Murano

lot of negative comments on Curbed. Pictures looked decent though.

I would agree with the negative comments. Unfortunately I was greatly underwhelmed by the building. Aside from the fact that they were probably about a week early to show the apartments (lots of finishing details still incomplete), they could have at least cleaned the units. The beer bottles and trash strewn about didn't add to the ambiance.

The pros, as I see them:
- Good sized units with mostly reasonable layouts (except for the smallest 1BRs that have a big structural column virtually in the middle of the bedroom)
- Higher floors of the north facing side of the building have decent views and feel private enough
- Relatively low projected maintenance relative to other buildings nearby.

The cons:
- The building has some odd features that are annoying and/or may be costly to maintain (all white lobby will need constant cleaning, moat feature, light show??)
- Most units have very small outdoor spaces
- The finishes are completely basic (no stove hood, very basic freestanding microwave, tiny non-digital oven, bizarre Corian countertop/sink combo, contractor-grade tiles and tub
- Poor construction finish (very visible gaps between fixtures, sloppy mouldings, etc.)

I was there and think a there were the H line 2 bedroom model was excellent. I am concerned about the noise from the train, any thoughts? What do people think about the prices, I assume the asking prices are about 20-25% above what they really hope to get, at least to lure some popele in. Thoughts?

I would agree that closing around 20% below asking (maybe not quite that low for some units) would be reasonable. I know they already have one or two units in contract/sold...would be interesting to see if they've been negotiable at all, of if they caught those few buyers who are willing to pay asking price without giving it a second though.

They told me today that they have no signed contracts, not sure where your info came from. The agent also told me to make an offer and don't be shy!

Last week I asked the broker to send me price and floorplan of one specific unit and he responded that the unit had already been sold implied that one other had been sold as well. Maybe it was just a sales tactic to get me anxious. (If so, it didn't work...)

If you decide to make an offer, let us know. I'm interested to see how these new LIC buildings unfold in the next few months.

was told at the open house yesterday that 2 units are in contract; 1st floor and 10th Floor.

I also visited and the agent said to just make an offer and something about knowing the listing prices are on the high end, so I assume there is at least some room for negotiations.

I wouldn't mind living there, but also wasn't super impressed with the finished and building. I agree with jcmil's pros. The kitchen is the major con - everything is so starkly white, which I could deal with, but a lot of it looked cheap as well. The corian countertop/sink combo looked like plastic and would look really gross if it got dirty. Stovetops were all on the island, with no vent, not even a microwave vent. The kitchen just didn't seem practical for someone who cooked. If you really had all your spices/oils for cooking near the stove, the counter would look so cluttered and gross that you probably wouldn't be using the island as a eating area as well. I didn't mind the bathroom, but I probably would get much use out of the modern looking, yet impractical tub. Floors are some oak composite, not real hardwood - I'm not sure if there is some benefit to this, but I would prefer real hardwood. You have to buy your own washer/dryer. As for the common areas - hallways seemed a tad narrower than other buildings, gym is really small, lobby is also really really white. Also, I have no idea what the noise level is like during the weekdays.
But I would probably be ok with living here since the layouts are decent enough, I would just expect a significant discount from their current asking prices.

I liked this place. My only concern was the LIRR and how much noise it would make. I'm going back during different time periods to see how it is. I can see how the kitchen/stove would not really work for a cook or someone with kids, but for someone who eats out a lot it shouldn't be an issue. My only negative comment about the kitchen was the microwave. In comparison to the building, the Sharp microwave was very cheap looking and looked out of place in a luxury type building.

Anyone know when completion is expected? I would assume the building will have the same noise (humming) issue as hunters point. The trains idle there early morning to about 6PM M-F.

Do you mean 6 am? I passed by one evening around 6:30 PM and didn't see or hear any LIRR trains.

I'm not sure what time they arrive in the morning, but they are gone around 6PM.

not a good location due to LIR train noise

I visited while the train was idling out front. The noise is vey noticible in lobby and lower floor units on the south side facing the train. On the higher floor units (6 ) and on the north facing units there is very litlle noise. Very low monthly charges, but may change after move in.

condos in LIC boom during the housing boom but at this point they have no value. I wonder if Murano is a product of housing boom with subpar quality condos.

asdfasf1234, what time and day of the week did you visit?

afternoon, weekday.

