725 Riverside Dr Condo

I own a condo in the neighborhood on Riverside. The neighborhood is great - quiet, safe, good neighbors. Amenities are lacking, but growing...I'm sure you know the deal. If the developer is CittiHabitats, they are alright and they own all of the conversions in the area. No complaints really and the apartments are well built and affordable.

yeah, as aptdude09 said, that area is fairly quiet.
I am renting right next door, and at night it feels safe, and even in the summer not that much streetnoise there. Just don't be on the street level, IMHO.
From what I have seen people going in and out, it is a mixture of old-timers and new youngr professionals....and apparently a multiple Emmy-winner (the apt was for sale and had pics up, it was in the A-line)
I actually looked at 11E and 8E, 11E was really nice, but I thought the kitchen/bathroom layout left a lot to be desired.....8E had that great medallion in the floor, but same issues with k/b...rooms are nice and big.

Hi Melissa,

I looked at several apartments at 725 RSD a while back, and after doing some further research, felt uncomfortable with making an offer. Here's why:

1) The landlord/sponsor of this building, as well as many others on RSD in that area (700, 660, etc), has a somewhat sketchy history. It is called the Pinnacle Group and I would google it so you can see for yourself. They have a history of buying distressed buildings and using somewhat harsh tactics in order to evict tenants or to otherwise raise their rents to market rate. I think I smell a rat here...
2) This building, I believe, was purchased by Pinnacle from one of the city's worst offenders: Baruch Singer, who had neglected the property for many years while their tenants basically lived in squalor. While Pinnacle has done a great deal to improve conditions (in order so they can ultimately increase rents), I felt I could not trust a building that was until recently very neglected and with a questionable history of upkeep. I would ask your broker to furnish proof of all improvements made to this building prior to going into contract.
3) The conversion has not yet resulted in any major cosmetic improvements to the building, as far as I can tell. The lobby is decent but not nearly as nice, as say next door, at 730 RSD (Beaumont, rental). The hallways are kind of drab and not too inviting. These are things you need to consider, since at some point the bank will send an appraiser to look at the unit as well as the building. Also, the "doorman" to this building is basically a security guard (rent a cop), not someone who is going to pick up your packages, open the door for you, hail a cab, etc.
4) The tenants who still rent here are very nice, but there are a great many units still under rent control/stabilization, which may affect your condo's value. While this may not make a difference to you, in the minds of many people this is not ideal. I for one would prefer a building where a great majority of units are priced according to market value. This allows market forces to run their course.
5) I did indeed speak to a tenant in the building, and I would encourage you to do the same. The one I spoke to was very nice however expressed a great many complaints about living on the ground floor. She did also mention that when she had lived higher up, none of the same problems existed. Since I was looking at a ground floor unit, my conversation with this tenant really put me on the other side of the fence.

Having said that if you still have your heart set on this building, do go in low with your offer. I am quite sure they are willing to accept offers much lower than asking. There have not been too many closings in this building and their Fannie approval will end sometime in the next year, so they really need to move units fast.