What is more sellable?

what is a 1D?

Shah, at the moment it's hard, possibly harder even than normal, to sell in BPC. There's renewed focus on the land-lease situation, Fannie Mae is refusing to buy conforming mortgages (http://therealdeal.com/newyork/articles/fannie-mae-to-step-up-battery-park-city-financing) on BPC units until they conduct a review of the land lease. Bloomberg is making noise about taking it over from the state (http://www.downtownexpress.com/de_363/liu.html)

I previously owned in Tribeca and did see smaller units (especially if they had water views or were in a top building like the Hubert) going for more than my current 3BR BPC place.

"salable" is the word.

which new development, are they the same price and what's your time frame?
oh, and view?

1 D is den/office. I mentioned the price difference re2009. Time frame is future maybe 5-10 years later. BPC condo in new development building with water views.

Thanks AMinorSatan for the links.

What are the monthly charges? BPC condos typically have very high taxes/maintenance to pay for the ground lease and other pilot charges. Even if the financing issues are solved, the high charges will depress the resale value.

How long do you plan on living in the apartment prior to selling

tribeca

tribeca

AminorSatan
That would make a great band name.

Tribeca. BPC is generic, cookie-cutter crap.

Define "charming".

Your idea of "charming" could be someone else's idea of "stupid layout".

As far as saleability, "cookie cutter" will always have broader appeal than something so unique that only certain types of people would find it "charming".

And frankly, a proper third bedroom always trumps a den.

And the apartment with the most bathrooms always wins.

Any additional thoughts?

BPC is flawed; high ground rent, land fill stability and flood zone issues all depress fundamental property values there. Picking up a BPC condo on the cheap might be a smart purchase because the news would seem to only get better from here. But the WTC needs to be substantially built out for that to happen.

@PMG when you say "news would seem to only get better from here" were you referring to a specific issue other than WTC being built out? Or were you generally referring to the fact that the current circumstances are poor and a general statement that things should only improve with time? Sorry, just wanted to clarify and make sure I'm understanding.

Thanks for the insight on the high ground rent, flood zone, landfill stability - all agree that these are risks. That's why they are being priced around $1,000 psf, where 200 Chambers and 101 Warren (across the West Side Highway w/o the ground rent issues) are being priced at $1,300+ psf (I saw a 3BR priced at $3,700 PSF at 101 Warren!)

Tribeca is better. BPC is not cool for everything PMG said. I don't think things automatically get better from here unless those land agreements were redone.