Looks like 10 units are under contract, anyone have insight on PSF that was offered and accepted?

Are those listing taken down or is it under contract? I thought there was a seperate section for listings under contract.

joseesq, where did you get that info from? Last I heard, they had 1 in contract and working on a few.

I see 10 units listed as recorded sales, but no prices. Maybe they were just taken off the market as they were never listed as "in contract" and the individual listing says "no longer available."

just means that they were taken off. There won't be any recorded sales until closings happen, which is going to be months away.

yeah, I got that. I was hoping one of those 10 buyers could give us some insights on PSF.

what do you like about the bldg? no stove hood, no w/d, cheap microwave, composite (fake) wood floors. there needs to be major price cut.

I liked layouts. The units I saw can actually fit a King Size bed.

I agree with the layouts, they have decent size bedrooms compared to other buildings that I have seen. According to the developers, they have sound proof windows, so the front facing units should not be affected by the train noise.

i went on a saturday and checked out one of the front facing units. I don't think there were any trains idling, but even with the windows closed, I heard an annoying, decently loud, constant buzzing noise coming from outside. The agent didn't know what the noise was. But the point is...even with the sound proof windows, don't assume that you won't hear the trains (or whatever else) with the windows closed. I would check out the apartment during the train idling times to make sure you can stand the noise level that comes through.

I visited when the trains were idling. To me it wasn't noticeable unless you had your ears by the windows, but that's just my ears. I'm sure One Hunters Point (next door) went through the same hurdles in the beginning stages and now it's nearly sold out. In terms of the finishes, I can see how this can be a minor issue, since things can be changed, but a layout is a layout.

hunters point is still 40% unsold

I was told 85% sold out. Maybe someone who actually lives there can elaborate?

85% sold out or sale tactic?

The listing agent states that both HP and HV are 85% sold out. Don't know about Murano, but I did notice the listing price increased on several units in the past few weeks.

greenlc, I read in the DN that an Amtrak/LIRR building nearby has had a malfunctioning alarm that has been going on and off for the past 2 weeks. Perhaps that's the sound you were hearing?

The DN article:

http://www.nydailynews.com/ny_local/queens/2010/07/23/2010-07-23_weeks_of_shrieks_from_building_induce_lic_headaches.html?r=ny_local/queens

I made a visit to one of their open houses last week and the sales office seemed to be pretty busy. There were several groups in the lobby as well. Perhaps interest is picking up, hence the increase??

Demand is the logical response, but based on Streeteasy data, I am guessing about 12% of the units are in contract. Hence, I am skeptical that demand is the reason for the increase in prices.

I have, however, noticed this pricing tactic before in LIC. After a few units go into contract, the developers increase the price to test the market to see if anyone bites at the higher price and to possibly entice people on the sidelines, like me, to jump in before prices get too high. The developers also seem to increase the listing price to ensure that even if they give a 15-20% discount they are still better off than sticking to their original listing price.

Another possibility is FHA designation. Murano is now FHA approved. I have seen a few condos increase their listing prices once they received FHA approval.

I find the whole thing a turnoff. 1 BRs in LIC are selling from low to mid 400Ks, but developers keep listing them at around $500k-$510k.

Getting FHA approval will definitely increase interest as that attracts another pool of people. I wouldn't only focus on asking prices. you should offer what you feel comfortable with and see what they come back with..

Was told by the agent that they have 10% in-contract and expect to have a few more contracts signed this week. hmmm..not bad for being on the market only 2 months.

"I find the whole thing a turnoff. 1 BRs in LIC are selling from low to mid 400Ks, but developers keep listing them at around $500k-$510k."

Enlighten me, what units from which development are closing in the low 400s for 1 bedroom?

L Haus #3L - 395.5k
The Foundry #3D - 427k

Here a few more examples:

-Ten 63 - #6A - $415k (714 Sq. Ft.)
-The Foundry (quite a few, but these are the doozeys)
*#2P - $456,300 (includes parking space)
*#2Q - $446,160 (includes parking space).

