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2007 crapshow completed building list

Started by positivecarry
about 16 years ago
Posts: 704
Member since: Oct 2008
Discussion about
Who's in the worst shape? And by this post, I mean what buildings were completed in 2007, where everyone is now upside down on their mortgage and can't sell or rent to cover their cost. Curbed linked to a article today about a building in Miami that's looking for anything they can do to cover the $100k a month debt they are running because of the 50 units that aren't paying the monthlies. Who could that happen to here? I nominate the Atelier, with 56 units for sale and plenty of units asking over $1500 a sq/ft in a neighborhood (West Side Highway) no one wants to live in. Let's start with Manhattan buildings, and then create a second one for BK or Queens properties if anyone cares.
Response by positivecarry
about 16 years ago
Posts: 704
Member since: Oct 2008

Completed and closings in 2007.

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Response by positivecarry
about 16 years ago
Posts: 704
Member since: Oct 2008

Come on people! There must be buildings that you are looking at waiting for the crap to hit the fan...

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Response by nyc10023
about 16 years ago
Posts: 7614
Member since: Nov 2008

Linden. Failed to close a unit by the drop-dead date.

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Response by maly
about 16 years ago
Posts: 1377
Member since: Jan 2009

You mean buildings like 1 Kenmare square aka 210 Lafayette? I find it hard to have that much schadenfreude, even when it comes to ugly buildings marketed as douchebag havens. Even if the owners actually bought because they believed in the "you're super special and deserve to live in a building that is so very special we plucked it straight from a Westchester office mall", yes even then I don't get any pleasure from their bad fortune.

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Response by apt23
about 16 years ago
Posts: 2041
Member since: Jul 2009

which linden? Chelsea?

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Response by aboutready
about 16 years ago
Posts: 16354
Member since: Oct 2007

positivecarry, this would be a much more fun exercise if you hadn't limited it to 2007. some of the earlier buildings are dripping with pain.

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Response by positivecarry
about 16 years ago
Posts: 704
Member since: Oct 2008

AR, if not 2007, then 2005 at the latest. I know there are buildings "dripping with pain", but I want to pick the next ones to go. Who's about to run through the reserve fund, a la Stuy Town?

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Response by West81st
about 16 years ago
Posts: 5564
Member since: Jan 2008

Apt23: nyc10023 was referring to Linden78 at Broadway and 78th.
http://www.streeteasy.com/nyc/building/230-west-78-street-new_york

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Response by patient09
about 16 years ago
Posts: 1571
Member since: Nov 2008

re: Linden..I walk by this building several times a week. They have picked up the pace of construction considerably in the last month. Looks like they are trying to finish up the lobby right now.

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Response by nyc10023
about 16 years ago
Posts: 7614
Member since: Nov 2008

P09: I avoid walking by the Linden because it's such an eyesore. The renderings were so deceptive. The interior finishes look nice - in fact, I changed various aspects of our then ongoing reno based on what I saw in the Linden showroom.

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Response by MAV
about 16 years ago
Posts: 502
Member since: Sep 2007

Miraval Living; conceived when buildings were trying to "out amenity" each other

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Response by apt23
about 16 years ago
Posts: 2041
Member since: Jul 2009

Thanks W81

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