Boutique condo problems

Any one here have thoughts on 176 East 82nd street? 10 floor 9 unit building, part time doorman, no on site super, where the sponsor is promising purchasers that he will keep common charges to under $1,000/mo for the next ten years . I would be very wary, but a family member is contemplating purchasing at what looks like a steep discount from listed prices.

The issues run deep with Milonas.
https://www.google.com/amp/s/nypost.com/2017/06/12/socialite-wants-to-kick-out-rich-hubby-since-he-wont-die-suit/amp/

And I know too much dirt beyond public domain about the complicated marriage and adult daughters’ involvement in Spyros Milonas affairs. I have not seen a worse situation.

Any thoughts on the East 82nd street condo?

Besides the exterior being ugly and certainly will not stand the test of time, no other opinion. Some developers learnt nothing from Robert A.M. Stern’s success.

This was not an aesthetic question , but an economic question.

I know but aesthetics and economics are closely linked.

@300 - I know Claire and have great affection and respect for her; I hate seeing her life dissected in the tabloids on multiple levels between Orzag and family drama.

I respect that the daughters are trying to protect dad.

Re 176 East 82nd: Common Charges on unit 6 are currently $632/mo. if the CC go up 5%/year, the CC in year 10 will be ~$980/mo, so the sponsor's promise isn't completely unreasonable. That said, exactly how is the sponsor proposing that the CC will be kept low? Deferred maintenance? Income from the 1st floor commercial space? Is the sponsor willing to put the 'promise' into the sales contract and have it be binding on the condo association?

Those are are exactly some of the questions l’m asking myself, as well as how the gym and roof deck will be serviced with minimum staff . Don’t know if my family member has asked those questions

And I know that the sponsor must be pretty desperate as a VERY lowball offer was accepted on a high floor unit, which also is sort of concerning

Boutique condo is such a good idea in theory, but in practice? No thanks: https://streeteasy.com/talk/discussion/11009

this building sells for $10+M per unit, not in the scope of streeteasy discussion