Riverwalk condos sell for 650 psf. is that manhattan?

Comp for Riverwalk is tough. It's not really Manhattan, and it's land lease. Except for the other 2 related buildings the rest of RI housing stock is rental, subsidized, or quite distinct.

Um, Riverwalk is really Manhattan. In fact, it is considered part of the Upper East Side.

But clearly the commute takes a toll on the prices.

I would like to know what people think about the land lease situation for this complex, though.

Fluter. There is an entire discussion on this already. Just search for Riverwalk in the forum. And if you are really interested into digging into this issue, call and ask the sales office for the page of the offering plan covering the ground lease. It's a good and easy read. Explains all of the cost/benefits. Or rather... just costs. You can even download a copy of the NYC/NYS ground lease from the RIOC website. With respect to RI being UES. Go ahead and buy it as UES property, and then try to sell it as UES property.

Land lease properties lose value, and with a pretty uncomfortable curve, the more you get close to the lease term
For Jupiter, you don't own the land! how good can that be?? only in a moment of craziness people buy land leases, unless you know you can, and plan to download it pretty soon
Check the latest moody's forecast on manhattan Re prices
Honestly..

> In fact, it is considered part of the Upper East Side.

Maybe by people from Ohio...