If you have any interest in using the roof deck, stay at the Andaz hotel and attend an Andaz event but do not rent or buy here. Andaz reserves the roof deck very frequently preventing residents access. Also, Andaz guests use the 75 Wall elevator to access the roof (so what's the point in having a doorman when anyone can enter the elevators AND ROAM THE HALLS outside your apartment!?). This is... [more]
If you have any interest in using the roof deck, stay at the Andaz hotel and attend an Andaz event but do not rent or buy here. Andaz reserves the roof deck very frequently preventing residents access. Also, Andaz guests use the 75 Wall elevator to access the roof (so what's the point in having a doorman when anyone can enter the elevators AND ROAM THE HALLS outside your apartment!?). This is significantly more annoying than when the roof is rented out for a movie filming (although they normally close off 2 of the 4 elevators for this, at least the intrusion only lasts a matter of days and then it's over). Go to a similarly priced building with a similar roof deck reserved for renters and owners in the building! It's safer and you will get your money's worth.
This does not even account for the squeaky floors, brutally hot hallways and elevators (I could not imagine living here while pregnant), lack of repairs (Hello-can anybody make the refrigerator stop beeping!?), and air conditioning issues. If you want more information on these issues check out what the other posters have to say because they are 100% accurate.
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Response by NYCMatt
over 13 years ago
Posts: 7523
Member since: May 2009
I visited this building over the weekend.
You're right about the stuffy hallways and elevators. It's like there's no air conditioning at all. And the fancy in-wall a/c inside the units feels kind of weak.
I was also disappointed with the outsized listing prices vs. layout size. What would be considered a "country kitchen" outside of NYC (kitchen with generous seating area) is called a "living room" in this building. Yes, it has tall ceilings, great exposures and fantastic views, but the "living room" (with kitchen cabinets and appliances on one side) is barely 15x15. The master bedroom is modest at best, but it's nice to have two other small bedrooms. The closets are generous, as well as the bathrooms, although not surprisingly they all lack windows, which is a chronic problem with these former office buildings that were never intended to be residential. Another problem in all the units is the chronic lack of cross-ventilation, since the window(s) are usually only on one side of the apartment.
What was most disappointing was the price: $2.7 million for this diminutive three-bedroom. Plus $1500 common charges. Plus $1800 taxes (after the abatement ends).
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Response by dealboy
over 13 years ago
Posts: 528
Member since: Jan 2011
What's worse, your grossly overpriced watch or your grossly overpriced condo ?
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Response by downtown1234
over 13 years ago
Posts: 349
Member since: Nov 2007
I as big a supporter of the Financial District as they come, but I've been saying since 2009 that the Sponsor is smoking dope if he thinks he is going to sell apartments at the price he is asking. 75 Wall is no nicer than any other building in FiDi that tried to do the same thing and failed miserably (anybody remember 25 Broad, William Beaver House or the Setai; it took a foreclosure to finally get the Setai to price units for the market). 75 Wall averages 1 (or at most, 2) sales a month for the last 2-3 years. I have no idea how the Sponsor still hasn't lost control of the building as the minimal sales seem like they wouldn't even be enough to cover interest on the construction loan. At $1400/sq ft (and more 3 bedrooms and up), 75 Wall will keep selling 1 or 2 units a month, probably to foreign buyers who haven't even been to the building and don't know the difference between Wall Street and 5th Avenue.
As for the roof - when I looked at the place a few years ago, the sales department made is crystal clear to me the amenities for the condos were only for the condos owners and not shared with the hotel. If I bought I place there and had to share my amenities with hotel guests, I would be f-ing pissed!
I may actually swing by 75 Wall one of these days and listen to the sales team from Elliman try to convince me that 75 Wall is worth $1400/sq ft. I need a good laugh.
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Response by downtown1234
about 13 years ago
Posts: 349
Member since: Nov 2007
Remember this article from JUNE 5?? "we have already received more than a dozen offers, and we are looking forward to a very busy summer season"
Not surprising, since June 5, there have been a totally of exactly TWO closings at 75 Wall.
Prudential Douglas Elliman has taken over marketing of 75 Wall Street, the new development residential condominiums that sit atop the Andaz hotel, from the Corcoran Sunshine Marketing Group. The building, at Water Street in Lower Manhattan, is also now 50 percent sold, according to the project’s developer, the Hakimian Organization.
Ariel Cohen, head of an eponymous group at Elliman, is now spearheading sales at the 364-unit tower, taking over from Corcoran Sunshine Marketing Group, which had reportedly sold 175 units there. Corcoran Sunshine did not immediately respond to request for comment.
In February, there was speculation that the property was going rental amid slow sales. But things have picked up, according to Ben Hakimian, president of the Hakimian Organization. The “current momentum is a testament to … our unbeatable amenities platform,” he said in a statement released to The Real Deal. A spokesperson for Hakimian said there are no plans to convert the building to rental at this time.