It will be interesting to see the difference between the list and sale price once closings begin on the other new developments.

Here are a few more examples:

-Ten 63 - #6A - $415k (714 Sq. Ft.)
-The Foundry (quite a few, but these are the doozeys)
*#2P - $456,300 (includes parking space)
*#2Q - $446,160 (includes parking space).

It will be interesting to see the difference between the list and sale price once closings begin on the other new developments.

On a per sq ft basis, 2P and 2Q at The Foundry sold for 660sqft and 680sqft.not factoring in parking (not sure how much spots generally go for). These are also on the 2nd floor and 3D has no view as it faces that big yellow bldg.

Pretty much every 1bed in lhaus is low 400's or less. PLenty of mid 400's at the powerhouse.

This is not a low 400's, but notable enough to mention:
- The View - Apt#406 closed for $499.9k, 762 sq ft, directly west facing

Hard to compare Lhaus with the other Hunters Point developments. Lhaus has had their share of problems and isn't in the most desirable part of HP.

I can buy the argument that L Haus should be excluded as an outlier (though I don't understand why HP/HV and Murano are considered to be a "better" location).

As far as parking at The Foundry, I was told $50k.

Pricey parking spot. I would have guessed 20-25k. That drops the psf on both 2nd floor Foundry sales below 600. They'll have a hard time selling any 1br without freebies over low-mid 400s.

Do you feel the diesel engines idling nearby HP/HV and Murano cause both buildings to suffer from poor air quality? Is there any way we can check this for other buildings?

It's hard to tell what the parking spots at The Foundry actually sell for because there are all over the place. A parking spot recently sold for $32k, whereas another sold for $10k (smaller spot, maybe?).

Air quality is a concern with the idling LIRR trains and the Queens Midtown Tunnel so close.

Air quality likely not a concern at the View, but what about other developments (1 Vernon Jackson, Foundry, Powerhouse, etc). Do any of them have any thing nearby that qould cause probs?

I don't feel that the train or tunnel is any concern. We live in ny, we breathe in more pollution everyday waiting to cross the streets of Manhattan.

Any thoughts on the Murano and the finishes? Has anyone put in an offer yet?

I'd like to hear other people's opinions as well. I'm looking at their 2 bedroom units and think the finishes are good. The building has a very sleek, modern look to it. Good size private balconies with nice views of the city on the north facing side. Appliances are high end (Miele and SMEG), better than most common brands you see. Floors are made from oak and is supposedly environmentally friendly. Only thing I didn't like was the microwave, but I can live with that. In terms of the location, you can't beat it..1 block away from the water front, a block away from the train and stores on Vernon.
For some reason, my 4yr old seems to really like the Murano, maybe its the lights :)

Good size layouts, low common charges..lowest I've seen in the area, Central A/C Heat, kitchen is to white, w/d hook up.

I haven't seen it in person yet, but the kitchens (as pictured on the web) seem very unpractical to me: where do the toaster oven, blender, expresso machine, etc., etc. go? All on that little island? That would be ugly and take up all the counter space. Maybe people don't cook anymore, but for those who do, that kitchen won't work. And several of the 2-bedroom layouts have bedrooms that are very small. I'll keep waiting for a layout in LIC that beats my rental.

has anyone closed on an apartment here yet?

Went to check out Murano...

Pros: Nice design, decent size rooms and good walk in closet, central AC
Cons: Super small balcony, wasted bathroom space ( that tub is not very practical, very uncomfortable to sit in), w/d NOT included, one piece counter seemed a bit cheap, very narrow hallways, and not much amenities...

I think the two bedrooms are priced a bit too high for the location. The corner two bedroom units don't have protected views because the warehouse on the west side might become another residential building couple years down...

Who said they were composite wood floors? the website advertises them as hardwood. Just wondering where ppl are getting this information.

go check it out. its not real hardwood floors.

I don't remember the exact materials in the floors at Murano but it was not real hardwood. BTW, most brokers and realtors market any wood looking floor (from Pergo to cork) as hardwood.

its composite oak. floating floors - not nailed down. this is what the marketing agent told me. go look at it yourself, you can tell. you can't sand down composite floors like you can with hardwoods.

