I rent at 75 Wall Street. I have encountered numerous problems and would not recommend moving here. The air conditioning does not sufficiently cool the entire apartment. This results in my running the air conditioning non-stop to achieve a temperature in the high 70s-low 80s in the bedroom. My electric bills are insane, and it is difficult to sleep in such a warm bedroom. Additionally, the... [more]
I rent at 75 Wall Street. I have encountered numerous problems and would not recommend moving here. The air conditioning does not sufficiently cool the entire apartment. This results in my running the air conditioning non-stop to achieve a temperature in the high 70s-low 80s in the bedroom. My electric bills are insane, and it is difficult to sleep in such a warm bedroom. Additionally, the refrigerator door is too heavy for the unit and it does not properly seal when closed. I must forcefully push the door after it is closed to create a seal, otherwise the refrigerator will begin to beep. The freezer has a similar problem with a seal, and it begins to beep if the temperature drops below a certain point. I cannot open the freezer within several hours of bedtime otherwise it will begin beeping and wake me up. I have reported these problems to management and they have not been fixed. Maintenance work is only peformed between 9 and 3, Monday through Friday (I believe)-never on Sat. or after 5 on weekdays, so be prepared take a day off work if you want to be home while maintenance work is performed in your unit. I was misled by my realtor when I viewed this apartment, so make sure to ask several questions when you look at this building:
1. Will the rooftop spa be available for use? It was bolted shut the entire summer.
2. Will my unit actually be available on my move-in date?
3. How frequently will people reserve the roof deck for private parties?
4. How frequently do you allow personal trainers to usurp the fitness facilities?
5. Will the hallway be air conditioned?
6. How many working air conditioning vents are in my apartment?
7. Are the circular disks on my ceiling for light fixtures or are they sprinklers? (I was told they were for fixtures, so I purchased an expensive fixture to install. I was then told that they are sprinklers-my fixture was non-returnable).
8. How many occupied units verses working elevators? How does this compare with buildings in the neighborhood?
[less]
Response by downtown1234
about 14 years ago
Posts: 349
Member since: Nov 2007
The good news is that after 4.5 years, 75 Wall has finally reached the 50% sold mark. (Yes, that was sarcasm). The developer needs to wake up and cut the prices to a reasonable level or it will take 6 years to sell the remaining 50%.
We haven't paid much attention to the apartment interiors at 75 Wall Street, preoccupied as we've been with the rooftop dog problems and the Andaz Hotel that sits below the condos. But the building has finally hit the 50 percent sold mark, and in honor of the occasion, we swung by to take a look at one of the new penthouse model units, designed by Molteni&C. The 4BR, 4.5BA apartment is on the market for $7.75 million. Unexpected perks: it's got a view of the landing strip at 77 Water Street. The windows offer prime helicopter-spotting opportunities, too. Worth the price?
The stats can help us answer that >>
What do the closing prices so far suggest about what PHD1 might sell for? Lately sales prices have been hovering between 3 and 6 percent off:
Ignored comment.
Unhide
Response by fidirenter
about 14 years ago
Posts: 4
Member since: Dec 2011
Surprisingly, It looks like PHD1 has the same bathroom sink and faucet finishes as other apartments. If I purchased in this building, replacing each of the sinks and faucets would be an absolute must-the design is idiotic. The sink is narrow and the faucet protrudes out, making it impossible to wash your face without getting the entire bathroom vanity and floor wet.
Ignored comment.
Unhide
Response by NYCMatt
about 14 years ago
Posts: 7523
Member since: May 2009
Oh, poor little rich renter.
You can afford $5,000/month on a "luxury" apartment, yet you complain about "insane" electric bills.
Warm bedrooms ... beeping freezer doors ... can't use the spa ... oh the horrors!!!!!
Ignored comment.
