Morton Square

No and unlikely anytime soon.

http://www.youtube.com/watch?v=5HihKiPXE08

You tube video has been pulled- http://www.curbed.com/archives/2007/02/01/maybe_the_olsen_twins_knew_something_we_didnt.php

Any one heard about the buildings leak problem lately? Could it be because of the cold cold wind off the hudson river? The Meier's buildings had massive leaks too.

Does anyone have any information concerning the increase in taxes . There was a 421 abatement but it seems to have been recinded. Has this happened on other buildings that have 421 abatements.

where did you hear that the abatement had been rescinded for morton square?

i have a friend buying there and as far as he knows they are about 4 years into a 10 year abatement (abatement gets reduced every two years until zero abatement in year 10).

Sorry for the late response. I recently was told that the city reassesed the property and the taxes were increased.

So how is this classic luxury development from a few years ago doing?

All you who post about declines in the prime condo market, give us some specific recent anecdotes.

Well Dr. Zizmor (lol), excellent question

This really is a classic luxury development from earlier this decade, post September 11.

Look at the volume of listings today.

And, compare today's prices to the original prices if there is any question how strong the luxury real estate market has been.

A bunch of these have been knocked down in price recently, some of them appear to have realistic sellers, but some of them, especially the bulk by Elliman have huge markups from original.

The biggest markups are the ones by Darren Sukenik, and of course the one owned by the Olsen Twins. How much are they losing monthly in carrying costs?

Check this out:

1 Morton Square #PHAEAST
11/21/2007
Listed in StreetEasy by Stribling at $11,995,000
11/26/2007
Listed in StreetEasy by Corcoran for $11,995,000
03/18/2008
Price decreased to $10,995,000
05/17/2008
Price decreased to $10,495,000
09/09/2008
Price decreased to $9,995,000

1 Morton Sq #6LBEAST
08/08/2008
Listed in StreetEasy by Corcoran at $6,300,000
10/01/2008
Price decreased to $6,000,000

#4FW Listed by Elliman by Darren Sukenik
10/22/2004
Previous sale closed for $1,625,000
09/23/2008
Listed in StreetEasy by Elliman at $4,995,000

#12DE
12/13/2004
Previous sale closed for $2,125,000
06/16/2008
Listed in StreetEasy by Elliman at $2,995,000
10/25/2008
Price decreased to $2,895,000

#11CE
12/06/2004
Previous sale closed for $1,525,000
05/03/2008
Listed in StreetEasy by Elliman at $2,995,000
09/04/2008
Price decreased to $2,795,000

#7BE
11/05/2004
Previous sale closed for $1,550,000
07/29/2008
Listed in StreetEasy by Elliman at $2,595,000
10/15/2008
Price decreased to $2,495,000

#4BE by Elliman by Darren Sukenik
11/10/2004
Previous sale closed for $1,700,000
06/27/2008
Listed in StreetEasy by Elliman at $2,500,000
08/05/2008
Price decreased to $2,495,000

#2DW
11/17/2004
Previous sale closed for $2,100,000
05/09/2008
Listed in StreetEasy by Sotheby's at $2,800,000
10/17/2008
Price decreased to $2,495,000

#2AE by Elliman by Darren Sukenik
10/17/2008
Listed in StreetEasy by Elliman at $2,495,000

#5CW
10/28/2004
Previous sale closed for $1,825,000
01/24/2008
Previously listed in StreetEasy by Elliman for $2,995,000
07/24/2008
Elliman listing unavailable at $2,995,000
10/14/2008
Listed in StreetEasy by Sotheby's at $2,395,000

#3CE
10/05/2004
Previous sale closed for $1,350,000
06/06/2008
Listed in StreetEasy by Elliman at $2,350,000
07/22/2008
Price decreased to $2,295,000

#2EW by Elliman by Darren Sukenik
10/12/2004
Previous sale closed for $1,675,000
07/11/2008
Listed in StreetEasy by Elliman at $2,535,000
09/25/2008
Price decreased to $2,250,000

#2BW
11/08/2004
Previous sale closed for $975,000
04/24/2008
Listed in StreetEasy by Elliman at $1,999,000
06/27/2008
Price decreased to $1,925,000
08/05/2008
Price decreased to $1,895,000

#7AWEST
09/25/2008
Listed in StreetEasy by Corcoran at $1,735,000

I'm a renter.

Been itching to be a buyer.

But I'm not stupid, and the market - both RE and stock - has given me pause. Long pause.

But when I see these numbers, 2004 vs 2008, I'm out. 100% out. Renting (though preferably in a condo!)

2001 prices are on the way. March.

This building wasn't built in 2001

how's everyone's favorite broker Darren Sukenik doing at 1 Morton?

yeah. he has such a snakeoil slimeball picture. looks like el doucherino maximo

Speaking of the slimeball - he can't even honestly represent his apartment (5EW):

$1,995,000 1 Morton Square #5EW 2 beds 1,600 ft²

$1,850,000 1 Morton Square #2EW 2 beds 1,476 ft²

How can one apartment in the E-line be 1476 sq ft while the other is 1600 sq ft? Rounding error?

why are listing prices dropping so dramatically? what's going on with this building?

The Olsen twins aren't virgins anymore?

Why is 14BE still not sold? It seems to be priced well. The only problems I see are that it has a small living area and the possibility of loosing the southern views... Are there plans to build on Leroy?