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greenwich club residences

Started by Keba5
over 18 years ago
Posts: 8
Member since: Jun 2007
Discussion about
Has anyone been looking at these residences? We looked last week and some of the apartments were lovely. The quality of the workmanship seemed above the standard of new buildings. Still, it seems that the amenities and concept is a bit of a pipe dream. Has the neighborhood developed in anyway so that it is not completely deserted at night? Any information would be greatly appreciated!
Response by anonymous
over 18 years ago
Posts: 5
Member since: Apr 2007

I live across the street. the neighborhood is not totally deserted at night, but pretty quiet - it's definately safe. Merchants Cafe has a good patio, romi - the bar in 88 greenwich is closed. Greenwich st has the 3LD theatre, Cordatos and the PCL.

The amount of construction is nuts and about to get worse. the 2 parking garages on washington are coming down, 47 west street is coming down - plus the wtc site which hasn't really gotten going full swing yet. You should definately come down in the morning when construction is going in full force to get an idea.

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Response by anonymous
over 18 years ago
Posts: 14
Member since: Jan 2007

take a look at "88 greenwich" thread from 6 weeks ago for some more comments

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Response by anonymous
over 18 years ago
Posts: 52
Member since: May 2007

I almost bought in 88 Greenwich. My lawyer killed the deal due to some bad things in the contract; but in retrospect, I'm glad he did. The finishings are indeed nice, but then you realize how much more you're paying per square foot than the surrounding buildings, and you have to wonder if the money is worth it. Also factor in that all of the southern views in this building will disappear within 2-4 years (there are plans to turn the parking lot on the south into more high-rises).
There are some non-standard restrictive phrases in the contract. For instance, as long as the developer still owns any unit in the building, you can't sell your unit without getting first getting permission from them (or 3 years after you purchase, which ever comes first). There was also some weirdness where the seller does the punch-list walk-through, not the buyer.
The real issue, though, is price. All those nice finishes mean you're paying a very steep premium over comprable buildings, and I ended up getting a much better deal elswhere.

I actually like the building, but not at these prices.

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Response by anonymous
over 18 years ago
Posts: 52
Member since: May 2007

I almost bought in 88 Greenwich. My lawyer killed the deal due to some bad things in the contract; but in retrospect, I'm glad he did. The finishings are indeed nice, but then you realize how much more you're paying per square foot than the surrounding buildings, and you have to wonder if the money is worth it. Also factor in that all of the southern views in this building will disappear within 2-4 years (there are plans to turn the parking lot on the south into more high-rises).
There are some non-standard restrictive phrases in the contract. For instance, as long as the developer still owns any unit in the building, you can't sell your unit without getting first getting permission from them (or 3 years after you purchase, which ever comes first). There was also some weirdness where the seller does the punch-list walk-through, not the buyer.
The real issue, though, is price. All those nice finishes mean you're paying a very steep premium over comprable buildings, and I ended up getting a much better deal elswhere.

I actually like the building, but not at these prices.

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Response by anonymous
over 18 years ago
Posts: 14
Member since: Jan 2007

I agree with #4. I also looked at it, thought it was a nice bldg, but definitely not for the prices that they were trying to charge! I thought it was WAY too expensive $ per sq ft for a neighborhood that can hardly even be considered financial district because of its off center location. South views will most likely be gone, and the north side... all the construction that'll be going on in the next 5 years will kill any value of the units.

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