AZURE intelligence! == new construction on 91st & 1st

Fruit loops are for kids and

Truth

So this new change instituted by streeteasy, I can now read columbiacounty. Cool.

truth, i'd call you a shill but you don't actually have any clients.

Truth, for a more positive postings by aboutready directed at you on streeteasy, please email advertising@brickunderground.com for price sheets, questions, and custom campaigns designed especially for you.

feel free. e-mail away. we welcome it. each and every one of us.

hb, have you sent an e-mail with your concerns yet to BU? i very much think you should.

>hb, have you sent an e-mail with your concerns yet to BU? i very much think you should.

So your extortion attempts are done with the consent of brickunderground?

extortion attempts? what extortion attempts?

sorry, i haven't been following your lack of logic.

don't you think that azure would be the injured party here, if it were true? why don't you file suit on their behalf.

in the meantime, keep throwing out meaningless and untrue accusations. you clown.

Hunter S -- You claimed to be a lawyer. Isn't it unethical or illegal for a lawyer to hurl false accusations in an effort to damage another person's reputation/business? You might want to consider that.

When did I claim to be a lawyer?

You wrote the following:

"Yes, Australia, wonderful country too. Just on Tuesday one of our new junior associates explained why his parents moved from Australia to the United States a bit under 20 years ago because there was insufficient economic opportunity for them. But maybe that has changed in the intervening years, with all of the precious natural resources and of course everyone chasing real estate. In any case, his background won't be held against him at the firm because he doesn't even have a detectable accent."

Junior associates? Firm? Sounds like a law firm. It was the "homogenious" thread, so maybe you're blocking.

Hunter S. Homogenious, Esq.

So the post sounds like a law firm.

But you can't find where I claimed to be a lawyer.

Wal-Mart calls its employees "associates"

Fine. You work at Wal-Mart. And, in response to all those posts when I said you must be a crap lawyer, you never denied being a lawyer. I know it must be hard to keep track of all the lies and multiple personalities at the same time.

You are correct, I didn't deny being a lawyer.

But you said that I claimed to be a lawyer.

> I know it must be hard to keep track of all the lies and multiple personalities at the same time.

Provide one lie.

Provide one other personality or name.

As for (a), take a look at most of your posts. You have claimed that AR falsely criticized the Azure, yet you can't identify anything false that was said. Plus, everyone jumped on Mattone for being a shill. You have picked out just one of those people to attack because that is what obsessed trolls do.

As for (b), all I know is that multiple posters -- who seem to know far more than I do about the history of this site -- have identified you as an alter ego of others. In the credibility battle, I'll take them over you.

PS Homogenious

>You have claimed that AR falsely criticized the Azure, yet you can't identify anything false that was said.

No, again, not true. I didn't say that she falsely criticized Azure. I said she criticized Azure. I know nothing about Azure to say that the criticisms are true or false.

>Plus, everyone jumped on Mattone for being a shill. You have picked out just one of those people to attack because that is what obsessed trolls do.

Ok, one way or the other, where is the lie?

>(b), all I know is that multiple posters -- who seem to know far more than I do about the history of this site -- have identified you as an alter ego of others. In the credibility battle, I'll take them over you.

You are referring to columbiacounty?

yawn

burp

So, every criticism of a developer must be driven by an ulterior economic motive and, instead, isn't because the person making the criticism believes it? Any normal person would go for the latter, much more plausible explanation instead of the fanciful one. You are leaping to an incredible conclusion, without a shred of evidence, because your sole goal is to attack. Or maybe you just assume the worst in people because you are bitter and projecting your own behavior on others. Hence, my earlier statements that you are a bad lawyer (albeit a homogenious one).

How has SE not booted you off yet?

>So, every criticism of a developer must be driven by an ulterior economic motive and, instead, isn't because the person making the criticism believes it?

Hardly. Numerous people on that thread criticized Azure. Only 1 has an economic motive.

>You are leaping to an incredible conclusion, without a shred of evidence, because your sole goal is to attack. Or maybe you just assume the worst in people because you are bitter and projecting your own behavior on others.

