what to offer on new developement?

That's the problem with people today, they would rather pay 100, 200 or 300k more than look "foolish". Everyone has bought into broker hype and the psychology of high prices. In the old New York, people weren't ashamed of looking for a bargain and they were better negotiatiors. You could submit a lower offer and not have to worry about a band of idiots coming after you, giddily bidding prices higher and higher and then bragging about their stupidity to the whole world. In general the "crowd" use to be a lot more savvy. For the most part people recognized "ask" was "ask" and autmotically made a discount in their minds.

Anyway...... When you see a place you like, call four or five friends, have them see the same apartment at different times. Then have each submit lowball offers, 10, 20, 30% below ask. Hit the sellers hard, really hard, don't be afraid to bid low. At this point you have to shock the market out of its delusion...... Be tough, hold your ground, come across as serious...... when the brokers submitting the offers bitch and moan, remind of their obligation to submit all offers and if they don't tell them you might call the DOS about their licenxes. Don't be afraid, stop acting like you have to subsidize some seller's fortune. If enough people do it, eventually some quote or story will get picked up by the New York Times or other publications and perceptions may start to change.

wow, I am pretty sure the OP was asking for specific advice applicable to their situation and not how to create a widespread paradigm shift.
Anyway, no harm in offering less and/or asking the developer to cut down the closing costs (which are high in a new dev, and also easier to get them to egree to do than lower the price) It also depends on how well the dev is selling out, use your best judgement. The onsite sales office btw is more likely to be forthcoming with read-between-the-lines info than a selling broker in a standard deal so feel them out as well. Good luck!

Man oh man, that #2 sure is one bitter renter!

Go to curbed.com and search for the developments you are interested in. Some good comments have been made that warn you against some of them.

Depends on the development and the developer. I'm closing on a place in Harlem and the developer built a quality structure....and he knows it. This has led to no contingency and little room for price negotiations. Good luck!

Thankyou for your response. You said that you were closing on a place in Harlem. Do you have any recommendations with regard to Harlem?! (broad spectrum question, I realize!) We are looking at 50 west 127 and also the Fitzerald on 117. There are many places there-----and just wondering if you have a developer with whom you feel confident? Thankyou again for your post.

I would definitely say stay away from the Fitzgerald...I saw how that place was pieced together...it's laughable...really. For example, the colored panels on the exterior of that building were fastened to thin wooden sheets which were then bolted to the wall...I'd give it a year or two before those colored exterior panels need maintenance. I obvisously didn't get to see how they built it from the inside so I can't speak to that. Now when you're talking about 50 West...quality seems to be a sure thing...especially if you've compared it to other developments in the area. However, I will say that the developer knows quality and is tough on pricing and provides no contingency...but you would be hard pressed to find a similar structure in all of Harlem. No one currently builds like that in Harlem...I mean he even put up a limestone facade, mahogany window frames, etc.....and did you see all the equipment/machinery on the roof! Most of the new developments all look alike and are pretty much cookie cutter structures. FYI - the developer of 50 West also built Carriage House on the corner of 124th Street and Frederick Douglas and he is also building the place right across the street from it...both are very high quality. Good Luck!

#2 must have a long commute to work...

As I said, search curbed.

For example:
http://www.curbed.com/archives/2006/07/11/luxury_condos_and_visits_from_mom_on_w_127th_street.php
http://www.curbed.com/archives/2007/05/11/development_du_jour_5th_on_the_park.php

We just got a bid accepted for a condo in East Harlem - at a small (3%) discount off the asking price. In a previous building, the developer was inflexible about budging from the asking price (admittedly in a more "prime" neighborhood). Each building is different and it doesn't hurt to bid at a discount but prepare to be rejected and perhaps submit a higher bid. For what it's worth, there's plenty of inventory in Harlem.

Why would you go to Spanish Harlem?

Talvez habla espanol.

#11 here - Spanish Harlem condo. We chose Spanish Harlem because:

1. Attractive prices
2. Upside potential (new condos, East River Plaza, 2nd Ave Subway)
3. OK on safety - did research on the ground and NYPD Compstat site

As an additional comment about offers in a new development, before we got this bid accepted, we previously bid on a smaller Upper East Side condo (new development in the East 90s). The seller refused to budge from the asking price. So, you might find that sellers in less "prime" neighborhoods are flexible on price.

everything is negotiable

I think you should have gone with Central or West Harlem...but Good Luck anyway!