the 505...negotiable on price? thoughts?

With that number of units available, there should be some room to negotiate. I inquired about a property in this building about 2 months ago and was told the only available unit available was a ground floor unit (I'm buying a property in Williamsburg instead). Looks like many more units have been released. I don't think they are targeting families for this building. I don't think you will lose value on these properties as Hell's Kitchen/Clinton continues to develop.

looks to be the most affordable new construction around (below harlem). are studios and 1bds downscale or just catering to single/professionals? 2bds and up are for young families and the neighborhood and especially the public schools around there probably don't support them. there's another fairly long thread on the 505 here from awhile back. i think noise from the train tracks below was an issue. the block could use some help, not the prettiest... there's an auto repair place right next door that caters to taxis. One of the largest ad agency's ogilvy and mather is moving their headquarters a block west to 47th and 11th ave. and a luxury hotel is going up there on 11th too, so there seems to be confidence in the area.

This is from the Real Estate section of the www.nysun.com. Seems to contradict the numbers on Streeteasy. Interesting set of buyers.
"Ian Reisner, one of the developers of a 108-unit condominium project at West 47th Street and Twelfth Avenue in Hell's Kitchen, the 505, is bullish on the market. "Our project is literally on fire, selling over 90 of the 108 units in the last 12 weeks. We sold seven units in the last 10 days and five of them for over $1 million %u2014 our most expensive unit. Our buyers are foreigners, out-of-towners looking for a near Broadway pied ࠴erre, or single working women looking to live near their Midtown offices or gays that love the new Chelsea. They actually call our neighborhood 'Helsea' or 'Chelsea Heights.'"

I am not sure as most of the units are sold out, acc. to Nestseekers. The only ones left are PHs and high priced 2bdrms. Those perhaps you can get help on the closing costs? But overall, this development has been received very well. I think it's because of the development potential of Hells Kitchen and also you just can't find any cheap condos anymore in Manhattan anywhere! Yikes...

Attention: All 505 Future Homeowners and Contractees

If you are in contract at the 505 and have not already joined our group on Facebook, we ask you to contact us immediately to discuss thoughts about the development as we approach crucial closings in the next few months. Brokers, sales agents and other parties - DO NOT REPLY. This group is for FUTURE RESIDENTS ONLY.

505HKResidents@gmail.com

We look forward to hearing from you.

-Future 505HK Residents

Anyone know the name of the lawyer handling the case for the group of tenants against 505?

Jack Harari