The Harmony??

The maintenance is a bit high, due to underlying mortgages, I think. Some info at http://streeteasy.com/nyc/talk/discussion/13679-maintenance and http://streeteasy.com/nyc/talk/discussion/15348-the-harmony-61-west-62nd-street

Fordham's construction supposed to be done by 2014, and is at the Amsterdam end of the campus. See http://www.fordham.edu/fordhamuplans/

Is it true that the nearby coop Toulaine holds value better than the Harmony?

http://cooperator.com/articles/318/1/From-Horror-to-Harmony/Page1.html

Here is some history on The Harmony which seems to be long behind them. Now with the Atrium in better standing, to say the least, I find it more appealing. The Fordham construction can be viewed out the west side of the building, but far enough away and for that matter, that could be a good barganing chip for determination of price in negotiation. Five years ago I would have said choose The Toulaine even though I am not a fan of the layouts/views/block. I think in the long run The Harmony might be better. At this point I will say both are a toss up.

We owned in the Harmony. Great location, and the prices got a bump up from TWC. The mortgage is large, but unlike most other co-ops, the co-op owns the commercial space (Rosa Mexicana dry cleaner nails? NYSC gym). Sold off the 3rd floor to Columbia (poor decision, IMO, playroom or party room would have been nice). With the abolition of the 80-20 rule (80% of co-op's income had to come from mtce), the co-op will always be subsidized by the substantial commercial income. The mtge is large-ish but it is being paid off rather aggressively. So in about 10 years, this should mean lower mtce/sq. ft than comparable co-ops.

Dislike the entrance foyer (could be more gracious). Layouts are okay - my favorite line is the west-facing apts. Apts J,H,K,L,M. Apts A & N on higher floor also have great views.

IMO, with the TWC, location beats out Toulaine. I like the Birnbaum white (aluminum/steel/whatever) siding. Zoned for 191, if that matters, so families will seek out Toulaine.

QMN: At the Harmony in 2088-9 the one bedrooms started in the mid-400's where you can see the jump off point now seems to be 550K. As nyc10023 stated, Time Warner. In the other direction Licoln Center and right in the building as I earlier stated the Atrium for Licoln Center. For a building that I really didn't like for many years, it has become quite a convenient residence coming into it's own.

Correction; at the Harmony in 2008-9. I'm sure it will be a designated landmark in 2088-9 but that's too far off to even be concerned about.

Not to make you sick at current prices, but ...

1997 ish (when the successor to bankrupt sponsor sold) - 1 beds - mid 100s, J line mid-high 200s
1999-2001 - H line mid 300s, J line mid-high 500s, E line low 700s
2002 - H line mid 400s, E line low 900s
2007 (peak) - I believe the record for a 1-bedroom was mid-600.

The market for one bedrooms is soft right now- feels like the prices at the Harmony are 15-20% too high.

So, QMN, did you ended up buying at The Harmony? We were considering it last year too, I think we looked at both the A and the C line, both facing back (Empire Hotel), which is not the greatest. We like the long living room, however, the maintenance was just too high for us to justify it. As of now, looking at the current listings, I don't think the sale price is discounted enough to justify the high maintenance.

Leecube, I share your view completely. Given the Co-op structure, very high monthly fees, no common room, access to rooftop, or amenities in the building, the listed prices are 20% too high, even though the location is great. Apartments are not selling close to listed prices, and some are being delisted. I am waiting to see where the prices go as we leg into the Fall. Would love to hear more opinions on the Harmony or other co-op / condos in the Lincoln Square area. Thanks.

I recently went to see a unit there, and one thing caught my attention--so I thought I'd ask someone who knows about the bldg. on this board.

In the unit I visited, I saw a couple of roach sprays in the closets... I also saw what appeared to be a roach motel. The bldg didn't seem that old (built in the 80s?), and it didn't feel THAT dumpy. Does anyone know if the bldg. is having infestation problems??? Maybe the owner/tenant is just being careful and the sprays might be preventive measures, but I just wanted to get some info here. Of course, the broker said she had never heard of any bug problems in the bldg...

Any info would be much appreciated. Thanks.

Does anyone know whether The Harmony owns the space of the David Rubenstein Atrium? Are they getting rent from it? From nyc10023, the co-op already owns all the commercial space on the ground floor. I don't understand why the maintenance is still so high when they're getting so much money from all these commercial tenants. Is it because these are really old leases and they're not at market rates? Is there any way to find out when these commercial leases will come due (ie. for NYSC gym, Rosa Mexicana..etc.)? THANKS.

They do not own that space - it is designated "public" space. The maintenance is high because they still have a big mtge, I'm not sure if they are maxing out the commercial rent, and they were paying off the mortgage.

We didn't have a roach problem, but we were not close to the garbage chute.

Toulaine is quiter, it is on a dead end street while Harmonie is on a skinny block between Bway and Columbus.

I love the Harmony! I bought a couple of years ago after looking for a whole year. I did some renovation and updating and what I found is that in many of the Harmony lines, the bones are such that it's easy to open the apartment up to modernize and take advantage of the windows and light. The building has many open views east across Broadway, west across Lincoln Center and even north if you are high enough. The staff here is amazing, things are kept spotless and there is a high level of security. Neighbors are friendly, and the location to TWC and transportation is perfect, and the neighborhood is always clean and maintained. Probably the best thing though is that it is one block away from Central Park! That makes up for the need of a rooftop garden or gym in my opinion.

IMO, lack of rooftop access or gym at that location should never be a dealkiller - NYSC is right there! It might as well be in the building. Equinox less than 5 mins slow amble away.

And there IS a NY Sports Club ADJACENT to the building. So you have 3 choices, the one adjacent to the building is the cheapest and gives a building discount i think. Equinox is next closest and a little pricier, and then Reebok LA Sporting Club at 68th and Columbus is furthest and priciest, but has a pool, hot tub, outdoor running track and a few other differentiators.

Thinking of buying a one bedroom in the Harmony. The area seems nice enough but the maintenance a little high. I have been looking in the 70"s and the prices seem lower nearer to Lincoln Center is there a reason? Any feedback on this building or the area would be appreciated.

An update on this thread, the Fordham construction is now done and has been as asset to the Harmony. The Fordham block is beautiful, so the Harmon has that to the East, 15 CPW and Central Park to the West, Time Warner Center to the South and Lincoln Center around the corner. Hard to find a better location in the city. And, there is now a lovely community room and the hallways/doors and lobby updated in the past few years.