Unhide
Response by GAL
about 14 years ago
Posts: 4
Member since: Dec 2007
I've lived in the building for almost three years - I recognise some of the issues fidirenter notes but definitely not all. I've never had an issue with air conditioning in the apartment, the refrigerator or the freezer. I've had maintenance done 7 days a week, from 7am until late in the evening. I've don't think I've ever not had access the rooftop / roof deck although there was a spate of private parties during the summer. That said, the lack of air conditioning in the hallways can be uncomfortable, the way personal trainers take over the gym is deeply annoying (not least because I doubt them or their clients are all residents), and there's clearly been issues with the elevators which have led to ridiculous waits.
Ignored comment.
Unhide
Response by NYCMatt
about 14 years ago
Posts: 7523
Member since: May 2009
"the way personal trainers take over the gym is deeply annoying"
Can personal trainers really do this?
Are they actually physically blocking other tenants from using the gym, or is their presence just an intimidation factor?
Ignored comment.
Unhide
Response by GAL
about 14 years ago
Posts: 4
Member since: Dec 2007
You're right, they're definitely not blocking anyone, so it is more pathetic intimidation. There's generally only have dozen people there or less but you can still feel you're interrupting them with your presence.
Ignored comment.
Unhide
Response by NYCMatt
about 14 years ago
Posts: 7523
Member since: May 2009
GAL, just take the attitude that THEY are interrupting YOU with THEIR presence, and re-assert yourself.
Ignored comment.
Unhide
Response by jason10006
about 14 years ago
Posts: 5257
Member since: Jan 2009
"Oh, poor little rich renter."
Whether you pay $1,000 or $5,000 a month should not matter. Things should work, especially in a new bldg. Though I fail to understand why one would need the AC to work when its 30 degrees outside.
Ignored comment.
Unhide
Response by NYCMatt
about 14 years ago
Posts: 7523
Member since: May 2009
"Though I fail to understand why one would need the AC to work when its 30 degrees outside."
I think in these "climate controlled" newer buildings where the windows don't open, working air conditioning would, in fact, be a year-round requirement, as it's integrated into the ventilation system.
Ignored comment.
Unhide
Response by downtown1234
almost 14 years ago
Posts: 349
Member since: Nov 2007
Looks like virtually all the sponsor-owned units went off the market March 1. Anybody know the story behind this?
Ignored comment.
Unhide
Response by downtown1234
almost 14 years ago
Posts: 349
Member since: Nov 2007
From Crain's..
Corcoran Sunshine Marketing has stopped selling units at 75 Wall Street, a residential development at Water Street in Lower Manhattan that sits atop the Andaz hotel, Crain’s reported.
Sources told Crain’s this means that the 346-unit development is going rental.
Developer the Hakimian Organization bought 75 Wall Street with partners for $185 million from JPMorgan Chase in 2006, and converted it to condominiums shortly thereafer, Crain’s said. Previously the building was used for commercial space.
Hakimian has an option to extend its $263 million construction loan at the property, Crain’s said. The shift to rental could be a strategy to increase cashflow in order to meet the obligations of the loan, Crain’s said
Ignored comment.
Unhide
Response by downtown1234
over 13 years ago
Posts: 349
Member since: Nov 2007
In 5 years, they sold 50% of the apartments. Sounds like a money-maker to me! Maybe if they put down the dope and stopped asking $1400/sq foot in FiDi, they might sell a little faster.
They claim a dozen offers since Ariel Cohen took over sales. I wonder how many of those offer are at $900/sq foot, which is what every other comparable building in the neighborhood sells for.
Prudential Douglas Elliman has taken over marketing of 75 Wall Street, the new development residential condominiums that sit atop the Andaz hotel, from the Corcoran Sunshine Marketing Group. The building, at Water Street in Lower Manhattan, is also now 50 percent sold, according to the project’s developer, the Hakimian Organization.
Ariel Cohen, head of an eponymous group at Elliman, is now spearheading sales at the 364-unit tower, taking over from Corcoran Sunshine Marketing Group, which had reportedly sold 175 units there. Corcoran Sunshine did not immediately respond to request for comment.