You are leaping to an incredible conclusion, without a shred of evidence, because your sole goal is to attack. Or maybe you just assume the worst in people because you are bitter and projecting your own behavior on others.

so hb you are supporting the developer? maybe you are the developer? have you proven that you don't receive money to troll and discredit people who question this developer? can you please provide proof that you have no conflicts of interest in your postings here? or are you a developer in hiding? hmm?

Nothing to prove. You figured it out. Thanks for staying several posts beyond where you said you were done.

what economic motive? you're an uniformed idiot, but amusing.

Also, despite nothing to prove, my mistress' litigation partner husband will be discovering you.

btw, please keep it up. the more troll-like behavior...

>what economic motive? you're an uniformed idiot, but amusing.

amusing and boring?

yes, and such an hsf response. textbook troll.

Should we call it a night?

farewell?

What kind of uniform does an idiot wear?

aboutready, alanhart asked you a question. Please respond.

alanhart, sorry for aboutready's manners. Here's what I envision aboutready wearing:
http://www.google.com/imgres?imgurl=http://www.threedonia.com/wp-content/uploads/2010/04/High-Anxiety.jpg&imgrefurl=http://www.threedonia.com/archives/22652&usg=__HaGjrj5s-NisDy0diZPwM_xOruU=&h=734&w=347&sz=75&hl=en&start=0&sig2=x8f7Z-vdJIKmmCfE-QK5yg&zoom=1&tbnid=TyZHqlk5JFB05M:&tbnh=148&tbnw=70&ei=mh9CTZilO4HQgAe5ru3NAQ&prev=/images%3Fq%3Dcloris%2Bleachman%2Bnurse%2Bdiesel%26um%3D1%26hl%3Den%26client%3Dfirefox-a%26sa%3DN%26rls%3Dorg.mozilla:en-US:official%26biw%3D1280%26bih%3D609%26tbs%3Disch:1&um=1&itbs=1&iact=rc&dur=1389&oei=mh9CTZilO4HQgAe5ru3NAQ&esq=1&page=1&ndsp=20&ved=1t:429,r:0,s:0&tx=35&ty=95

Is this site about real estate or getting one's frustrations out?

Is this site about RE?

Did you read the name of the thread?
AZURE intelligence!

This thread is for oxymorons and because we are never exclusionary, for morons also.

I was just being sarcastic...It worked...have a nice day

what is happening in this residence? I followed it for tw oyears and in spite of ladt year sales nothing new. Is it going to be a foreclosure or ? how can they survive without selling anything in 3-5 months?
does nay new bank financing potential buyers beyond 10 years now?

Have they started avertising on Brick Underground yet?

no, they are "aver"tising here.

aver: to assert or affirm with confidence; declare in a positive or peremptory manner.

per·emp·to·ry/pəˈremptərē/Adjective
1. (esp. of a person's manner or actions) Insisting on immediate attention or obedience, esp. in a brusquely imperious way: "“Just do it!” came the peremptory reply".
2. Not open to appeal or challenge; final.

yes, exactly.

your spelling error was excellently correct.

Great

great indeed!

Indeed!

2,787 Open houses FLMAOZzzzzz

Did you mean FLAMEOz?

http://www.google.com/search?q=FLMAOz

looks like 2 units in contract and close on some others based on what the sales office is saying. once traditional financing opens up, this building will sell. apts and amenities are really really nice.

The Chelsea Enclave (another land lease property in Chelsea) has just sold its last remaining apartment after three years of marketing. Alas, Azure is still struggling with around 30% after 3.5 years of marketing and a large number of those contracts signed are the result of a bulk sale. This project is a disaster. I can't think of another Manhattan project with a worse sales record.

If you are going to buy into a land lease property you are much better off at the Visionaire in Battery Park City. Much more beautiful building, much better views, LEED certified, waterfront living in one of the city's best neighborhoods and, unlike Azure, all of the public schools downtown are wonderful. Families save a fortune by not having to send their kids to private school. At Azure you have to pray that your kid is smart enough to get in to the selective area schools.

really? the visionnaire is a disaster in every sense of the word, right down to the leaky windows.

