building at 70 Charlton Street
Started by dawnfawn
about 8 years ago
Posts: 13
Member since: Feb 2012
Discussion about 70 Charlton Street in Hudson Square
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Well, Trinity Church reportedly owns 40% of the land in Hudson Square. West Soho? Is that what they are calling it now? Jeez!
Anything which is new construction and a Coop is going to be a land lease. And even though the Streat Easy page say it is a "CondOp", it can't be.
One more reason the term condop is a ridiculous term. Same with West Soho, Clinton and NoLita. Broker-speak needs a dictionary!
Condop usually means co-op and somebody else owns the commercial/parking space etc.
Dawnfawn, If you do consider buying here, spend a lot of time analyzing lease escalation clauses in the future and percentage rent on the land market value.