In February, there was speculation that the property was going rental amid slow sales. But things have picked up, according to Ben Hakimian, president of the Hakimian Organization. The “current momentum is a testament to … our unbeatable amenities platform,” he said in a statement released to The Real Deal. A spokesperson for Hakimian said there are no plans to convert the building to rental at this time.
“Since partnering with Douglas Elliman Development Marketing earlier this month, we have already received more than a dozen offers, and we are looking forward to a very busy summer season,” Hakimian said.
Ariel Cohen could not immediately be reached for comment.
The Hakimian Organization and partners bought 75 Wall Street for $185 million from JPMorgan Chase in 2006, and converted it to condominiums shortly thereafter. Corcoran Sunshine had exclusively marketed the building since sales began in 2009.
The building offers residents a yoga studio, multi-media lounge, and rooftop lounge and terrace.
Condos range in size from 440-square-foot studios to 3,420-square-foot penthouses and in price from $685,000 to $7.75 million. Buyers are also eligible for a 421-G tax abatement, according to the statement from Hakimian.
Ignored comment.
Unhide
Response by JButton
over 13 years ago
Posts: 447
Member since: Sep 2011
'a very busy summer season' i like that one. fidi runs on a different seasonality from the rest of NYC and US.
Ignored comment.
Unhide
Response by thoth
over 13 years ago
Posts: 243
Member since: May 2008
Well, to be fair, they did say that they were "looking forward" to it. Given that their last sale seems to have been in mid-2011, they might be looking forward for a long time.
FiDi is an interesting market. A lot of the buildings there seem to have lost site of what made it an attractive place to buy in the first place, namely good value. But thanks to extend and pretend, they can keep living the dream.
Ignored comment.
Unhide
Response by thoth
over 13 years ago
Posts: 243
Member since: May 2008
Oops, meant "lost sight", not "lost site". Freudian slip!
'/%3e%3c/g%3e%3c/svg%3e)
The good news is that after 4.5 years, 75 Wall has finally reached the 50% sold mark. (Yes, that was sarcasm). The developer needs to wake up and cut the prices to a reasonable level or it will take 6 years to sell the remaining 50%.
http://ny.curbed.com/archives/2011/12/06/on_par_with_the_planes_in_75_walls_new_penthouse_model.php#more
We haven't paid much attention to the apartment interiors at 75 Wall Street, preoccupied as we've been with the rooftop dog problems and the Andaz Hotel that sits below the condos. But the building has finally hit the 50 percent sold mark, and in honor of the occasion, we swung by to take a look at one of the new penthouse model units, designed by Molteni&C. The 4BR, 4.5BA apartment is on the market for $7.75 million. Unexpected perks: it's got a view of the landing strip at 77 Water Street. The windows offer prime helicopter-spotting opportunities, too. Worth the price?
The stats can help us answer that >>
What do the closing prices so far suggest about what PHD1 might sell for? Lately sales prices have been hovering between 3 and 6 percent off:
Surprisingly, It looks like PHD1 has the same bathroom sink and faucet finishes as other apartments. If I purchased in this building, replacing each of the sinks and faucets would be an absolute must-the design is idiotic. The sink is narrow and the faucet protrudes out, making it impossible to wash your face without getting the entire bathroom vanity and floor wet.
Oh, poor little rich renter.
You can afford $5,000/month on a "luxury" apartment, yet you complain about "insane" electric bills.
Warm bedrooms ... beeping freezer doors ... can't use the spa ... oh the horrors!!!!!
I've lived in the building for almost three years - I recognise some of the issues fidirenter notes but definitely not all. I've never had an issue with air conditioning in the apartment, the refrigerator or the freezer. I've had maintenance done 7 days a week, from 7am until late in the evening. I've don't think I've ever not had access the rooftop / roof deck although there was a spate of private parties during the summer. That said, the lack of air conditioning in the hallways can be uncomfortable, the way personal trainers take over the gym is deeply annoying (not least because I doubt them or their clients are all residents), and there's clearly been issues with the elevators which have led to ridiculous waits.
