closing & tco delays

Started by pinkpanther

over 6 years ago

Posts: 13

Member since: Sep 2009

Discussion about 200 East 21st Street in Gramercy Park

Is anyone else concerned and annoyed by the continuous delays in construction and TCO securement at 200 E 21st? Curious if you also received your 30-day closing date only to have it pass without any credible update/estimate on when the actual closing will take place. In my opinion, if the sales team and attorneys would take a proactive approach at communicating delays and the reasons for such delays it would go a long way at mitigating the buyer’s frustration.

Response by niksffut

over 6 years ago

Posts: 1

Member since: Jan 2017

Looks like it's real close getting tco according to the dob website. In my view, if your drop-dead date is near and if the building failed to secure tco yet, it's pretty powerful opportunity to re-negotiate with the sponsor. In this market, the last thing they want is to lose a signed contract. However once they get tco, all negotiability disappears and you must close. I walk by everyday and it is a great addition to the neighborhood.

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closing & tco delays

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