Georgica

location is so-so, and it looks odd, wrapped around some tenement buildings.

yes it does look a little odd, I think the inside work is really nice though, good finishes. but doo agree with it's odd shape. DOes anyone know if the entrance will eventually be on 2nd avenue? A lot of subway construction going on too.

im very close to pulling trigger here. i want to be in 70s/80s on east side and options arent as plentiful as one would think. i like georgica because relative value is very good, insides are really nice (inspector told me better than most new developments he's looked at recently), ceiling height is good, upper floors have great view, amenities are solid, they are bigger apartments. i think they officially crossed 50% sold and so the prices probably drift higher relative to market. 2nd avenue subway is a negative but i think the construction is mostly undergound and entrance will be on 86th and 2nd on north west corner. the structure is a negative too but i can totally live with that as a sacrficie to make.

> i want to be in 70s/80s on east side and options arent as plentiful as one would think. i

I'm not sure what you mean... its the biggest residential area in all of Manhattan. Which just went through its biggest construction period in years. And is at relatively low demand because of the subway construction and other factors (mainly hot cycle).

There are tons of options for new construction.... what do you mean?

please show me the options for 3-4 bedrooms between 2.5mm and 3.5mm that are better than georgica. you get views, nice finishes, amenities, some have balconies, nice lobby, high end appliances, etc...maybe for studios or 1 beds or 2 beds there is ample supply but for what im looking for i dont really see it. georgica is much better value than brompton or lucida as long as you dont mind being farther east.

i don't know if it's your cup of tea, and it's even further east, but the sponsor at the cielo has been letting the remaining 3/3s go at shockingly low prices. i don't know if they have any left, but it's an established building, and i think carlisle generally puts together a decent product. they don't have any larger units listed, but some of their recent closings never had listings. much lower risk, i'd think.

http://streeteasy.com/nyc/sale/73672-condo-450-east-83rd-street-yorkville-new-york

keith, gocha.

Azure?

I was going to say Brompton/Lucidia until I noticed you talking about pricing. I agree Georgica is cheaper but I don't know if that necessarily means "value". Its just a tradeoff, you pay less and get less (location).

What about the smaller buildings or conversions? Every time I walk around, I still see tons of on-building advertising.

Running a search on $1k-1500 psf UES for new dev / conversion 3 bedrooms got me 35 listings... a bunch are georgica but there are others.

300 East 79th Street keeps popping up.

Also, what about the slightly older buildings? Empire on 3rd ave, etc.

You have to figure that a perfect storm hit Georgica. Those prices are definitely less than I remember. But, that second ave construction is horrific (good friend is between 2-3). Besides the non-accessibility and the noise, there are rats all over the place. AND georgica came to market a little too late.

So maybe its in the right spot... a higher end product where almost nobody is looking for it. I guess few folks are looking for $3.5 mm apartments in construction zones anymore.

I do like their finishes... they manged to do a decent job of combining the floor to ceiling window thing with some prewar-type detail. Sinks a little too much for my taste, but overall decent.

appreciate the comments. im close on an A line at georgica on high floor. check them out. 4 beds, 4.5 baths, 2400 feet with balcony and fire place and great views west, south, east and north. 300 east 79th is ok but more per foot and not nearly the quality. i agree that west of 2nd is worth more but im not a fan of lexingtion avenue at all/ brompton has best location of 3 but high floors comaprable to georgica are much more money...the empires of the world are also more money and not as nice apartments though far better locations...the subway will definitey suck for a few years. hopefully most of the work is underground.

keithw,
you need to speak with me offline. send a message to my email nyrealestatefan@yahoo.com

How much do you think the lower floors in the back should be selling for per sq foot?

if you haven't yet deduced that keithw is selling there then you are completely braindead!

Keith, is the previous post correct? If it is, you should disclose such things. This is the kind of stuff that gives brokers their well-deserved bad reputation.

"appreciate the comments. im close on an A line at georgica on high floor. check them out."

I was in there a bunch of months back, but not since closing.

"i agree that west of 2nd is worth more but im not a fan of lexingtion avenue at all/ brompton has best location of 3 but high floors comaprable to georgica are much more money"

Yeah, brompton has the Stern name. And right on 86th, yes, lex is messy but thats because its the train. A few blocks up or down is very different (as is the case on 2nd as well). 86th is the game changer. But the subway is really killing second ave.

"hopefully most of the work is underground."

unfortunately, its still an absolute, absolute mess. Second ave. is a crapshow right now, and even the parts post the "major" work are still all torn up.

the tunnel excavation will take about 3 years. the mess, noise, and disruption will be monumental, like nothing you have ever witnessed, unless you grew up in the Bronx where they put the Crosss Bx Expressway. the excavation will dig the hole and everything dug up must then be brought to the surface and trucked away. this will necessitate work day and night. 2nd ave will be a living hell for at least 3 years till the excavation is done and things will not be wrapped up for about another 3 - 5 years after that.

take a look at keithws shilling for Georgica on the Isia, a competitors board. It is clear the guy is a broker based upon his verbage and his interest in going anonymously (lol!) after a competitors product.

Can't blame him, he's appropriately desperate

not a broker and not using a broker. genuine comments. find me a better deal for 2400 ft, 4 beds, outdoor space and views...

reason you saw me on isis site was i looked at that building too. in fact, i looked at brompton, lucida, isis, laurel, manhattn house georgica and some older bldgs on upper east side. if you are ok with subway risk and 2nd avenue, then you get much, much more bang for your buck at georgia. very cynical people on this board...

Some parts of train will be tunnel, and some cut and cover.... so there will be some differential on parts of 2nd ave.

But it will all suck. Not just the mess and noise, but the extra traffic, and the problems just crossing the street, and the rats (guess what opening up holes in the ground does, seriously, this is a big problem).

And I think thats priced in for Georgica. If you can handle it, makes the upside better. But be sure you can handle it.

"take a look at keithws shilling for Georgica on the Isia, a competitors board. It is clear the guy is a broker based upon his verbage and his interest in going anonymously (lol!) after a competitors product. "

So I guess we can start discounting all his talk about the finishes...

wlaked by this place the other night...was shocked to see how many apartment now have people in them...alot of places were lit up

75% closed

They seem to be a little more with it than the others, dropped prices when the market was down. Keithw pointed that out a few months back. Seems like they negotiated:

61 previous sales listings: $1,413 per ft² (median
43 recorded sales: $1,215 per ft² (avg)

$200 buck differential, not small.

Looking at Isis and Georgica but having been more focused on Isis because of price. Any thoughts?