The Visionaire

i know it well, other then price what type of info are you looking for?

looking at value in this market and what the current thinking is, seems like a lot of inventory yet to be sold but pricing remains steep.

Personally, I think you could try to make a "deal" if you are doing an all cash purchase.

how much off asking?

rangersfan, you have been circling this building for a long time.

You are now falling into the fallacy, though, of trying to value it for itself -- what should this building I like be worth psf?

But the BEST measure of value is to find a substitutable good. Since I know there really isn't any other comparable downtown condo (please don't lets' detour into a "Riverhouse vs. Visionaire" fight), you need to take stock, decide what apartment you would buy if you COULDN'T buy in the Visionaire, and then key your pricing off that plan B apartment.

It sounds hard-headed but it will work.

ali r.
{downtown broker}

I cannot tell you if 1100 psf is a good price, that is something you have to know for yourself. what i can tell you is it is a great building, very sold, great finishes, great management company. the building is run well and it does not appear they are lowering the prices. i think what you can do is negotiate the closing costs. only you know if that is worth 1100 psf
how much inventory do you think is left?

thanks front porch, that makes sense - a little hesistant to pull the trigger in this environment - that is all. RE2009, you probably know that answer better than i do but i think its around 60% sold.

i guess the other thing i would add is should a buyer be wary when a new developement is "only" 60% sold after a year of being open.

Of the 248 units, 126 have closed so far.

is this building a land lease as well?

Yes. Landlord is the Battery Park City Authority. BPC leases aren't like your run-of-the-mill situation, where a private landowner leases the land to a co-op, though. It's a whole other ball of wax, and is probably summarized here somewhere.

Anyone know why the taxes at RH are SO much higher than at Visionaire?

Individual buildings negotiated their landlease with Battery Park City Authority,they are all different.

Land lease tax mostly depends on the building's footprint. Take the size of the footprint and divide by the number of apts. I think you'll find it is a much higher ration than the RH.