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The Cove Club

Started by JWL2672
almost 14 years ago
Posts: 138
Member since: Mar 2012
Why does this building have outrageously high common charges, even compared to neighboring buildings in Battery Park City?
Response by Truth
almost 14 years ago
Posts: 5641
Member since: Dec 2009

Any building that has "Club" in its name thinks that will fool you into paying.

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Response by harlembuyer
almost 14 years ago
Posts: 176
Member since: Dec 2010

Omigod, how can they sell any of these apartments?

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Response by ba294
almost 14 years ago
Posts: 636
Member since: Nov 2007

Most battery park city condos are landleased with high CC/Taxes. Avoid at all cost.

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Response by wavedeva
almost 14 years ago
Posts: 209
Member since: Jan 2006

Each building's developer in BPC negotiated a deal with the Battery Park City Authority. Add to this tax abatements and buy downs and common charges are all over the place. See these SE discussions--especially posts by prospective (1st discussion) and prada (2nd). One poster, prada, stated that Liberty View has the lowest common charges in BPC.

http://streeteasy.com/nyc/talk/discussion/22159-the-new-rector-park

http://streeteasy.com/nyc/talk/discussion/19757-battery-park

The Cove Club and The Regatta were the first two condo buildings built in BPC. It is my understanding that their developers negotiated relatively low lease rates on the front end, with higher increases in latter years. Well now everything is hitting the fan and these two buildings on a square foot basis have the highest condo fees in the country. Of course, this is reflected in the unit prices. It sucks to be them.

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Response by prada
almost 14 years ago
Posts: 285
Member since: Jun 2007

wavedeva.....My mistake in my original posting....LIBERTY HOUSE has the lowest common charges in BPC

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Response by wavedeva
almost 14 years ago
Posts: 209
Member since: Jan 2006

@prada Thanks for the correction!

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Response by robertstein
almost 13 years ago
Posts: 0
Member since: Feb 2009

unit 3C, has been sold above asking. The broker did a great job representing the seller for that unit

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Response by greensdale
almost 13 years ago
Posts: 3804
Member since: Sep 2012

Congratulations!

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Response by columbiacounty
almost 13 years ago
Posts: 12708
Member since: Jan 2009

i'm amazed that you are running wild here.

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