So I did a quick search on engineered/composite floors and it is indeed real hardwood. It's not the same as pergo or laminate floors. Engineered wood can be sanded, although limited.

"Engineered wood, too, is real wood. It is a sandwich of 1/16" to 1/8" of finish wood on top and non-finish plywood underneath. So, what you're looking at is 100% genuine wood.But did you know that it's actually better to have plywood underneath? That's right: the middle layer of plywood is laid cross-ways to the finish layer, providing additional strength to the flooring."

http://homerenovations.about.com/od/floors/a/artengineerflr.htm

Murano does not have SOLID hardwood floors. The planks do not come from a single piece of timber. That is what the agent has conveyed. If you are looking for SOLID hardwood floors, which is what most people think of when they talk about real hardwood floors, the Murano does not have it.

There are basically 3 common types of floors - solid, engineered, and laminate. Both solid and engineered are real hardwood. I agree that Murano doesn't have solid hardwood, but it does have engineered hardwood floors.

http://en.wikipedia.org/wiki/Wood_flooring

I see, engineered wood would be like a thin hardwood layer on plywood. Of course they do this to save money with one possible advantage, that being that it will actually warp less over time. In old building with full hardwood, you'll see some warping. its not the same as the wood laminate though, laminate is much closer to fiberboard, but again, doenst have the appeal of solid hardwood.

Out of all the buildings that I've seen in LIC, none had solid hardwood floors. All had engineered oak hardwood floors just like Murano. Some of course looked nicer than others, but don't be fooled by the other buildings.

vere has hardwood floors

powerhouse has american walnut floors. the foundry has brazillian cherry floors. both solid hardwood, not engineered.

asdfasf, I will have to disagree with the Powerhouse as I was there recently. The on-site agent mentioned herself that the floors were engineered hardwood floors, not solid hardwood. The top layer is real wood, everything underneath was man-made. She was explaining how easy it would be to change the color if it wasn't to my liking.

Has anyone put in an offer here yet?

I was a little put off by the train tracks on one side and then the obstructed views on the other. I think Powerhouse is nicer with better amenitites, 1VJ is MUCH nicer, the units are stunning.

What is Smeg? Does anybody know if it is a good brand? I like the bathrooms but the kitchens are not great. No hood, small weird sink and Smeg. The tub is weird as well, like an oval bucket, not particularly appealing. The balcony is tiny, it's really a micro-juliet.

thestreet-ok i stand corrected. what about the foundry and vere?

I visited the Foundry a while back and wasn't impressed. Their floors didn't look any better to me. I could be wrong, but their website only says hardwood floors..nothing about being solid. I haven't visited the Vere as I wouldn't purchase in that area. 1vj probably has the thickest floors, which is clearly reflected in their prices. I hated how 1vj didn't have a built in microwave. 1vj's microwave is even cheaper looking than what you get at murano.

SMEG is a European brand. I had a SMEG oven and fridge in my last apartment and had no problems with them.

History Lesson: 3 years ago at the TOP of the housing market "Hunters Point" was selling one bedroom 690SqFt Apts for $429K on average...who in their right mind would pay the same amount, let alone more, during the lowest housing market in recorded history...

It's the Crack-Heads who don't do their homework that think making an offer at 10% off ask is a deal...that's the only thing keeping the L.I.C. market too high.

It is rather irritating when a broker lists no floor plans, and uses the same architect renderings for every unit. The building's there! Take some pictures! It makes me think the reality is much worse, or the broker is lazy. Prices, bedrooms, and square footages mean very little without a layout. Get me interested.

Looking is incorrect. At the top of the market, one-bedrooms in Hunters Point were selling for significantly higher than $429k.

"LIC's Murano Is a Lying Cheat, Says Architecture Critic"

http://ny.curbed.com/archives/2010/09/14/lics_murano_is_a_lying_cheat_says_architecture_critic.php

Has anyone seen the back of the building? I was walking down the block behind murano and noticed 3/4 of the building was painted with a salmon color paint..I almost puked. It looked like an entirely different bldg. Guess the developer decided to buy whatever color was on sale.

