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building at 718 Broadway

Started by bnice72
almost 12 years ago
Posts: 7
Member since: Jan 2010
Discussion about 718 Broadway in Noho
Anyone know why so many units have been/ are for sale in this building relative to others downtown? Thanks
Response by towsen
almost 12 years ago
Posts: 0
Member since: May 2012

I live here. I think people are just cashing in after holding back for many years. Building's financials and physical plant are strong. Four units that went on the market since your query went into contract almost immediately. Maintenance is on the high side ($2K to $2.2K), but about 75% of that is deductible. NYU's growth probably favors building — no matter how we may feel about it personally!

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