Prices have dropped in this building over the past year. I gather people are turned off by the proposed garbage site and the hurricane damage. Just looked at 1 bedroom apartments in the H line like this one: http://streeteasy.com/nyc/sale/835370-coop-200-east-end-avenue-yorkville-new-york You can't see the current garbage site from the windows. I lived near a site like this in another borough... [more]
Prices have dropped in this building over the past year. I gather people are turned off by the proposed garbage site and the hurricane damage.
Just looked at 1 bedroom apartments in the H line like this one:
http://streeteasy.com/nyc/sale/835370-coop-200-east-end-avenue-yorkville-new-york
You can't see the current garbage site from the windows. I lived near a site like this in another borough years ago. There were no odors and traffic was kept under control. So I'm not sure that this is going to be as bad as people think.
However, the hurricane damage is another matter. They seemed to get things restored very quickly. The brokers say they plan to install hurricane protections against wind and water damage similar to those used commercially in Florida, such as Storm Walls.
With prices so low and these plans in place, this sounds like a potentially good deal. Just not sure.
Any comments?
[less]
Response by brooksvale
almost 13 years ago
Posts: 56
Member since: Jun 2009
if you read the marine transfer proposal, they have crude topographical elevations of all the surrounding areas. flood zones seem to be further north from the proposed site
Ignored comment.
Unhide
Response by kharby2
almost 13 years ago
Posts: 279
Member since: Oct 2009
It's evacuation zone B. Not merely c, B. (You can click on any address in StreetEasy and get the evacuation zone, if any.)
You would have been strongly advised to evacuate during Sandy; as I recall evacuation was mandatory for zone B in that storm. It's a misdemeanor, a crime, to stay, albeit it's rarely enforced. You got a place to go? With your pets? Got a car nearby to pack your essential stuff into? You need to have an evacuation plan.
My perspective is definitely affected by living in Long Beach, NY, where there are large apartment buildings that are still empty. My husband and I decided we will not buy in any storm zone, not even C (so many tempting places), and B of course is worse. We might be unusual, but if we aren't, that could affect resale.
At least go to the FEMA websites and spend some time researching exactly what you are putting yourself at risk for. It's sobering reading, but it's all there for anyone to study.
As far as storm hardening: It can't be a bad thing to do. But how effective will it be? As part of due diligence I would get very specific information--exactly what they are doing, when, what are the specs on all the products being used. The important difference between NYC and Key West regarding storms is that it gets COLD up here. They don't have to worry about their pipes freezing after a storm the way we do, not to mention living in a place that's freezing cold for weeks and even months on end, as people did in the Northeast. What you have to worry about is a building that is unfit for occupancy for awhile after a storm.
Sandy was actually a lot nicer storm than it could have been. It wasn't even a hurricane by the time it hit NYC. Winds were not much of an issue, despite all the downed trees in Nassau County. If it had been category 1 or 2.....
Fortunately for the sellers, most people seem to be in denial about another storm, including a lot of my former neighbors in Long Beach (we sold and moved out), and if you buy there you will probably find a buyer in the future who is similarly optimistic about storms.
Ignored comment.
Unhide
Response by kharby2
almost 13 years ago
Posts: 279
Member since: Oct 2009
Sorry above post should have said zone B was NOT under mandatory evacuation for Sandy.
Here's a good link suggesting that at least in some areas, zone B should be interpreted as zone A
Those storm walls & the retro fitting of the building won't come cheap. Do I smell hefty assessments?
Ignored comment.
Unhide
Response by Oxymoronic
almost 13 years ago
Posts: 165
Member since: Dec 2007
Jelj,
I think you may be right about the discounts being overstated and now may well be the right time to buy.
Let me be clear, this is a question of relativity. There will always be a significant discount attached to the property. It's right on the FDR with the signficant noise that creates. The waste transfer station will definitely be a consideration. Even in the absence of smell, the 100s of trucks a day can't simply teleport to 91st and York but I think that's a broader consideration for those living clsoe. (I've tried to understand how the trucks will be routed but don't see any information on this). My only comfort is that East End Avenue and York are not typical truck routes but this doesn't solve for 200 EEA. There's also the maintenance and potential future assessment potential with the flood remediation.
All that being said, the price may still be compelling. Less than $700k for a good size one bedroom in Manhattan has to be attractive to some.
Ignored comment.
Unhide
Response by jelj13
about 12 years ago
Posts: 821
Member since: Sep 2011
The building is not having assessments. Insurance is picking up the cost.
Ignored comment.
Unhide
Response by jelj13
over 10 years ago
Posts: 821
Member since: Sep 2011
What's going on with StreetEasy? I've received postcards from brokers that announce they have sold apartments 8L and 6G . StreetEasy has them marked "no longer available". Apt. 7A is listed as "in contract" while under PAST SALES it's listed as closed on 9/17/15.
Ignored comment.
Unhide
Response by jelj13
over 10 years ago
Posts: 821
Member since: Sep 2011
Still don't understand what's going on with StreetEasy. ACRIS shows that 8L sold for 948K (estate sale) and 6G sold for 765K. They are both listed as "off the market". StreetEasy lists 7A , dated 9/28, "off the market" but has a second entry marked 600K closing as of 9/17.
201 w 89 st, 2D is listed "in contract". The sales page shows it as sold for 651K as of 9/3.
Ignored comment.
Unhide
Response by JJ2
over 10 years ago
Posts: 114
Member since: May 2014
@jelj13
Building looks to be of good value . let us know what you end up doing there
Ignored comment.
