Manhattan House

Sold by NY Life in Oct 2005 for $625 million to investors Richard Kalikow and Jeremiah O'Connor Jr. They got the condo conversion plan approved by the AG for $1.1 billion. But the partners have been fighting in court, and the thing is a mess.

thanks -

I plan on buying a 1 bed condo in this building. I would like to know how stable the building is and if anyone has bought into this building?

I plan to buy in the building also. From what I have heard, Oconnor has a good reputation. I also think as he paid a lot of money to buy the building, it is in his best interest to convert the building as soon as and as well as he can. There are a number of rent stabalized apts that will remain stabalized - i think the number may be 233 units (total units 587 - which will change once they combine units into 2, 3 etc bedrooms)

Were you able to negotiate on their asking price? not sure of where they stand with negotiating - would appreciate feedback on this

See these discussions for more info on the Manhattan House conversion:

http://www.streeteasy.com/nyc/talk/discussion/2456-manhattan-house-66th-st-and-third-ave

http://www.streeteasy.com/nyc/talk/discussion/2729-manhattan-house-200-east-66th-street

You can also check on http://manhattanhouse.wordpress.com .

I believe the blog referred to in the prior post is a public relations blog set up by Quinn & Co. Public Relations, the PR firm for O’Connor Capital Partners (the Sponsor of the Manhattan House condo conversion). The Manhattan House resident's blog is still http://200east66street.blogspot.com.

Having signed a contract to purchase at Manhattan House, I now realize what a mistake that was, and I do not want to close on the apartment. I have been speaking with Adam Leitman Bailey (www.alblawfirm.com), the attorney who represents the Manhattan House Tenants' Association, about having him represent a group of similarly situated purchasers in an action to recover deposits from the sponsor. I recommend you contact Adam if you wish to participate.

Are you sure you covered all the prior postings for Manhattan House?

gutter86: I hope I did, as that was my intent. I believe that there are a large number of Manhattan House purchasers who, like me, want out of their contracts. I have spoken with Adam Leitman Bailey (www.alblawfirm.com) and believe that he is the right attorney to handle this matter, as he has extensive experience in this area and already has a full understanding of the situation at Manhattan House from his representation of the Manhattan House Tenants' Association in their conflicts with the sponsor. The more people that choose to use Adam Leitman Bailey to represent them in recovering their deposits, the lower the legal expense will be for each of us. The problem is that it is difficult to reach out to those who have signed contracts at Manhattan House and want out, as their names are not publicly available. By posting here, I hope to reach some of them.

We have lived in MH for many years and the amenities litsed on the web site compared to what exists appear to be very different buildings. There is no spa, gym, club room, or valet parking. The parking spaces that are part of the front entrance are no longer available for tenants use. The laundry room facilities are deplorable and tenants continually lose money in the broken machines and dryers.

Replying to a comment listed regarding if there is a method to contact other purchasers in contract. I suggest contacting NY State Attorney General to access other purchaser's who were the the first 80-100 apartments sold for the conversion plan to be passed by the AG. Perhaps the Freedom of Information Act allows access to this type of information so you can find the other's in contract who are having second thoughts, like you are. Good luck-
You may want to begin here:
http://www.oag.state.ny.us/bureaus/real_estate_finance/about.html