"the way personal trainers take over the gym is deeply annoying"
Can personal trainers really do this?
Are they actually physically blocking other tenants from using the gym, or is their presence just an intimidation factor?
You're right, they're definitely not blocking anyone, so it is more pathetic intimidation. There's generally only have dozen people there or less but you can still feel you're interrupting them with your presence.
GAL, just take the attitude that THEY are interrupting YOU with THEIR presence, and re-assert yourself.
"Oh, poor little rich renter."
Whether you pay $1,000 or $5,000 a month should not matter. Things should work, especially in a new bldg. Though I fail to understand why one would need the AC to work when its 30 degrees outside.
"Though I fail to understand why one would need the AC to work when its 30 degrees outside."
I think in these "climate controlled" newer buildings where the windows don't open, working air conditioning would, in fact, be a year-round requirement, as it's integrated into the ventilation system.
Looks like virtually all the sponsor-owned units went off the market March 1. Anybody know the story behind this?
From Crain's..
Corcoran Sunshine Marketing has stopped selling units at 75 Wall Street, a residential development at Water Street in Lower Manhattan that sits atop the Andaz hotel, Crain’s reported.
Sources told Crain’s this means that the 346-unit development is going rental.
Developer the Hakimian Organization bought 75 Wall Street with partners for $185 million from JPMorgan Chase in 2006, and converted it to condominiums shortly thereafer, Crain’s said. Previously the building was used for commercial space.
Hakimian has an option to extend its $263 million construction loan at the property, Crain’s said. The shift to rental could be a strategy to increase cashflow in order to meet the obligations of the loan, Crain’s said
In 5 years, they sold 50% of the apartments. Sounds like a money-maker to me! Maybe if they put down the dope and stopped asking $1400/sq foot in FiDi, they might sell a little faster.
They claim a dozen offers since Ariel Cohen took over sales. I wonder how many of those offer are at $900/sq foot, which is what every other comparable building in the neighborhood sells for.
Prudential Douglas Elliman has taken over marketing of 75 Wall Street, the new development residential condominiums that sit atop the Andaz hotel, from the Corcoran Sunshine Marketing Group. The building, at Water Street in Lower Manhattan, is also now 50 percent sold, according to the project’s developer, the Hakimian Organization.
Ariel Cohen, head of an eponymous group at Elliman, is now spearheading sales at the 364-unit tower, taking over from Corcoran Sunshine Marketing Group, which had reportedly sold 175 units there. Corcoran Sunshine did not immediately respond to request for comment.
In February, there was speculation that the property was going rental amid slow sales. But things have picked up, according to Ben Hakimian, president of the Hakimian Organization. The “current momentum is a testament to … our unbeatable amenities platform,” he said in a statement released to The Real Deal. A spokesperson for Hakimian said there are no plans to convert the building to rental at this time.
“Since partnering with Douglas Elliman Development Marketing earlier this month, we have already received more than a dozen offers, and we are looking forward to a very busy summer season,” Hakimian said.
Ariel Cohen could not immediately be reached for comment.
The Hakimian Organization and partners bought 75 Wall Street for $185 million from JPMorgan Chase in 2006, and converted it to condominiums shortly thereafter. Corcoran Sunshine had exclusively marketed the building since sales began in 2009.
The building offers residents a yoga studio, multi-media lounge, and rooftop lounge and terrace.
Condos range in size from 440-square-foot studios to 3,420-square-foot penthouses and in price from $685,000 to $7.75 million. Buyers are also eligible for a 421-G tax abatement, according to the statement from Hakimian.
'a very busy summer season' i like that one. fidi runs on a different seasonality from the rest of NYC and US.
Well, to be fair, they did say that they were "looking forward" to it. Given that their last sale seems to have been in mid-2011, they might be looking forward for a long time.
FiDi is an interesting market. A lot of the buildings there seem to have lost site of what made it an attractive place to buy in the first place, namely good value. But thanks to extend and pretend, they can keep living the dream.
Oops, meant "lost sight", not "lost site". Freudian slip!