Adagio

The building is across the street from the element and 10WEA and just west of another new low rise luxury building going up and just west of the Hudson. There will eventually also be 2-3 more buildings across WEA which will be just south of the Rushmore. There is also a large luxury rental building going up on the 61st side of that street. Seems like each of the buildings will have it's own feel. Judging from the high ceilings (around 11 ft) Adagio seems to be shoot for the loft market. That whole area will be a new neighborhood in about 2-5 yrs, once all the construction is done, which should help the market value but you have to be willing to wait it out for a bit.

Adagio: beautiful condo or toxic wasteland?

http://www.nycondoblog.com/?p=465

This is really an amazing high quality construction building in a great location. Prices are lower than the comps (not saying much though in this high priced market)

streets123, great location? is this a joke? it's near the massive housing project complex and far from any decent restaurants, stores, etc. you really should walk around in that area before saying such nonsense.

Rufus makes a great point. We loved the Adagio but couldn't ignore the housing project complex. And, there is absolutely nothing over there -- no stores, no restaurants -- nothing. Great place, yes -- but we passed.

NYC will never be a truly great city until it gets rid of the housing projects in prime manhattan real estate.

Well, also that is 3 avenues uphill to the columbus ave subway. One of the number of reasons I decided to pass on the Adagio as well.

and you are dwarfed by 10 WEA and Element...no light at all.

housing projects? That should not bother a buyer; it makes Manhattan Manhattan and they are well iscolated and behaved. As far as restaurants and retail stores there are plenty of spaces that are ready to go... Once the neighboring buildings are leased/sold and tenants moved in, retail always follows. Besides Time Warner is a 5 minute walk away (uphill, yes, so)

10 WEA and Element block the direct sun for parts of the day but building still faces south.. Great design and construction.

Nonetheless, we are in a depression but this emerging area will certainly emerge. 10023 zip, cant beat it. I think Ill be a buyer at 10023.

Much that has yet to be seen in the area... In this downturn, there will be an added premium for small boutique full service luxury condos... stay tuned and get in now

nycstreets123, you're right. housing projects are a part of manhattan, which is why it will never be as gentrified and upscale as Chicago.

That area is dismal. There's nothing there; maybe there's potential in the next few years, but that's all contingent upon retail actually going up, which is doubtful in this economy. It's sort of like the hype regarding williamsburg's waterfront. People talk about how nice it will be, but until it happens, don't drink the kool-aid.

Yes, Cabrini-Green was upscale and gentrified, I forgot.

cabrini green got demolished. there are no housing projects in a remotely nice part of Chicago. they're all in the far south and west side.

Maybe you should look up the meaning of gentrified since you don't know what you're talking about.

Rufus, housing projects, except in extreme situations, are irrelevant to quality of life. If they are gang-ridden or otherwise crime magnets, they are obviously a factor. Most in Manhattan, in the residential areas discussed on this board, are not. I don't WANT to live in an environment filled only with upper-middle to upper-class people. If I did I'd move to Bedford, Upper Montclair, Greenwich, etc. It's called suburbia. If Chicago has managed, which I highly doubt, to recreate suburbia within it's city limits, how sad for Chicago. What a loss of vitality, and, well, urbanness. But I guess that's what those earnest Mid-Westerners prefer. Dull as doorknobs.

Recently looked at the building again; amazing lobby, Escabar the designer is a genious. Construction is moving along very slow but since it looks like a quality job it is taking some time.
The area is incrediable; not too far West (on the water) which would make it hard to access true Lincoln Square area and not too far east where the prices are much higher and it is far busier. A great neighborhood in the making for sure with huge upside. Im a likely buyer once construction moves closer to completion...

Why is construction taking so long? The Adagio was supposed to be completed several months ago.

must be change orders and the building has quality ammenities. The majority of the units have their TCO, its just the common areas that still have construction. All will be done in a couple of months at this pace.

i strongly suggest you take a visit; great units with south exposure and great value in the north facing units... plus you would have access to the pool, tennis court, spaa/gym theater etc... to the adjacent rental.

"Escabar the designer is a genious."

You must be living very last year. Neither Escabar nor Esteban add anything to the price of an apartment. Prices are a function of incomes and leverage, both of which have collapsed.

Plus your spelling sucks.

> Neither Escabar nor Esteban add anything to the price of an apartment.

LOL.

I love how his guitars have the "same features" as $10,000 guitars. Like strings, and a hole. So they're the same thing.

The developer is building with all cash and is also building the adjacent luxury rental building. They are monitoring the building and ensuring that all the amenities, units, and common spaces are built as designed. The building is certainly not a cookie cut building and seems like much thought and energy has gone into the quality of construction (probably why it is taking so long) and the overall look feel and design. The location is ideal and the building has a warm boutique luxury feel to it. Once the pool, tennis court, movie theater, gym, spa garage etc is complete in the adjacent building (which owners can use for free!), it would really do wonders to the overall project. If interest rates remain low sub 5% (doubtful that it will remain at these historic lows for much longer, I am almost a buyer there since I believe in the building and this particular submarket.

nyclinsq, thanks for the hilarious post! You're definitely a broker trying to deceive buyers into the adagio.