Yet, the Visionaire has sales WAAAYYYY higher than Azure doesn't it? You also have no credibility. The Visionaire is a beautiful building. Azure, at best, is inoffensive. The Visionaire has views that Azure will never equal and has them from a greater percentage of its homes. The Visionaire's common areas are incredible and includes a pool. Azure's amenities are very small and poor by comparison. The Visionaire's school district? Among the best in the city. Azure's? Get your tuition check ready. Visionaire? Waterfront living in a beautiful landscaped park. Azure? Gritty 1st Avenue with low income housing projects around the corner and a waste transfer pier coming in just down the bock. I'm not aware of any window issues but I've destroyed your point about the Visionaire being "a disaster in every sense". Of course, you probably meant Azure in which case I would mostly agree with you.

p.s. I wouldn't pick the Visionaire ordinarily, BUT, if I was going to buy into a land lease development, the Visionaire provides a much better value and living experience than Azure ever will. I am not a broker representing the Visionaire, but I have seen both on multiple occasions and there simply is no real comparison between the two.

Visionaire has leaky windows? If true, not very LEED.

Per the Real Deal, it looks like Bracha and Keller Williams are out and Elliman back in, though under a different agent. The owners apparently realize that they were sold a bill of goods by Bracha. Outside of a bulk sale which has yet to close, he has sold virtually nothing in the last year. Why? Because the prices are too high for this product. The few sales that have occurred are coming in between 20% and 30% under list and still they have very little to show for it. The building appears to have very few residents. A shame for a building that actually has nice apartments.

All of their troubles would be eliminated if they would just advertise on Brick Underground.

It will be interesting to see what 12cd combo sold for when it closes.

Does anyone know why the sales office is boarded up? It looks vacated now when you look inside. (I have never posted here yet and apologies if this is covered in this thread already but I didn't see anything about it).

they moved it to apt 25c to show off the building and views better

The sales office has moved to the 25th floor of the building. Go to the concierge at the front desk and ask for the sales office.

Check this out, it made me laugh so hard...thank you Azure for taking the time to bang on my funny bone!

http://streeteasy.com/nyc/sale/581464-condop-333-east-91st-street-yorkville-new-york

Thank you for the reply. I viewed a few apartments a couple of months ago and they are quite beautiful and spacious, and was thinking of going back to see them. I am hesitant to be one of the first ones in, but I think it looks like a great building..... Also, I see that there are a ton of comments here about the neighborhood, and I have lived in one of the high rises a block away for 15 years now and personally we love it. Yes there is a housing development across the street but that doesn't bother us -- there is quite a bit of greenery in front of it, a children's playground, and the farmer's market comes in on the weekends for the summer/fall months which is quite lovely. While it may not be for everyone visually, we have never had an issue with it from a personal safety standpoint or any other standpoint. Just fyi from our perspective.

If the good people of Azure would have just advertised on Brick Underground, then aboutready would have been on this thread saying nice things about Azure instead of the current content, and who knows how things might have turned out!

I just viewed Apt 20CD, which the sales office told me had come back on the market, because the previous buyer had defaulted and walked away. It's a large four bed four bathroom space. She told me the developer is a lot more negotiable on this specific apartment, because the previous buyer had done some customization in the kitchen - basically installing a massive wine chiller and dark brown countertop - does not look good - but this could easily be switched out. I also saw 26CD, which was way nicer, as it's above the line of the building in front, so it gets amazing views all the way from Central Park across downtown Manhattan to Queens. The apartments are really beautiful, light and spacy, and the fixtures and fittings seem to be of a good quality. Not sure why the master bathroom doesn't have a bath, but whatever. The sales agent told me that fifteen families have moved in and that more are in contract waiting to close. She said that the four bedroom line has been the most popular with buyers.

The location does feel a bit like you're on the edge of the Wild West, with the projects a couple of blocks away, and a fairly dead part of 1st Avenue on your doorstep, but the school next door seems nice, and when I was there the kids were out on recess, and it was pleasant to see them all hanging out with their friends.

So, why didn't I take out my check book - probably that small matter of the collosal service charge - $6.5K for the CD apartments above the 20th floor. Really don't get why it's so steep. I think that plus the fact that it's probably going to be tough to get financing, even through HSBC, as the mortgage property value is going to come out low, based on the previous sale prices.

But it sure is a mighty pretty building, and amazing space for Manhattan.

