345meatpacking - Great Investment

Buyers in this building should bend over and be prepared for some meat packing! Flmaozz.

Is that what the borkers call it now?, meatpacking instead of open houses?

yes with sumptuous amenities! buy NOW pr be priced out forever...

would 345hidethesalami be a great investment too?

jarrodr: what is the status of this building. When will they be selling apts there. What is the price range?

I thought SE is supposed to quarantine the first bunch of posts from obvious trolls like jarrodr ... why didn't that work?

345 West 14th Street + Great investment = Hypocrisy

And, you are creating great PR for this new building, located on prime real estate.

I lived around the corner on 9th ave and 15th st. I dont advise it. Its non stop car, bus and pedistrian traffic.

lock & ban

A "great investment" is when your apartment's value increases at a higher rate than inflation, along with many additional factors, both locally and nationally (Manhattan is, however, in a unique "economic bubble" where the additional factors, such as location, construction quality, views, etc. play a much more relevant role in determining the difference between a poor, good, great, and excellent investment). I'm not in the market for writing a book about what constitutes as a great investment, but I do feel inclined to leave an extended comment regarding this topic as ai live in the neighborhood and am very educated on what's happening with regard to new developments in the city.

345 W 14th is a lovely and well constructed condo, despite the low ceiling height of only nine feet and its extremely bustling location, which is a pro for some and a con for many. It is not, however, a "great investment" in any way, shape, or form at the current asking prices of well over $2k/psf. And one bedroom apartments aren't typically good as investments, unless the investor owns multiple one bedrooms or plans to slowly grow the investment by through a 1031 exchange, which simply defers the recognition of capital gains or losses due upon sale when money from the sale is used to purchase another "like-kind" investment property. Even though the one beds happen to be priced a little under $2k/psf, they are still considerably higher than the neighborhood's comparable average price per square foot. Also, this is not a location that has much room for a dramatic increase in value any time soon. There was a lot of room back in the old days (pre "Meat Packing District" hype). When all is said and done, you are not likely going to loose money if you purchase and plan to live there for several years. You may even put a few bucks in your pocket if a good broker helps you negotiate 5-10% off the listing price. Quite simply, there is absolutely no value here for the purpose of investing provided the listing price remains above $2k/psf.

Please note, I am a broker with Prudential Douglas Elliman and this is strictly my own professional opinion. Feel free to agree with, comment on, bash, or continue this discussion (or anything else related to real estate) with me privately via email at TAndrews@Elliman.com.

I agree with Tristan.

Obscenely overpriced. Hardly a "great investment".

I took one look at what the developer calls a "one bedroom" (it's more like a studio+bedroom). Very tight. Perfect for a pied-a-terre, but stupidly priced at 1.45 million.

Does it come with a canoe?

i just looked at the floorplans and can't seem to find 25% of sq ft in each apartment. can someone explain that please?

so if you use real sq footage, you're closer to $2.5K psf.

Not to mention to cc's which seem absurdly high as well...

But you get to live in last decade's "new" neighborhood. Priceless.

AR - what is your opinion on next decade's new neighborhood?

Any insight into sponsor's flexibility

seems like units are selling like hot cakes

The meatpacking district was a better area when it had more meat and less trash

>The meatpacking district was a better area when it had more meat and less trash

Nice

Wouldn't a studio + a bedroom be a "One Bedroom"?

After looking up and down Chelsea/Flatiron/West Village for 4 months, I decided to buy a "One Bedroom" here at 345 Meatpacking. I paid $1,500psf for a south facing apartment to be used as a Pied-a-Terre and quite honestly I am very excited to move in. What I found with NYC apartment searches is everything is about trade-offs. Ceiling height, light, view, finishes, ammenities, square footage and of course price. This apartment was the best I've seen in this price range, period. Perhaps the one bedroom plus and the two bedrooms priced in the $2,000psf range is more questionable, but I can't help but feel that I got a great deal!

As far as the neighborhood goes, that was probably my biggest concern. It certainly is a busy corner, but the building is at the crossroads of Chelsea/Meatpacking/West Village. There is so much culture, shopping, dining, and transportation right outside your door. I suspect Friday and Saturday nights will have increased pedestrian traffic, but I don't plan on spending any time in the apartment on weekends. And if I did, it would be to enjoy the NYC nightlife anyway!

Just my two cents.