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.
Completed and closings in 2007.
Come on people! There must be buildings that you are looking at waiting for the crap to hit the fan...
Linden. Failed to close a unit by the drop-dead date.
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.
which linden? Chelsea?
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.
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?
Apt23: nyc10023 was referring to Linden78 at Broadway and 78th.
http://www.streeteasy.com/nyc/building/230-west-78-street-new_york
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.
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.
Miraval Living; conceived when buildings were trying to "out amenity" each other
Thanks W81