Does anyone know how many units are in contract currently at the Murano?

agent said 8 signed out of 16 contracts out when I visited the OH a few weeks ago.

i don't believe it. price too high.

Was told approx. 10% in-contract when I was there. The wife and I decided to look else where. After thinking about all the things we didn't like about the place and what we would want to change, it just didn't make sense. Also saw an idling train one weekend, not sure if it was in service, but still annoying.

lg8888- asking prices are very high.. but no way to know what prices were actually accepted at this point.

mars- really liked some things about the units, but bedrooms were tiny in the 2 BR corner units. also, not crazy about the trains. They're not allowed to idle during the day, but if u have a stay at home mom/children, it does come into play.

The plan has been declared effective

Any updates on pricing? What is PSF that has been accepted?

Would 630 psf be a good deal for one of the 2b 2b apts?

My friend just contracted one of the 689sqft for $430,000. Asking was $480,000 and they covered closings.

Did they lower the asking from the original? $480k for a 689 sf is lower than the original asking on lowest floor 689 sf.

It was all about the negotiating. They want to close at a good price; make an offer and see where it goes. They came down to close the deal.

Has anyone closed on a 2br/2bath yet?

LookingToBuy, did your friend also get a parking spot?

according to the most recent amendment to the offering plan, no one is contracted for 430k, not even close.

clarifying: I don't mean to be short, or imply anything. Just saying what I see to be the case. perhaps your friend's contract fell through or did not happen yet.

sorry about posting 3 in a row. I'm busy on the side. the prices of the contracted units are higher than the 430k but there's definitely some room to negotiate from the asking.

Meatslim, do you mind telling me which page(s) of the offering plan you're referring to? I have it in front of me and can't find it. TIA.

pricing amendments to the offering plan are not reflective of actual contract prices. The pricing amendments are based on what the developer states that the offering value of each apartment is. In some cases those amendments are filed way before any units entered contract. The only way to know what the final price of an apartment is to check the closing price which is public record.

Just a friendly pointer that you should not be using offering plan amendments to gauge contract amounts.

>>The only way to know what the final price of an apartment is to check the closing price which is public record.<<

That's what I thought, while going through the offering plan.

Btw, while on the subject, if I don't want my sale to be a part of public record, any way to prevent that information from going out there? :-).

Unfortunately (or fortunately, depending on how you look at it), the transfer of property (and the price) is public record and I do not believe that you are able to have that information withheld.

Unfortunately, I'd say. I don't mind the price listed, but the rest should be optional.

I was in the neighborhood, decided to check this place out personally. The sales rep on site informed me that it's 50% sold, very few one bedrooms left, mostly on the lower floors and facing north. Given what you guys are saying above, I guess either things have changed or the sales effort is directed at pushing the least desirable apartments first.

I saw a bunch of units, both 2bd and 1bd. The furnishings in the bathrooms are OK, but the tub is something you'd want to replace. Very uncomfortable. The rooms are on the small size, as are the hallways. Kitchens are nice, although I'm not a fan of the white countertops. I was told the flooring is engineered. Not thrilled about the color. Too gray.

The north side is very dark, no sun reaches in. Views on the north size include the LIC water-front developments, a sliver of Manhattan and a little bit of East River, if you walk out onto the balcony. I suppose it looks nice at night, during the day, I felt as though Murano was a kid, looking up at it's wealthy, well-to-do competitors.

Views on the south side, well, the rail road tracks and the Tunnel venting building. If you get up to the 6th floor or so, the views to the south improve, somewhat. You can see the East River, the Creek, Greenpoint and downtown Manhattan. The views will will be compromised as development of the waterfront moves ahead. There were no trains at the rail yard while I was there, and the street outside wasn't busy. Seemed quiet enough.

I did notice some tiny cracks where walls meet the ceiling in two units. I also saw what looked like water damage in one closet, but overall the quality was not bad. If you do buy, you will of course have an inspector check things out thoroughly.

Overall, it's a yawn at the current ask. I'd get mildly excited if it drops another 30-40%.

The only units worth looking into, imho, are the 2bedrooms. H-line in particular.