Will the minimum $4000 psf prices entice all the foreign luxury buyers out of the general market. After all there are 95 apartments -- low floor 2 bedrooms start at $7 million so that would assume no view. And will those buyers of Extell's 157 west 57th lose value on their apartments when Vornado starts to market its equivalent of "15 CPW" on Central Park South? Work on that building starts this... [more]
Will the minimum $4000 psf prices entice all the foreign luxury buyers out of the general market. After all there are 95 apartments -- low floor 2 bedrooms start at $7 million so that would assume no view.
And will those buyers of Extell's 157 west 57th lose value on their apartments when Vornado starts to market its equivalent of "15 CPW" on Central Park South? Work on that building starts this summer. So in two years will Extell have sold out 157? Or will a price war begin with Vornado.
What will happen to the other luxury buildings being marketed. Is there a big enough market to include these very rich prices?
http://therealdeal.com/blog/2012/02/01/one57-over-30-percent-sold-extells-barnett-says/[less]
Response by w67thstreet
over 14 years ago
Posts: 9003
Member since: Dec 2008
Sorry no bearing on me. I'm in the $5mm 2 bdrm market......
Ignored comment.
Unhide
Response by w67thstreet
over 14 years ago
Posts: 9003
Member since: Dec 2008
Flmaozzzz. What's so funny is I had a Borker's husband saying some such and such that a new development was 60% sold and of he should buy in also.
My passing comment to him was, you do know most developments have several points in the timeline where they can walk for free? So it's usually a bunch of 'friends' of friends that jump in and the developer and borkers can start touting the (fill in blank percentage) SOLD!
He was like really.... I waz like 'your wife is sleeping with Pedro'. He waz still like 'you mean developers lie?' I was like like get me a ham and Swiss cheese on toast....
Really? That would be a minimum of about 40 units. Too bad there is nothing in SE yet to back this up. Well, I guess we will have to take Mr Barnett's word for it.
Ignored comment.
Unhide
Response by apt23
over 14 years ago
Posts: 2041
Member since: Jul 2009
I think it would at the very least put pressure on less successful luxury conversions like the Plaza and The Apthorp. But it would be a very long trickle down to reach my purchase range.
Ignored comment.
Unhide
Response by huntersburg
over 14 years ago
Posts: 11329
Member since: Nov 2010
Hi Truth. You are not on apt23's list of approved grey people. Only w67 and wbottom.
Ignored comment.
Unhide
Response by Truth
over 14 years ago
Posts: 5641
Member since: Dec 2009
I know, huntersburg. I usually don't post on her threads but now that I know she doesn't read me...
Ignored comment.
Unhide
Response by inonada
over 14 years ago
Posts: 8085
Member since: Oct 2008
"Really? That would be a minimum of about 40 units. Too bad there is nothing in SE yet to back this up. Well, I guess we will have to take Mr Barnett's word for it."
You apparently do not understand Extell-speak. When they say "over 30 percent sold", it means that they put three apts on the market and one was sold. To the exclusive broker for the building, that is.
Ignored comment.
Unhide
Response by Bill7284
over 14 years ago
Posts: 631
Member since: Feb 2009
"they put three apts on the market and one was sold"
How sad. When we all know that time does two things, it marches on and tells.
Sorry no bearing on me. I'm in the $5mm 2 bdrm market......
Flmaozzzz. What's so funny is I had a Borker's husband saying some such and such that a new development was 60% sold and of he should buy in also.
My passing comment to him was, you do know most developments have several points in the timeline where they can walk for free? So it's usually a bunch of 'friends' of friends that jump in and the developer and borkers can start touting the (fill in blank percentage) SOLD!
He was like really.... I waz like 'your wife is sleeping with Pedro'. He waz still like 'you mean developers lie?' I was like like get me a ham and Swiss cheese on toast....
Apparently not enough negativity was generated by apt23's thread this morning, so another thread this afternoon and an invitation for w67 to go through the "backdoor" http://streeteasy.com/nyc/talk/discussion/25684-w-67s-prediction-come-to-pass-thru-the-backdoor
w67th: Props for that comment.
But w67th is right about developers "selling" to friends.
http://streeteasy.com/nyc/building/one57-condominium
Really? That would be a minimum of about 40 units. Too bad there is nothing in SE yet to back this up. Well, I guess we will have to take Mr Barnett's word for it.
I think it would at the very least put pressure on less successful luxury conversions like the Plaza and The Apthorp. But it would be a very long trickle down to reach my purchase range.
Hi Truth. You are not on apt23's list of approved grey people. Only w67 and wbottom.
I know, huntersburg. I usually don't post on her threads but now that I know she doesn't read me...
"Really? That would be a minimum of about 40 units. Too bad there is nothing in SE yet to back this up. Well, I guess we will have to take Mr Barnett's word for it."
You apparently do not understand Extell-speak. When they say "over 30 percent sold", it means that they put three apts on the market and one was sold. To the exclusive broker for the building, that is.
"they put three apts on the market and one was sold"
How sad. When we all know that time does two things, it marches on and tells.