1) Contracts at azure can be structured to be contingent on purchasers obtaining financing if they desire. A few purchasers have purchased all cash. All purchasers that have received financing from HSBC and other financing institutions have received independent bank appraisals. In some instances two appraisals have been completed for residences with sales prices above $2,000,000. All these completed sales and additional purchases currently under contract for units above the 26th floor have received APPRAISALS THAT HAVE SUPPORTED THE CONTRACT PRICES.
2) 30 yr projections of all maintenance charges are available from the sales people at Azure. Details include explanation of the impact of the 421a tax abatement program for 10 years and the additional substantial tax benefit from years 11 to yr 20 that no other coop, codop or condo has in NYC. This is the result of the Azure being developed as a public private partnership with the City of New York Educational Construction Fund (ECF). The sponsors of Azure also built MS 114 as part of the requirements of this public private partnership. I encourage you to continue your dialogue with your sales person to obtain the details you desire on the maintenance. On Street Easy DO A SEARCH AND COMPARE BOTH PRICE AND THE MAINTENANCE CHARGES OF ALTERNATIVE 3,000 SF 4BR LUXURY UNITS ON THE UPPER EAST SIDE. YOU WILL SEE THE OVERALL COMPARATIVE ECONMIC BENEFITS OF AZURE. Discuss your financing needs with the dedicated loan officer at HSBC Angelo DeJoy 212 472 0181 details of the maintenance charges at azure common area charges on each individual unit

Please join us on Facebook to receive up-to-date information on the increased sales progress at Azure and relevant market wide sales data. You will also receive recently published articles concerning neighborhood happenings and recreational activities. These will include forthcoming notices of new openings for restaurants and retail establishments coming to the area. Updates on will also be provided on the details associated with additional mortgage lenders providing Home loans to Azure purchasers. To get to the facebbok page go to our web site www.Azureny.com and click the fasebook link.

sorry for typo my mistake

Residences Recently Put Under Contract at Azure
Residence 4A ; 2 Bedroom 2 Bath; 1,428 Square Feet; List Price $1,266,000
Residence 4D; Studio; 724 Square Feet; List Price $634,000
Residence 4F ; Studio; 601 Square Feet; List Price $520,000
Residence 5B; 1 Bedroom With Home Office; 1,063 Square Feet; List Price $1,060,000
Residence 6B; 1 Bedroom With Home Office; 1,063 Square Feet; List Price $1,243,000

STRONG DEMAND FOR LOWEST PRICED RESIDENCES AT AZURE SHRINKS SUPPLY OF SEVERAL FLOOR PLANS. CONTACT YOUR AZURE SALES PERSON TODAY
Only Three (3) Studio Residences Remaining In The Inventory at Azure: Residences 4E, 5E, 5F
Only one (1) Corner Unit 2 Bedroom 2 Bath; 1,428 Square Foot Residence Remaining In The inventory at Azure: Residence 4A
Only one (1) 1 Bedroom With Home Office; 1,063 Square Foot Residence Facing First Avenue Remaining In The Inventory at Azure: Residence 4B
Only one (1) low floor 4 Bedroom 2,968 Square foot CD Residence Remaining In The Inventory at Azure: Residence 9CD

Or punish outright shillery by ignoring these posts.

So MidtownerVirgin, if someone has an interest in this building, they should just put that interest aside because mattonegroup posted here in a transparent manner?

There is no strong demand for ANY homes in this building. Outside of a bulk sale they have sold virtually nothing and still have almost no residents after 3 and half years of marketing. There were very few studios and one beds to begin with so any sale will "shrink" supply. More nonsense from the developer. It will be interesting to see what the discount from list will be. Even more interesting to see the discount the bulk buyers got if and when they ever close.

star8360,
you need to get off that train. things are moving forward (maybe slowly) whether you want to admit it or not. we all do better when the economy and the city is doing better so why not accept it and embrace that these projects will get filled.

Wannabe, I would IF it were true. Face the facts. Aside from the bulk sale a year ago (which curiously has yet to close) Azure has had virtually no sales relative to the total number of apartments. What's even more troubling is that they have had nothing at all at the top of the tower where the maintenance is incredibly high. 3.5 years of marketing and no closed sales above the 20th floor. Plenty of room on the train. Get on board!