Unhide
Response by NWT
over 10 years ago
Posts: 6643
Member since: Sep 2008
Looks as if SE's routine that matches closings to listings has broken or hasn't been run.
and "A skyline graphic indicates a closing that hasn't been matched to a listing."
Ignored comment.
Unhide
Response by NWT
over 10 years ago
Posts: 6643
Member since: Sep 2008
Can't paste SE's own URLs. Go look at recorded sales for the last month. A skyline graphic indicates a closing that hasn't been matched to a listing.
Ignored comment.
Unhide
Response by NWT
over 10 years ago
Posts: 6643
Member since: Sep 2008
Auto-matching seems to work if a listing's previous status was "In contract", but not if it was "No longer available." So SE remains worth what we pay for it.
Ignored comment.
Unhide
Response by urbandigs
over 10 years ago
Posts: 3629
Member since: Jan 2006
https://urbandigs.com/ -- Type in your address in Building Closed Sales and scroll down to past sales table. Cant post the building url in this forum anymore, the url will be blocked
Ignored comment.
Unhide
Response by jelj13
over 10 years ago
Posts: 821
Member since: Sep 2011
SE used to report this info accurately. URBANDIGS.COM seems to do a better job now.
if you read the marine transfer proposal, they have crude topographical elevations of all the surrounding areas. flood zones seem to be further north from the proposed site
It's evacuation zone B. Not merely c, B. (You can click on any address in StreetEasy and get the evacuation zone, if any.)
You would have been strongly advised to evacuate during Sandy; as I recall evacuation was mandatory for zone B in that storm. It's a misdemeanor, a crime, to stay, albeit it's rarely enforced. You got a place to go? With your pets? Got a car nearby to pack your essential stuff into? You need to have an evacuation plan.
My perspective is definitely affected by living in Long Beach, NY, where there are large apartment buildings that are still empty. My husband and I decided we will not buy in any storm zone, not even C (so many tempting places), and B of course is worse. We might be unusual, but if we aren't, that could affect resale.
At least go to the FEMA websites and spend some time researching exactly what you are putting yourself at risk for. It's sobering reading, but it's all there for anyone to study.
As far as storm hardening: It can't be a bad thing to do. But how effective will it be? As part of due diligence I would get very specific information--exactly what they are doing, when, what are the specs on all the products being used. The important difference between NYC and Key West regarding storms is that it gets COLD up here. They don't have to worry about their pipes freezing after a storm the way we do, not to mention living in a place that's freezing cold for weeks and even months on end, as people did in the Northeast. What you have to worry about is a building that is unfit for occupancy for awhile after a storm.
Sandy was actually a lot nicer storm than it could have been. It wasn't even a hurricane by the time it hit NYC. Winds were not much of an issue, despite all the downed trees in Nassau County. If it had been category 1 or 2.....
Fortunately for the sellers, most people seem to be in denial about another storm, including a lot of my former neighbors in Long Beach (we sold and moved out), and if you buy there you will probably find a buyer in the future who is similarly optimistic about storms.
Sorry above post should have said zone B was NOT under mandatory evacuation for Sandy.
Here's a good link suggesting that at least in some areas, zone B should be interpreted as zone A
http://www.bkbureau.org/why-citys-flood-maps-got-it-wrong#.UZzHQP3D-Hs
Those storm walls & the retro fitting of the building won't come cheap. Do I smell hefty assessments?
Jelj,
I think you may be right about the discounts being overstated and now may well be the right time to buy.
Let me be clear, this is a question of relativity. There will always be a significant discount attached to the property. It's right on the FDR with the signficant noise that creates. The waste transfer station will definitely be a consideration. Even in the absence of smell, the 100s of trucks a day can't simply teleport to 91st and York but I think that's a broader consideration for those living clsoe. (I've tried to understand how the trucks will be routed but don't see any information on this). My only comfort is that East End Avenue and York are not typical truck routes but this doesn't solve for 200 EEA. There's also the maintenance and potential future assessment potential with the flood remediation.
All that being said, the price may still be compelling. Less than $700k for a good size one bedroom in Manhattan has to be attractive to some.
The building is not having assessments. Insurance is picking up the cost.
What's going on with StreetEasy? I've received postcards from brokers that announce they have sold apartments 8L and 6G . StreetEasy has them marked "no longer available". Apt. 7A is listed as "in contract" while under PAST SALES it's listed as closed on 9/17/15.
Still don't understand what's going on with StreetEasy. ACRIS shows that 8L sold for 948K (estate sale) and 6G sold for 765K. They are both listed as "off the market". StreetEasy lists 7A , dated 9/28, "off the market" but has a second entry marked 600K closing as of 9/17.
201 w 89 st, 2D is listed "in contract". The sales page shows it as sold for 651K as of 9/3.
@jelj13
Building looks to be of good value . let us know what you end up doing there
Looks as if SE's routine that matches closings to listings has broken or hasn't been run.
Look at http://streeteasy.com/closings/manhattan/type:coop%7Crecorded%3C30. A skyline graphic indicates a closing that hasn't been matched to a listing.
Oops, should be http://streeteasy.com/closings/manhattan/type:coop%7Crecorded%3C30?sort_by=date_desc
and "A skyline graphic indicates a closing that hasn't been matched to a listing."
Can't paste SE's own URLs. Go look at recorded sales for the last month. A skyline graphic indicates a closing that hasn't been matched to a listing.
Auto-matching seems to work if a listing's previous status was "In contract", but not if it was "No longer available." So SE remains worth what we pay for it.
https://urbandigs.com/ -- Type in your address in Building Closed Sales and scroll down to past sales table. Cant post the building url in this forum anymore, the url will be blocked
SE used to report this info accurately. URBANDIGS.COM seems to do a better job now.