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Penny Lane

Started by emlenox
almost 16 years ago
Posts: 2
Member since: Aug 2009
There is a lot for sale in this building. Am going to look at one of the apartments next week. Anything wrong with building or financials? Any info would be greatly appreciated!
Response by RE2009
almost 16 years ago
Posts: 474
Member since: Apr 2009

Not sure this will be overly helpful but i looked at it several years back and then again a few years later. Never got to the "is there something wrong" because the building has a weird vibe. Once you check it out you will see, and because the apartments were three floors the layouts are choppy.
That was my feeling but it may have changed or maybe a funky feel you like.
To be honest I always thought it could be cool to rent there, but not buy.
Let us know what you think.

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Response by takkyamaguchi
almost 16 years ago
Posts: 45
Member since: Feb 2009

It’s quite surprising to see the title of this posting. I currently represent a shareholder at the Penny Lane. As far as building is concerned, it's an old ice-cream factory converted into a co-op building, thus why each unit has it's character and extreme differences from its immediate neighbors.

As for the amount of units available in the building, and the series of listings came up today for sale, are currently owned by the Sponsor of the building. As of July 31st, 2009 and 2008, the Sponsor owned approx 65,000 shares of the total of approx 170,000 shares of the issued and outstanding capital stock of the Cooperative.

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Response by emlenox
almost 16 years ago
Posts: 2
Member since: Aug 2009

thank you takkyamaguchi for your very helpful comments. it just seemed odd to me that so many apartments where for sale at the same time. and i am new to the process, so also just becoming educated. the last time i saw saw many apts for sale it was a building in chelsea, that i have come to understand through this board has financial difficulties, etc.
i will be excited to see the apartments at penny land very soon

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Response by 30yrs_RE_20_in_REO
almost 16 years ago
Posts: 9880
Member since: Mar 2009

The building has odd layouts because it was a Thurcon rental building before it converted and just about all of the Thurcon buildings have close to those same layouts. Look at 211 Thompson St. 254 PAS used to look the same, but they substantially reconstructed it in the condo conversion.

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