My wife and I looked all over the upper east and upper west side for an apartment. We were looking for a top quality building. We both work and knew that we wanted something that was going to be a beautiful apartment, and get it in move-in condition. When we saw Azure, we both thought that it looked like a fantastic building. Top quality appliances, beautiful floors, and great views. We've been in the building for six months and we couldn't be happier. We have no doubts that we made the right decision. The building is everything that the web site and sales staff sold. And the management of the building has been extremely friendly and easy to get along with. Really, I have only positive things that say. We believe that we had high standards and wanted to also get value. We're very happy and look forward to making a home in the building.

mattonegroup, I love your self-deprecating sense of humor.

Mattone, seriously, leave this to the professionals. Buy an advertising and PR package with aboutready, including display advertising on Brick Underground, and no nasty comments on streeteasy.

wannabee - can you help us with the definition of "moving forward" as you used the term above? Just to point out a couple of inconvenient truths, they closed 9 sales in the first three months, a pace at which the building would sell out in about 3 1/2 years. And that turned out to be the good news, given that they are currently closing in on 4 months with no further closings. I don't think that star8360 missed much in his/her response. Do you disagree? If so, based on what?

Well, according to SE, there are 5 apts in contact covering 7 units. I would call that "moving forward". Sure there is no guarantee that they will close but its more progress than we've seen in a year. I'm not telling anybody to buy now since they won't be around much longer but ignoring the fact that these apts have gone into contract (with likely more on the way near-term) is progress.

Signed contracts for 5b 6b 5c 5d will be posted to street easy this week. The evidence of additional closings will occur after HSBC completes the financing process. Mortgage Rates are currently very attractive. The delays in completing of the financing process at HSBC are caused by the increased volume of sales and associated home mortgage financing across the NYC market. Mortgage application volumes at all money center banks have increased as well. The building sales are on pace with sponsors expectations. As absorption of units continues, additional lenders have expressed interest in provide financing to Azure purchasers. The best purchase price values are currently available in the building. This will change as we are working toward 50% sold and in contract this selling season. Note supply of other large residences in other comparable new construction buildings on the Upper East Side is continuing to diminish and due to strong demand for larger units price increases have appeared in other high quality buildings.

FOR IMMEDIATE RELEASE

AZURE RELEASES THE TOWER RESIDENCES

Spacious Corner Residences Feature Floor-To-Ceiling Windows
And Spectacular River And City Views

New York, March 15, 2011 – Azure, the premier new residential building on the Upper East Side, today announced the release of the Tower Residences featuring corner residences with floor-to-ceiling windows and dramatic river and city views.

The Tower Residences include two, three and four bedroom residences up to the 33rd floor as well as two four bedroom-plus penthouse residences. Two-bedroom residences range from 1,198 to 1,499 square feet, three bedrooms are over 1,800 square feet, and four bedroom residences range from 2,952 to 3,019 square feet. For additional details on current availability and prices for the Tower Residences,

mattonegroup - In response to your earlier post about comparing sq. footage vs. price vs. service charge, I did this and found Azure to be over-priced, at least for the apartments on the higher floors, which are the ones I viewed, and the ones with the highest service charge. One can't simply compare it to other condos and co-ops on the upper east side, because of that tricky issue with it being a leasehold, rather than a freehold property. Please don't feel like I'm trying to be a jerk here - I'm just pointing out the reality of the situation. I loved the apartments - but there's way too much risk at the current price level to make them palatable. I see that 31CD went into contract recently, so that's a good sign for the building. But I'm still too scared to sign up for a $6.5K monthly charge, that's only 41% tax deductible, and with the real kicker that in 70 years, I'll have to give back the keys or renegotiate another long term lease with the freeholder, the NYC Board of Education! If it's tough selling the apartments now, can you imagine how hard it will be when there's less than 50 years left to run on the lease!

17C, back on the market, first with a wisp of pessimism followed by a ray of optimism.
http://streeteasy.com/nyc/sale/589690-condop-333-east-91st-street-yorkville-new-york?email=true
08/27/2008Previously Listed by Brown Harris Stevens at $1,635,000.
08/29/2008Brown Harris Stevens Listing is no longer available.
03/11/2011Listed by Prudential Elliman at $1,600,000.
03/18/2011Price increased by 3% to $1,650,000
Things at the Azure must be looking up.

falcogold1, it must be because of the immediate release of the release of the tower residences. But in screaming block letters.

