Toll Brothers condos in NYC
Started by walshcoop
almost 16 years ago
Posts: 55
Member since: Apr 2010
Discussion about
are Toll Brothers conods in NYC more in demand than unknown developers?
imho, not really.
Toll Brothers isn't really known much in NYC, except for folks thinking of them as builders out of state. If anything, it might be a negative on a $1.5 mil condo... you don't want the guy who builds mcmansions...
yeah, but you do want the guy who has over $1B in cash
How $1B in cash is going to help a condo buyer?
The good thing about a big develper like Toll is that many of them jhave their own mortgage divisions and can afford to give better incentives.
if one goes into contract while the property is still under construction, the buyer doesn't have to worry about the developer lacking the financial wherewithal to complete the project. also, buyers have a warranty for (I believe) six years on new construction so any lawsuit would require a defendent with assets.