99 John st.

I think that area of FiDi would probably go up despite the economy, once the Fulton Station is in full operation. With this said, I think that bldg. may be toward the very bottom of the list, if I were to buy in FiDi.

The finishes are among the worst and cheapest-looking I have seen in new conversions. Also, despite the nicer appliances they put in some (but not all) of the units, the fixtures are decidedly cheap. I don't think the price-per-foot is justified at all.

Also, it's a giant bldg. with a bunch of kids in their low to mid 20s. Aside from the noise, there may be other problems associated this (e.g., they tend not to treat things with care, they may not be very nice to the residents they aren't friends with, they are usually highly transient, etc.). There are other, much nicer bldgs. in this price range.

I once saw a 1BR there. Although I was told there was a tenant in place when I saw the place, it looked like there were at least 3 people living in the apartment. That pretty much sums it all up...

As ClintonBuyer points out, this building is not great and has a few disadvantages that stem from its gradual conversion from a rental property that make it less compelling than others in the neighborhood. There's a few interesting apartments with nice views or terraces that might be worth looking at if those are features that you're looking for as they're somewhat hard to come by in the FiDi, but other than that I'd say most of the units are fairly expensive for what you get so I usually don't pay much attention to the building.

Clintonbuyer, you said there are other nicer bldgs in the same price range. Are you talking about fidi? It seems that the new bldgs around the area are much more per sqft.

maybe they are near John's pizza

According to Streeteasy, the average ppsf at 99 John is $940. That's a bit more than 59 John (which has nicer apartments but is a bit more botiquey) and 80 John (nicer finishes, but weird layouts and still a bit cheap-seeming). 90 William is quite a bit cheaper--that's one of the few places in the FiDi with probably worse finishes than 99 John, although it doesn't have the rental conversion problem. 56 Pine is a pretty good "discount" option nearby as well, and 55 Liberty can be cheaper still if you don't mind going the co-op route.

Jordyn ,of the buildings you mentioned ,which would you suggest to buy as a rental property? Are there any other areas downtown on you list to check out.

There are lots of people who rent their apartments at 20 Pine and 15 Broad. Price per sq foot is about the same as 99 John but finishes are 100x nicer. Layouts are a bit odd though. 75 Wall also has a lot of investors, but my opinion is that those apartments are way overpriced. They are asking around $1300/sq ft. The only people who would pay that are smoking dope and jumping rope. 75 Wall isn't as nice as 20 Pine or 15 Broad but costs way more.

99 John has its positives and negatives. If you can get a high floor 1br or 2br that offers nice views, there is definitely some value in the building; especially in the 2brs because they are the only units in the building with washer and dryer, which is important for resale. In terms of location it is a very convenient part of Fidi. They still have a bunch of renters in the building, but as time goes on the building will be fully sold and the overall quality should rise (it’s not bad at all right now). Also unlike most buildings in the area the common chargers are very low (around.60 a sqft). Once the tax abatements run out on some of the nicer buildings in the area, the carrying cost are going to be very high. In regards to purchasing as investor there are definitely better areas to get a higher rate of return if you are planning to rent the apartment.

Dag--I haven't looked at buying for the purpose of investing at all, so I can't help you much. Personally, I wouldn't buy Manhattan real estate as an investment anywhere. As far as I can tell, in most places it's a terrible investment.

ascott... What other areas would you recommend for a higher rate of return. I would like to keep the unit for at least 10 years. I am now going to look at pine and 59 John st. As well...thank you

i rented in 99 John and loved the building (until they made me leave as a renter). The lower floors can be dark. The gym/amenities are great. My only gripe with the roof is there was no bathroom up there so when you have guests, people have to keep trekking back to your apt to go.
Very convenient to the 24 hour grocery and some great places.

The building is changing as it sells. I think the comments about 20 somethings and the negative aspects are reducing every day. The finishes are not the fanciest, but I feel that is represented in the pricing that is well under $1000psf. And as stated, the roof and other amenities are among the best in the area!

Its not a bad building, though typical Fidi area twilight vampire friendly sunlight safety. (Nobody will see your diamond skin sparkle).
Unless of course your on the top floor, I did look at and closely consider PH6.
Living room was just a bit narrow for me and the upstairs diagonal footprint really hurt the bedrooms.
View from the public portion of the roof deck is stellar, though didnt like beach club cabana feel the private deck had to the public portion.
pics 3 and 4 show what Im talking about
http://streeteasy.com/nyc/sale/605466-condo-99-john-st-financial-district-new-york

>Clintonbuyer, you said there are other nicer bldgs in the same price range. Are you talking about fidi?

Sorry for the delayed response, but, yes, I was talking about FiDi. As jordin notes, 59 John is VERY, very nice, and so is 80 John--and their prices are quite reasonable.

Although quite a bit cheaper, 90 William is a different story, though, because I have heard some bad things about the bldg. (asdie from the questionable finishes)... I would probably stay away from that bldg.--although 99 John, to me, is no picnic, either!