Cab ny I would be pleased to meet with you and your Azure sales person at the building to discuss your concerns and questions. Please note your interpretation of several of the aspects of the value and terms of the ground lease and its economic benefits are incorrect. As an example the coop has the right to purchase the land in the 75th yr or extend the lease for an additional 50 yrs. From the financial perspective the co-op can control the land for 125 years. The present value of the economic impact of the entire lease obligations over time when added to the lower Azure purchase prices is less than the alternative prices of other high quality construction condos in the UES market today. This is particularly the case for the Azure 4br UES 3,000 sf residences but this also applies to the 2 and 3br residences. The real alternative for you and other buyers in the market today interested in new construction larger units in the UES is to buy in a condo and pay a substantially higher price with lower maintenance. Compare the total carry of each alternative. Compare maintenance, mortgage payments, equity required, amenities ,views and asset appreciation over time. Truthfully there are fewer and fewer purchasing alternatives in the market each week as the large quality residential unit supply continues to diminish. I look forward to discussing your needs in person as opposed to on a blog

the advantage of higher purchase price and lower monthlies is that the monthlies do go up every year whereas the purchase price is set so the eventual higher mortgage payment does not go up every year...just one thought that is not specific to this building but relevant in my opinion

"Signed contracts for 5b 6b 5c 5d will be posted to street easy this week." [three weeks ago]

I guess two out of four is actually pretty good given how dismal progress has been in this building.

I also note the passing (last week) of the 4 month mark since any sale was recorded in ACRIS. I guess they're pacing themselves. Wouldn't want to sell too many apartments and miss out on the upside from that big rally that we all know is coming in pricing of this premium product - a high maintenance land lease co-op at 91st and 1st. That's gold Jerry. Gold! http://www.youtube.com/watch?v=j0qm0KUPeD8

Ain't that the truth! At a time when most other new developments are selling nicely, this dog continues to howl. Selling your cheapest units, while a great accomplishment considering their track record, doesn't do much for this project. When will they actually sell a unit above the 20th floor? They've been for sale for almost 4 years even though they claim in their ads that that are "newly introduced". The sad reality is that no one has bought one. If the developer is having this much trouble selling them now, what kind of problems are buyers going to have in the resale market?

Does anyone know when the bulk purchase homes will close? Why such a long delay?

My guess is that theyre not going to close but being flipped now. No idea though.

Flipped? No one is buying as it is. How on earth could they flip? Very interesting.

Residence 31CD, a customized 2 BR closed April 5th for $3,514,316. Residence 4A, the lowest floor 2BR closed April 6th for $1,054,366.

Seems like interest in this thread has fallen off. Any news? How many are sold? How many in contract? What about the enormous debt the developer has incured? How is that passed on to new buyers? Monthlies here really aren't that bad, but hard to tell how high they will go. Units here though are pretty great at the new prices.

Have they given up on trying to market this place?

Why would you market Hot Chocolate to Eskimos in the winter?

love the 4A color, listed as closed almost 3 years ago. if adverse selection isn't a great indication of the market, not sure what is..

31CD doesn't count since the sales agent told us that it was sold to a family member of the sponsors -- so none of the "tower" apartments have yet to sell.

I heard the same thing from the on site agent. Not one of the "tower" apartments has yet to sell in almost 4 years of marketing. Contrary to the press releases, they have been for sale all along. They are not "just released". They must be losing a fortune carrying this empty building month after month. How long can it go on?

Residence 4 F a 601 SF Studio closed April 6th. Residences 5 C and 5D are being combined. Closing will occur after construction completion. Residence 9D has a signed contract as of April 11. Residences 12 C and 12D are currently under construction. The customized unit will close in June. Due to recent contracts signed and floors with residents in occupancy, the lowest floor on which a 2,968 SF 4BR CD unit can be constructed is now on the 15th Floor. The lowest floor on which a 3,005 SF 4 or 5 BR AB unit can be constructed is on the 10th Floor. The Price is of this residence 10 AB $3,100,000.

one need only say:

LANDLEASE

of courese, that prompts:

WHY?