use the pool as a bath to wash off their perspiration and grime. Yeah great building

i am curious how it benefits you to express these negative views even though you obviously have zero vested interest in this or any other building (unless you are trying to prop up the values of some neighboring building through this very well distributed blog which i am sure will have maximum impact on people who make real estate decisions...).

#38 . . . do you live there?

Where is your data from. There are 200 units in the building -- hardly 60% are being rented and they are all the low floor studios and one beds.

idiot

I believe it's more like 40 percent not 60 percent. That doesn't qualify it as a rental building.

its more like 20%

Do you really think that rodent-renters have the ability to pay $6k to $15k in rent per month to rent/sublet here? or is that the usual price that street vermin pays so they can urinate into someone's pool? pretty interesting use of cash.

And in regards to PS 234 being the greatest elementary school in the city, it's one of the most overcrowded, it was at 120% capacity last year. Their great score results are from all the rich parents hiring private tutors for their kids. They even have some "bridge" classes, like 4th and 5th grades together due to lack of classroom space.

And in regards to PS 234 being the greatest elementary school in the city, it's one of the most overcrowded, it was at 120% capacity last year. Their great score results are from all the rich parents hiring private tutors for their kids. They even have some "bridge" classes, like 4th and 5th grades together due to lack of classroom space.

who is the hater? seriously . . so much jealousy!

#44, but the irony is that an annex of ps234 is opening this August in 200 Chambers that will cure the overcrowding.

If there's overcrowding at the school and they are using 200 Chambers for extra space, it's not too long before either the school looks for a new location OR starts to build up to accommodate student needs. With all the apt buildings going up in the area, it's bound to happen sooner or later.

They are building a new elementary in the Gehry building on Beekman which willopen in 2009 and PS89 is handling the additional volume from BPC Riverhouse.

All will be fine. Not sure why there always has to be some aggressive, angry person ready to slam any building/neighborhood they don't care for . . .lonely, sad, angry, hangers on from the Koch era . . .

Hi everyone, it looks like the number of listing for sale in this building increased dramatically in the past few days -- does anyone know why??

A whole bunch of listings are actually for the same units that a broker is trying set up as a combo sale. For some reason they were listed multiple times, but they are all the same unit.

Hi -- thinking about buying here . . . common charges taxes are lower per sqft than other new buildings nearby . . . do those charges go up in coming years, as they do in many new developments?
Thanks.

Have an attorney read the offering plan before you buy....this way you don't have any surprises. By the way, every building's common charges go up.

I like 200 Chambers a lot, just came through with a renter, and I have to say right at this moment the build-out of the Palm, the restaurant going into the commercial space downstairs, is noisy.

If you're moving in in six months you won't care, but if this is an immediate move, make sure you go through the building on a weekday, not just on the weekend, to get a sense of the noise levels.

ali r.
{downtown broker}

i know i'm just a "lowly renter" but is anyone interested in renting out a one bedroom in the next few months? i've been bugging realtors for 2 weeks since i first saw the building but thought i'd ask directly on this message board ...
thanks --
i'll check this every day!

Lower floors outside of the tower leave much to be desired, though a couple have ok views.

how do people like renting in this bldg, i'm thinking about renting in this new bldg but wasn't sure of your thoughts ... thanks

how do people like living in this building these days? Did they ever fix the vent issue coming from the Palm? How are amenities? Nieghborhood? What are the pros/cons? thank you