The Aldyn

be careful buying here. Units aren't priced to market, so they will have to offer incentives and reductions. But they won't offer the same to everyone. The apartment next to yours may go for 10-15% less than what you pay, and you'll never be able to sell because the other guy will undercut you.

I think that can be true anywhere. The building does offers a number of pluses and minuses. Access to Riverside Park, Water views and a killer gym are clear pluses. But watch out, the amenities are shared with a rental building next door, and the sponsor is intending to rent the bottom floors, so you'll have to compete with Extell for the supply of renters. Additionally if prices were to rise in the future, Extell would undboutably try to unload the additional units currently marked as rentals, limiting upside appreciation in the near term.

Also, while finishes are OK they are clearly a notch or two lower than what they are offering at Rushmore, so you should expect a clear discount versus the building next door.

So, some of the rental units are being set aside for low income tenants so that the developer can qualify for the 421a but they don't specify how many. Not sure I want to buy into a building with any rental units as renters are usually there for a shorter time and the more turn over you have in a building the more wear and tear it gets. This seems like a bad idea to me.

Don't worry about turnover. The rentals that they need to offer will need to be subsidized for low-income in order to qualify, so your new low income rental neighbors won't be going anywhere considering they can have live as your neighbor in the Aldyn at subsidized rates.

This doesn't sound right. I believe the regulations allow the low income rentals to be done elsewhere.

I forgot that the rental portion of this building will be an 80/20 building. I think for rental buildings the low-income housing is on-site; for condos, the low-income housing is offsite. I remember reading articles a few years when the Caledonia opened a few years ago, it was a big deal because a bunch of poor people who got chosen in a lottery) got to live in a really nice building for next to nothing. While I wouldn't be concerned with turnover in this building, I wouldn't want to buy a million dollar apartment only to have a truckdriver living in my building.

Since there are rental units in the building then I assume the low income apartments will be on site. I have nothing against renters and I have been both a renter and an owner but, when you own an apt you "care" more about how the upkeep of the building than a renter who doesn't have anything at stake and the less you are paying the less stake you have in a building. To ask those prices only to share all of the building's amenities with renters who aren't worried about the long term wear and tear of the building is dodgy in my opinion.

A lot of the Trump(equity residential) rental buildings are 80/20. No big deal

But the 80/20 is Ashley not Aldyn

What is the consensus on this building ? CC seem higher than the Rushmore, appears to me the condo portion will end up subsidizing the facilities for the Rental building tenants' use.
Also is it true that the developer is not negotiating on price ?

Wow...

With a name like "SomeoneWhoKnows", I thought that *I* was a tad arrogant...

But you, "downtown1234" are one snobby, prissy sunuvabitch.

You wouldn't "want to buy a million dollar apartment only to have a truckdriver living in my building."

Are you serious? What City do you live in?

Do you ride the subway? Walk the streets? Shop at bodegas? Those sniveling, disease-ridden, evil working-class people are all around you.

Who exactly do you think runs the security, serves as a concierge, unplugs the toilets, paints the walls, and changes the lightbulbs, and mans the basement in every white-glove building from the Aldyn to 740 Park and beyond? Hell, who do you think wears the white gloves? They are not the kind of uber-wealthy folk who can afford to buy at the Aldyn, I assure you.

When you live in an apartment building in NYC, and particularly one as enormous as the Aldyn, you can, if you choose, have little to absolutely no contact with your neighbors. In fact, you will have far more interaction with all of those grotesque working-class folk providing your security and accepting your packages than you would with the wealthy trust-fund baby on the 28th floor or that very important, life-saving equities trader in the penthouse. But you can't bear the thought of 20% of the apartments on the lower floors (probably representing no more than 3 - 5% of the residents in the entire building) actually working a blue-collar job?

Wow, dude. You are a throwback from a long-ago era of aristocrats and peasants. And I mean that in a very, very bad way.

No, I agree. Part of the marketing of expensive buildings is "snob appeal". Why would some one want to spend millions of dollars buying an apartment knowing full well that someone else could gain access to the same amenities for $1,000 to $2,0000 per month.. I'll add though that the Aldyn does not seem all that high end, at least from the perspective of the lobby or the one and two bedroom units. If you want that you need to look next door at Rushmore.

But what about the buyers of 2101 and 2102? They'll have to share the elevator with those scum without private swimming pools who paid only $2,000,000 for a two-bedroom. Then beside Extell's renters, there'll be all the renters of investors' apartments. How will anyone distinguish one group from another? For real snob appeal you'd need color-coded forehead tattoos.

Hats off to SomeonewhoKnows!!!! Well said, now I can get on with my day and not have to respond to some creature who sounds like my old dead relatives.

SomeonewhoKnows - Yes, I live in NYC, ride the subway, shop in bodegas but I still don't want working class people living in my building. Call me a snob, call me arrogant, call me whatever you want, but it is what it is. If I pay $1MM - 2MMM (or more) for an apartment, I simply don't want some truckdriver making $50,000/year living in the apartment next door. The building next door is fine, but not in the apartment next door.

I spoke to a doorman of an 80/20 building. He says the most demanding tenants are from the 20%(subsidized rents)

well, that settles that doesn't it?

Also is it true that the amenities in this building will also be shared with the building next door , 40 Riverside (and of course the Ashley).
This is what this article from the Real Deal seems to imply.
Would the owners of 60 Riverside incur the full cost of the amenities, while residents of the the Ashley and 40 Riverside pay monthly fees ?
Article from the Real Deal : http://therealdeal.com/newyork/articles/rounding-out-riverside-south
"All residents in the building -- along with residents at the Aldyn's two sister buildings, the Ashley, which shares a courtyard with the Aldyn, and another, yet-to-be-built Extell tower at 40 Riverside -- will have free access to 40,000 square feet of amenities. They include an athletic club with a 75-foot swimming pool; a 38-foot rock-climbing wall; basketball and squash courts; a bowling alley; yoga and pilates studios; and a golf simulator. Kruysman said the amenities and athletic space is the largest in a private building in Manhattan "

columbiacounty
1 day ago
ignore this person
report abuse well, that settles that doesn't it?

Shouldn't you put all of the words together with no spaces and add your latest obsession lucille as the prefix?

any news on the Aldyn, how are sales of their larger units progressing ?
seems like not much has gone in contract besides 1BR for the time being...

1brs are attractive prices...I think that's why they're in contract. Other units are a bit overpriced in my opinion (esp. 4 brs) but people will buy them and the building has a lot of amenities

mmm doesn't look like much is moving, maybe they are just waiting for their COO.

Aldyn makes Rushmore attractive.
The place looks like a rental building attached to a commercial gym.
Nice place to rent, but wouldn't want to own there.

layouts are nice though, i think it's priced 10-15% too high , for the larger units.

68% of listings in contract are 1 bedrooms. Does anyone know why this is?

because everything else if overpriced. they are hoping they sell enough small units at lower prices to get banks to lend in the building

They say that all the units are going for full price. This seems sketchy to me. Anybody hear the same thing?

If you look at the sale history, most of the units that have sold are going for over ask. It's true that a substantial amount have come off the market but most that have sold went for over ask. The view is nice and the amenities are great, so I'm guessing there have been some bidding wars.

Views are better in NJ than at the Aldyn. Looking at Manhattan is better than looking at New Jersey.

People who live here right the subway? Dang, that's quite the trek.