Really? Almost 50% of the 190 condos have sold with an asking price of $2600 psf in the luxe neighborhood of 36th street without any good public transport and not a fresh apple to be found under $3 for miles around? And they must be cash deals because banks look askance at hotel/condo developments. The developers couldn't be abusing foreigners could they? I think there will be lawsuits ala the... [more]
Really? Almost 50% of the 190 condos have sold with an asking price of $2600 psf in the luxe neighborhood of 36th street without any good public transport and not a fresh apple to be found under $3 for miles around? And they must be cash deals because banks look askance at hotel/condo developments. The developers couldn't be abusing foreigners could they?
I think there will be lawsuits ala the Trump Soho where residents claimed they were hoodwinked by outrageous claims of sales/success which put everyone who bought at financial risk. Really, there should be a law. I would love to know the ratio of Chinese buyers.
May they have the same success as the downtown Setai. Sleazebag developers unite!
http://therealdeal.com/newyork/articles/setai-fifth-avenue-residences-and-hotel-at-400-fifth-avenue-and-36th-street-designed-by-gwathmey-siegel-and-developed-by-bizzi-partners-to-open-in-november[less]
Response by buyerbuyer
almost 16 years ago
Posts: 707
Member since: Jan 2010
"The developers couldn't be abusing foreigners could they?"
Sometimes it's painful, as in you feel embarrased for them, to read what people write on this site.
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Response by dmag2020
almost 16 years ago
Posts: 430
Member since: Feb 2007
Worst location in the city, although, you ARE by the "Ginger Man"! I have to say, if you pay $1.75 million for a 800 square foot apartment a block away from the Ginger Man, you deserve what's coming to you.
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Response by apt23
almost 16 years ago
Posts: 2041
Member since: Jul 2009
buyer: why don't you review the lawsuit at Trump Soho. Foreign buyers were targeted in the marketing campaigns and then grossly misled about the state of the RE market and particularly the state of sales at Trump Soho. I have talked to brokers who literally laugh about the absurd prices that Asian buyers spend on overpriced NYC RE -- as they go out of their way to court those same buyers. When a critical mass of foreign and Asian buyers lose money on their investments, it will have an affect on everyone as those buyers won't be around to support the market in a way that the system has come to depend upon.
"The developers couldn't be abusing foreigners could they?"
Sometimes it's painful, as in you feel embarrased for them, to read what people write on this site.
Worst location in the city, although, you ARE by the "Ginger Man"! I have to say, if you pay $1.75 million for a 800 square foot apartment a block away from the Ginger Man, you deserve what's coming to you.
buyer: why don't you review the lawsuit at Trump Soho. Foreign buyers were targeted in the marketing campaigns and then grossly misled about the state of the RE market and particularly the state of sales at Trump Soho. I have talked to brokers who literally laugh about the absurd prices that Asian buyers spend on overpriced NYC RE -- as they go out of their way to court those same buyers. When a critical mass of foreign and Asian buyers lose money on their investments, it will have an affect on everyone as those buyers won't be around to support the market in a way that the system has come to depend upon.