425 East 13th Street resale

There are some very good reasons to avoid this building (or at least be very cautious). For starters, there are nightmare stories about new buyers with endless punch lists and ultimately very troubled apartments, though you'll be in much better shape not buying pre-construction and being able to bring in an inspector. Check out this thread here on StreetEasy, particularly the 2nd page when people start discussing their walk-throughs:

http://www.streeteasy.com/nyc/talk/discussion/1457-425-east-13th-street-a-building

Then there's this interview with the developer. Read the comments at the bottom, where there's mention of numerous lawsuits from buyers in the A Building:

http://www.observer.com/2008/boy-developer-ben-shaoul-wants-live-forever

Also, a unit in the E line of the building recently saw it's asking price (from the sponsor) drop 15%, hurting previous buyers in the line. The details are on the 2nd page of this thread:

http://www.streeteasy.com/nyc/talk/discussion/3339-if-you-can-demonstrate-market-movement-with-comps-please-post-here

From what I can tell, none of the other lines have suffered similarly, but it's certainly a bad sign, and I would do some thorough research on price trends in the building. Not sure how new you are to StreetEasy, but for $10/mo the Insider feature gives you access to the last 4 years of sales prices.

Lastly, opinions here vary, but I don't think that 4-5 years is a long enough timeline for a new construction purchase.

With regards to my timeline statement, I just remembered you said resale, so you won't take the full 5-6% hit in transaction costs. But don't let the seller roll them into the resale price. I'm bearish in general, and have seen prices come down in the EV (I live here), but this building is particularly risky.

evilliagebuyer, i have been to see this building several times in the last few years to see its progression. it is a piece of crap and i am glad i did not buy here. it belongs in the hudson and not the evillage. building management has had to recently institute numerouns controls to ensure the owners behave. seriously think hard before you buy here.

in addition prepared to get screwed when buying a washer/dryer. i believe only two types fit and one of them fits costs about 3k

The A Building is not a place to buy for long term.
4-5 years you should be ok but be sure to look at carrying charges for option to resell and move on.
Think about what your buying if you plan on reselling.
Vic Parise

I live in the building. Its chic and having that rooftop pool is like living at the Soho House. The building is young, hip and very few families or kids.

Like any new construction, there are punchlist issues to deal with but the developer will fix everything on the list. And if you're purchasing from a resale, the original owner already paid the closing and 4% transfer taxes and presumably has dealt with the punch list.

I also live in The A Building and could not be happier with my unit, the building itself, the amenties, my new neighbors and the location. While dealing with the dreaded punch list was no picnic, this is the unfortunate norm for new construction and my situation pales in comparison to the experience that most of my friends have had in other buildings around the city.

From basement storage to rooftop pool, it's a great place to live. And yes...I paid $2200 for my washer/dryer. If that's too steep, you probably shouldn't be looking at Manhattan real estate.

hello eastvillagebuyer,

i think you should take some advice from people that live in the building like myself! it's a beautiful building with really high end appliances, materials, and designs. of course as with every single pre-construction, (just like starting a business for example) there are some struggles you must go through to complete the project and get the ball rolling. what we are experiences is the "behind the scenes" of buying a brand new place. this is very common in new buildings and everything gets resolved and completed within the first year. after that.....you're on cruise control.

so, if you'd like to live in the lap of luxury.......enjoy a beautiful and spacious rooftop pool and bbq which really does feel like the soho house.......have a spacious and new gym in the building, doorman, and most fun, hip, cool, and affluent neighbors........all while enjoying a brand new apartment with high end appliances like a $14,000 refrigerator.......then, feel free to join us.

if you want to listen to the unexperienced who wish they could live in a building of this calibre.......suit yourself.

also, keep in mind there is a reason why there aren't many resales....we're all enjoying our beautiful homes!

best of luck!

As one of the founding members of the Soho House, who now resides in the Abuilding let me clarify for the record that living here is

far superior than the Soho House. We couldn't be happier here.

I am very glad to read that thread since I purchased in 133 west 22 in Chelsea, with the same developper! This is really great news!

If there's a commenter I'd trust on this, it would have to be "abuidling" [sic].

Great to hear feedback of A Building owners. I went to check out that listing and saw the bldg! Its beautiful especially that rooftop pool! It feels like a resort. Anyways I'm seriously considering it.