Wall Street

If you are planning to live in 75 Wall, you can't lose from a life or investment standpoint. I bought studio and will probably rent out. The combo of finish and atop a hotel will the amenties you want will get premium in NYC! I wish I could live there myself, never lived in a full service building with view like that. I am excited when this closes!

#2 - do you know of any other similar condos that are associated with a hotel like this that is getting a premium in nyc? I want to compare. Are the Residences at the Ritz-Carlton near Battery Park similar or no? From what I can tell, those units don't seem to command any more premium than normal condos... Thoughts?

Is there any pay parking at all in the FiDi??

FiDi is hot and only getting hotter - whatever you buy there now you will be very happy with your return. They just opened Thomas Pink, Tiffany's, Canali and Hermes. Last year there was nothing here. After one year with that progress/momentum I can only imagine what next year will bring and the years following when all the new construction/wtc is complete.

There is plenty of parking in FiDi just like the rest of Manhattan. Mostly garages underneath office/residential buildings. They are there you just have to look for them.

#3 - I don't know off the top of my head, but there will be quite a number of hotel+condo combos in FiDi, like W Downtown. W Hoboken residences sold very well, so I would think that they will price themselves pretty high in downtown as well.
I really liked 75 Wall - the Andaz Hyatt brand looked promising and you can't go wrong with Rockwell's design in the condo. The layout didn't work for me for the price tho - too much space wasted for bathrooms and hallways. But if you can afford it, then... :)

I think FiDi is a good investment because of Wall Streeters wanting the convenience of being close to work and because it's bound to get better as far as amenities go. But as far as a place to live goes, I'm not sold.

When we think of the Financial District and valuations we always look at the fact that the Freedom Tower and the newly empty 85 Broad Street will be home to something in the neighborhood of 500,000 new jobs in the area. Given the high $/sf for the commercial space, it will be 500,000 new high-paying jobs. Can't hurt for Financial District, Battery Park, and Tribeca.

Derek Lee
Managing Partner
L.G. Fairmont Group
http://www.lgfairmont.com

wow

Riiiggghhhhht, huge new jobs coming to the Financial District. 85 Broad? No, that won't become another office-to-condo conversion, not possible. The former AIG headquarters? No way it ends up residential, just more room for those high paying jobs. All those other office buildings converted to residential. Just a fluke. More Wall Street firms moving uptown, not very likely.

Just huge demand for downtown real-estate due the upcoming 500,000 new high-paying jobs! Buy now before you're priced out forever.

Relocating 500,000 jobs to the Freedom TOwer that are ALREADY in NYC does not result in 500,000 new jobs. You are an idiot Derek. I can't beleive you would sgin your name after such an ignorant post like that. If it was me, I would want to remain anonymous.

There is one job, however, that I would like to destory right now... that of your economic professor's.

And FYI: The biggest tenants in the Freedom Tower will be government agencies, not Wall St. firms. Oops, so much for the high paying jobs.

FIDI is dead after 5 pm. It's not a neighborhood, it's an office complex. During the weekends it's all concrete and tumbleweeds.

The cost per square foot in this building is ridiculous. The tax abatement is temporary and will bite you in the butt as taxes increase over the years. As a residential investment, FiDi is a marginal neighborhood.

Try renting in NYC for a year or more before you purchase, your taste in neighborhoods will change and grow, and you won't be stuck in your ill-chosen purchase.

Rent before buying, you might not like living there.

75 Wall is a nice enough building, but it's overpriced and as a result a *terrible* investment. Just look at the asking rents for units and what the carrying costs would be to buy the thing. You'd save a ton of money by renting in the building.

of all neighborhoods in manhattan, fidi would be my last choice as a place to live; next would be BPC--but then ive only lived here for 40 years

Maybe you haven't been to the FiDi for 40 years? It's changed quite a bit lately.

i go there regularly, but not often.....because i dont like it there...i like it other places...i especially like to live in places i like

As far as living down on Wall Street, I have lived down there for 2 years and love it. I had spent the previous 5 years on the Upper East Side. For those who don't like it, don't go! As far as the people who say it's dead on the weekends, they don't spend much time there. Actually living down there, my favorite time is on the weekends when you meet other locals in the bars/restaurants (and there are some great ones already).
I avoid places with the "work crowd" during the week. I also love having every subway nearby. I can go anywhere via subway and save money on cabs! I do NOT miss walking 2 or 3 avenues to get the 6 and transferring!

Also, I am still not sure if I am sold on the whole hotel/apt combo thing.

>FIDI is dead after 5 pm. It's not a neighborhood, it's an office complex.
>During the weekends it's all concrete and tumbleweeds.

needsadvice, I don't really care if you choose to hold onto these false beliefs, but your statement sounds exactly like, "New York is dangerous," "You need to remove all of your jewelry when riding the New York City subway--or you will get robbed," etc. etc.

Do you think those giant residential buildings and those Pace/the New School dorms are vacant??? Lots of people live in them, you know...and they DO get out after 5 p.m. In a way, though, I almost wish what you say were true because, frankly, sometimes there is just too much pedestrian traffic to walk my dog--including most nights and weekends.

Oh, needsadvice, you forgot another common perception held by people who have never visited FiDi: "There are no supermarkets in FiDi!"