77 Greenwich

Seriously considering an offer on a unit in 77 Greenwich.

I see some DOB violations that are still active. Is this something to worry about please?

https://nyc.marketproof.com/building/manhattan/financial-district/77-greenwich-street-10006?tab=violations

I would appreciate any insights that the Experts here can provide.

Many thanks,
Bob

This building is across from the garage I believe. I live across the highway in Battery Park City, so I pass by the area frequently.
I don’t like the feel of the area, still kind of seedy.

@Bob maybe start by telling us what draws you to this building in particular?

I looked at a couple of apartments in this building. They have nice finishes, and I really liked the workmanship in both listed apartments. I have owned many rental units in other cities and have renovated numerous apartments; many that were torn down to the studs. Both of the units I looked at were top-notch. I also liked the fact that there's a garage within a minute's walk. The amenities looked good too.

What I am most concerned about is the financial viability of the sponsor, TPHS. If they did not have any financial issues, I would have made a full priced offer.

So, those were my thoughts... Any input from y'all???

Looks like you are in love. So your decision is not going to be so rationale. Location and structure (windows, light, ceiling height, construction defects) are the first thing to be evaluated outside of price if you are thinking rationally. If they don't check out, move on.

I just saw that the closings have started. You can always try to put min percentage closing in your contract to see if they will take it. Financial risk of the sponsor clearly reduces with more than 50% closed.