212 East 47th

i went to see it a few months ago - i live in the area. they're standard, if not cookie cutter layouts...nice fixtures... the 2BR's we looked at all had balconies but they overlooked E 46th street which wasn't that desirable because Sparks is right there. pricing is decent but maintanance / taxes are pretty high.

yeah, the taxes and maintenance are really high. pricing is ok, but midtown location is really commercial. don't think they've sold a lot of units.

yes, the most residential blocks in midtown east are between 1st and 2nd aves. that particular block (47 b/w 2 & 3) isn't really that bad (and 48th b/w 2&3 is actually really nice) but once you hit 3rd avenue you're next to huge office buildings.

We saw this condo about 7 months ago - the one bedrooms felt really small and the finishings were unimpressive. At that time, they were converting the lobby, which looked like a big construction zone. Should be much better now. The neighborhood is very impersonal but hard to argue against a midtown location in walking proximity to Grand Central.

I stayed there for a couple of months two years ago when I initially moved to NY on a corporate short let. I don't mind the area to be honest (I now stay in the lovely Metropolis building on 44th btwn 3rd and Lex) but I didn't like the building. The rooms were just very generic and had absolutely no outlook. I wasn't a fan of the laundry room either. When I noticed it was on the market I had a look at the prices and thought it was very expensive and I can't see how it will appreciate when there are a lot of nicer building close by for the same price per square foot.

212 east 47th street hit the market May 7th 2007 and when my broker brought me there she told me it would be gone in a year or so. I happened to buy and I am glad that I did. 212 is nearly 90% sold out and the construction should be out by Nov / Dec of 2008. They installed a brand new laundry facility and an amazing fitness center on the entire second floor. It's absolutely beautiful. I know a lot of people like to bark and yap, but it's pretty much the ones who never end up buying anyhow. I rent my unit to a financial worker who loves the fact that she can walk to her job up on Park and 45th. I did a little research prior to my signing and found that when 212 (L'Ecole) was a rental building it was one of the most successful rental building in the area because of it's location. I spoke to a lot of the tenants there and I have to say that almost everyone I spoke to work within a 4 block radius. This had "good opportunity" for my investment written all over it. The roof deck isn't open yet because they are refinishing the entire outside of the building, but when it is finished sometime early spring they will begin to furnish and landscape the roof deck. It's truly a gem of a building.

turtlebay..

Curious, how much did your unit (1br?) rent for?

It was a successful rental building because they always charged about $200 below market. Many of the apartments were like college dorms and the elevators used to never work. The rental building had a roof deck so I don't know why it won't be open yet.

To me TurtleBay reads like an obvious shill.

I also bought a unit here during the first offering before they started raising the prices. I think I got a good deal on it and am fairly content. The renovation's taking forever though... hallway on my floor is still an absolute mess, with stripped and unpainted walls, ripped carpet. Fortunately, my unit's pristine and for a single mid 20s male, who's rarely home, it's not so terrible. However, I definitely would not recommend it for a family with kids, not until they finish common area renovations.

The doormen are really awesome, they'll happily do all kinds of favors for you (except one dude who's a little unfriendly). Building management is located in the same building, and although they're a bit slow to react, get things done (eventually..)

@zizizi

TurtleBay does sound like a shill.... especially that part about constuction being done by Nov/Dec of 08. I've been promised it'll be done (at least for the hallways on my floor) march 08, then may, now it's god knows when.

I hear a major problem is the lack of elevators- there aren't enough, so the wait can be long. Can't imagine what it will be like when the building is actually full.

I recently took a tour. The finish in the apartments was magnificent (especially, I liked the natural look, not the dark), and the fitness ctr is nice. At the same time, the common areas felt cheap/dated, and I don't understand the exceedingly high CC for such a big bldg. with so many units--with minimal amenities (e.g., no resident lounge, no FreshDirect receiving boxes, no sun deck, etc.).

In the end, we chose not to buy there.

The building used to be the warehouse of 47 st photo before it was converted.

I saw the building last year as well. Overall I thought it was just lipstick and makeup. Renovations were shallow to make you think it is worth a lot more. Somethings I noticed, is there is a noticable dip in the floors. Which means, for an old building, they didn't bother leveling it before putting brand new flooring. And the reason for the high CC, is because the building is ran on central steam pipes that circulates hot water throughout the building 24/7. So whether you are using the heaters or not, that thing is running. The same goes for the AC. You were just paying to have them turn the fan on. Typically now a days, you should look for condos that have a W/D in them. Otherwise it means there is something wrong with the pipes.

Agreed. The staff are absolutely wonderful. the same cannot be said of the worksmanship. I moved in 4 months ago and the cement grout in between the bathroom tiles has cracked and fallen out. I googled and found out that
"Q. What's the life span of grout in a tiled shower?

A. With today's grout, it is seven to 10 years, based on two showers a day.

"
http://www.thefranchisemall.com/news/articles/14793-0.htm

this does speak volume about the worksmanship....doesn't it?

Please fill us in on disgruntled's issue (so to speak), TurtleBay.

Dork.

Good to see the developer spent time in Darien or Potomac, Md. and the living rooms are known as "great room"s.

Just don't ask about the "mud room" -- if you catch my drift.

I think I must have the worst of luck with this building. First a leaking pipe in the bathroom, then a leaking sink, then the grout problem and now, intrusion. I wanted to unpack my cloak closet and realised that my stuff is covered in a layer of dust. One of the wheels of my samsonite suitcase had come off, my coats are covered in dust and the developer never informed me that they are still working on stuff. How rude is that? Someone came in to fix stuff and never told me about it. Never even told me that they broke my suitcase. So disappointed with whom I am dealing with.

And who has the time to deal with all this crap! So upset!

to Disgruntled Buyer
As a landlord of some 20 rental properties throughout the city, I am truly sorry to hear of your inconveniences. My tenant has had some minor issues too, but none have been anything out of the ordinary when moving into a building that is undergoing a renovation. When my renter came to see the unit she was fully aware of the current construction issues but assured me that this was where she wanted to be. Again, one of the biggest draws of this building is it’s proximity to most business’ on Park Ave in the 40’s and 50’s. But this is not to say that she does not deserve the right to quiet enjoyment while living there. As for the name calling… it’s not what I invest in.

for a little more $$ .... 211 E51 is better