Open house report: This place looks great, has nice layouts, and acceptable finish for new construction. The penthouses will have nice roof decks and the price is good. Two red flags for me, however: 1. The common charges are too low, even for new construction. This place has an elevator and common roof deck. There is no way the budget is right on this one (20cents/sqft!?). 2. Standing water in a... [more]
Open house report:
This place looks great, has nice layouts, and acceptable finish for new construction. The penthouses will have nice roof decks and the price is good. Two red flags for me, however:
1. The common charges are too low, even for new construction. This place has an elevator and common roof deck. There is no way the budget is right on this one (20cents/sqft!?).
2. Standing water in a hole next to the building. The building sits right at the foot of Fort Tyron granite. This would mean torrential down-flow from face of the hill in even a mild rain. I did not check the basement, but I would guess flooding. The sub pump they had installed was not draining properly at the time of the visit. Money could be thrown at this problem, but on what budget? See #1.
3. Bennett Avenue has a good vibe to it: Russian grandmas, greenery, and Hasids abound, sandwiched between the rock and the backside of Broadway. This building however, is at the dead end of the T intersection with west 190th. Which means you have a direct line to the noise on Broadway, not to mention crappy views to the east. You might as well be on Broadway (not so nice).
Too bad. We pass. Let me know if you have any questions.
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Response by uptown_joe
almost 14 years ago
Posts: 293
Member since: Dec 2011
I actually thought the building was somewhat poorly laid out, especially in comparison to the rest of the area's housing stock (the buildings almost all have good layouts, big rooms, nicely proportioned, etc). The bedrooms and living rooms at 212 Bennett are narrow and in several layouts the walls are angled, so the room narrows as you walk further into it. The common hallway/landing on each floor is also oversized, for no reason I could see, taking space away from the units. Bennett Avenue is indeed nice, but you can get a nicer apartment at 120 Bennett or a few other owner-occupied buildings (or renting).
Over the past year or two they've been playing silly games with list prices on these units -- raised by $4500 here, dropped by $2500 there -- and the prices have been noticeably higher than nearby comps (that seem like better apartments anyway). I guess the low maintenance is supposed to offset the sticker prices, but your points about it inevitably rising to normal condo levels (alongside tax abatements that will expire) make me think resale prices will be tough to swallow.
I also see that a bunch of the units are now for rent, which may complicate financing even for the final round of buyers. It's another indication to me this building is not a big winner.
I actually thought the building was somewhat poorly laid out, especially in comparison to the rest of the area's housing stock (the buildings almost all have good layouts, big rooms, nicely proportioned, etc). The bedrooms and living rooms at 212 Bennett are narrow and in several layouts the walls are angled, so the room narrows as you walk further into it. The common hallway/landing on each floor is also oversized, for no reason I could see, taking space away from the units. Bennett Avenue is indeed nice, but you can get a nicer apartment at 120 Bennett or a few other owner-occupied buildings (or renting).
Over the past year or two they've been playing silly games with list prices on these units -- raised by $4500 here, dropped by $2500 there -- and the prices have been noticeably higher than nearby comps (that seem like better apartments anyway). I guess the low maintenance is supposed to offset the sticker prices, but your points about it inevitably rising to normal condo levels (alongside tax abatements that will expire) make me think resale prices will be tough to swallow.
I also see that a bunch of the units are now for rent, which may complicate financing even for the final round of buyers. It's another indication to me this building is not a big winner.