First of all, this location is FAR from ideal. You enjoy the "privilege" of living next to dangerous housing projects. And that area is totally dead.

Not a broker rufus; I am a New Yorker. I just have the balls to go after something that I want and like. Once again I am a born and raised New Yorker and you clearly are not, so get out of my city! If you are afraid of low to middle income affordable housing buildings then go to Beverly Hills where you probably came from. Stop wasting posting space with your fear and loathing of affordable housing. THIS IS NEW YORK and the ADAGIO is in a prime physical location especially for the pricing!!!!!!!!!! Your boring me.

Rufus,

You assert the housing project is dangerous. It is actually safe to walk through. Have you ever done it? And it is much closer to 161 West 61st street than the Adagio, Element, or 10WEA and it hasnt impacted their values. The housing project is 5 blocks up from 60th street, not right next door. Get your facts straight.

Reman, I agree with you. The Amsterdam Houses pose absolutely no threat to the Lincoln Square neighborhood. I have lived in the neighborhood for quite some time now, and have found all residents of the area to be pleasant and neighborly. I enjoy walking through the leafy courtyards in the summer heat, and have gotten to know some of the (many) kind, elderly residents. Stop your racist comments about this nice area that is home to a pleasantly diverse population.

Maybe you naysayers of this area should take a look at the Alfred. It appears that the proposed expansion of Fordham ( http://www.observer.com/2008/real-estate/fordham-vs-upper-west-side ) will be doing much more damage to property values there than the adjacent Amsterdam Houses.

I recently just purchused a unit here and now live in the building. Very happy with the building and looking very forward to enjoying the buildings gardens once spring/summer arrives. All the unit owners are very nice and the building is well run. With only 40 units in total including the penthouse (they are combining 2 units together) there will be a real sense of a community here for all to enjoy. Looking very forward to the adjacent buildings high quality ammenities (which are still under construction). Once they start closing on the huge twin tower Rushmore condo to the west, I am confident that retail will follow despite the recession.

Does anyone know what West 61st street behind the Adagio is zoned for or how to find out this information? I know that 2 smaller buildings are being renovated and converted to condos, but I wonder about the 1 story parking garage next door and what might go in on this lot. I like the north views because of the light, but know you could lose this if something tall went up on that lot. Also, could anyone comment on their experience with the Bosch Axxis washers and dryers. How well do they work and do they handle all your laundry needs? Is there a separate laundry room with full size washers and dryers in the Adagio as well?

NYCNOW, I dont think it is a question of zoning because I believe (but you should confirm) that the air rights from that garage has been already purchased and transferred... Bosch is as good as it gets (only makes noise for a few minutes during the overall spin cycle

NYCNOW, you may try and look up PropertyShark.com for the garage at 246 W 61 St, New York, NY 10023

no doubt this is the coolest boutique building in Lincoln Square that has both under 40 year old unit owners and total number of apartment units. Once the Sessanta's (adjacent rental building) ammenities is complete by summer it will add alot to the trendy complex. Pool, tennis court, gardens, spa/healthclub etc....

y broker where can I sign up to loose a lot of money??

Has anyone been in one of the units with a fireplace? I'm curious how they work, and how they look - especially in units 7A and 8A. On the floor plans, they look like they take up a lot of space.

I think they do take up a lot of space relatively speaking. Depends how badly you want a fireplace in the living room.

This boutique Lincoln Square building is like non other. The units were priced right and will sell since there is no building like it in the area... If the seller could take back financing (I think they will since they build all cash with no debt) I seriously think I am a buyer next month..... My only issue is that all the amenities that we can use for free belong to their adjacent rental building but the construction seems to be moving way too slow...

just saw this small 38 unit building and really thought the building has everything you need to feel like you live in your own building without having the maintenance and cost associated. The area is fantastic especially when you could choose from the Husdon River of Central Park. The minus is that there is an uphill but only 5 min walk to Time Warner Center/Columbus Circle subway station. Despite this economy, they are offering good prices for this type of quality product.
Great part of the building is that you have access to all the amenities without having to pay for it and despite being such a small building, monthly maintenance is less than $1 psf. You would have free access to the adjacent rental building (access from the garden in the back) amenities, tennis court, pool, gardens, gyms, etc...If I could get qualified for financing, I am a buyer (think the developer might offer low interest financing... Does anyone know what they would give?

how many brokers does it take to change a light bulb?

Been researching this building and this area of Lincoln Square for a while now and must say that I really like what I see. The area is fantastic thanks to the physical location near the Hudson River Park to the west and Central Park, Lincoln Center, & Time Warner Center to the west.

Main issue I have is that there is limited retail stores on the block and the next block / avenue over.. This is change as there are empty retail stores currently there... Seems that this building along with the sister rental building still have a bit of construction work to be completed... Once the construction is completely finished and the ground floor retail space gets leased, I am certain that this will be a very good investment and quality place to live with my wife.

Very close to pulling the trigger, please let me know if anyone has intimate knowledge or insight about the building... Thanks so far love the Lincoln Square area and this boutique luxury building!

Can't disagree with what you said, just your conclusion.

It is not a fantastic area now (see your examples). It is an area with a lot of potential (see your examples).

In 5-10 years, it could be a fantastic area.