“Since partnering with Douglas Elliman Development Marketing earlier this month, we have already received more than a dozen offers, and we are looking forward to a very busy summer season,” Hakimian said.
Ariel Cohen could not immediately be reached for comment.
The Hakimian Organization and partners bought 75 Wall Street for $185 million from JPMorgan Chase in 2006, and converted it to condominiums shortly thereafter. Corcoran Sunshine had exclusively marketed the building since sales began in 2009.
The building offers residents a yoga studio, multi-media lounge, and rooftop lounge and terrace.
Condos range in size from 440-square-foot studios to 3,420-square-foot penthouses and in price from $685,000 to $7.75 million. Buyers are also eligible for a 421-G tax abatement, according to the statement from Hakimian.
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I visited this building over the weekend.
You're right about the stuffy hallways and elevators. It's like there's no air conditioning at all. And the fancy in-wall a/c inside the units feels kind of weak.
I was also disappointed with the outsized listing prices vs. layout size. What would be considered a "country kitchen" outside of NYC (kitchen with generous seating area) is called a "living room" in this building. Yes, it has tall ceilings, great exposures and fantastic views, but the "living room" (with kitchen cabinets and appliances on one side) is barely 15x15. The master bedroom is modest at best, but it's nice to have two other small bedrooms. The closets are generous, as well as the bathrooms, although not surprisingly they all lack windows, which is a chronic problem with these former office buildings that were never intended to be residential. Another problem in all the units is the chronic lack of cross-ventilation, since the window(s) are usually only on one side of the apartment.
What was most disappointing was the price: $2.7 million for this diminutive three-bedroom. Plus $1500 common charges. Plus $1800 taxes (after the abatement ends).
What's worse, your grossly overpriced watch or your grossly overpriced condo ?
I as big a supporter of the Financial District as they come, but I've been saying since 2009 that the Sponsor is smoking dope if he thinks he is going to sell apartments at the price he is asking. 75 Wall is no nicer than any other building in FiDi that tried to do the same thing and failed miserably (anybody remember 25 Broad, William Beaver House or the Setai; it took a foreclosure to finally get the Setai to price units for the market). 75 Wall averages 1 (or at most, 2) sales a month for the last 2-3 years. I have no idea how the Sponsor still hasn't lost control of the building as the minimal sales seem like they wouldn't even be enough to cover interest on the construction loan. At $1400/sq ft (and more 3 bedrooms and up), 75 Wall will keep selling 1 or 2 units a month, probably to foreign buyers who haven't even been to the building and don't know the difference between Wall Street and 5th Avenue.
As for the roof - when I looked at the place a few years ago, the sales department made is crystal clear to me the amenities for the condos were only for the condos owners and not shared with the hotel. If I bought I place there and had to share my amenities with hotel guests, I would be f-ing pissed!
I may actually swing by 75 Wall one of these days and listen to the sales team from Elliman try to convince me that 75 Wall is worth $1400/sq ft. I need a good laugh.
Remember this article from JUNE 5?? "we have already received more than a dozen offers, and we are looking forward to a very busy summer season"
Not surprising, since June 5, there have been a totally of exactly TWO closings at 75 Wall.
Prudential Douglas Elliman has taken over marketing of 75 Wall Street, the new development residential condominiums that sit atop the Andaz hotel, from the Corcoran Sunshine Marketing Group. The building, at Water Street in Lower Manhattan, is also now 50 percent sold, according to the project’s developer, the Hakimian Organization.
Ariel Cohen, head of an eponymous group at Elliman, is now spearheading sales at the 364-unit tower, taking over from Corcoran Sunshine Marketing Group, which had reportedly sold 175 units there. Corcoran Sunshine did not immediately respond to request for comment.
In February, there was speculation that the property was going rental amid slow sales. But things have picked up, according to Ben Hakimian, president of the Hakimian Organization. The “current momentum is a testament to … our unbeatable amenities platform,” he said in a statement released to The Real Deal. A spokesperson for Hakimian said there are no plans to convert the building to rental at this time.
“Since partnering with Douglas Elliman Development Marketing earlier this month, we have already received more than a dozen offers, and we are looking forward to a very busy summer season,” Hakimian said.
Ariel Cohen could not immediately be reached for comment.
The Hakimian Organization and partners bought 75 Wall Street for $185 million from JPMorgan Chase in 2006, and converted it to condominiums shortly thereafter. Corcoran Sunshine had exclusively marketed the building since sales began in 2009.
The building offers residents a yoga studio, multi-media lounge, and rooftop lounge and terrace.
Condos range in size from 440-square-foot studios to 3,420-square-foot penthouses and in price from $685,000 to $7.75 million. Buyers are also eligible for a 421-G tax abatement, according to the statement from Hakimian.
They are still selling sponsor units!
So is 351 E51st.
was 351 E51st / Beekman Regent a rental before?
No.
No.