Powerhouse Condo Not Selling Well!! Financial Difficulties Arise

I've been to LIC twice in my whole life.
This is by far the stupidest thread in all of streeteasy.

Why i'm calling all the bashers FUCKING MORONS because....THEY ARE!!!!

THEY ARE FUCKING MORONS.

Nivlac,

POOR MORON...so the tennis courts are going away...why not run home and cry to your mother.
BOO BOO...

you've been to LIC twice and you're devoting this kind of emotion to this thread? right. i guess you fell in love with the PH and signed a contract on first sight?

you really need to go back to the beginning and read the entire thread, because there are plenty more you've missed in your FUCKING MORON rant. which isn't very clever, but if you're going to have a one-size fits all insult you might as well apply it liberally.

And what about you?
You haven't EVEN BEEN THERE and you wrote 2 paragraphs worth of mumble jumble??

You ARE even a BIGGER FUCKING MORON.

No, i have been there. I went to the Home Depot years ago. It was depressing at the time, but i've heard it's improved. And I was writing about emerging markets. Do you think Robert Shiller has visited all 20 cities? Real estate economics allows one to make some general comments.

You don't seem to be having fun. Maybe a time out for some yoga might do you a world of good? Some herbal tea? Why don't you make a date with Jerkico and CarolSt to meet in the neighborhood at one of the new fabulous hotspots to discuss what FUCKING MORONS all the rest of us are?

aboutready...are you kidding me? home depot is nowhere near hunter's point, which is where this building is. you really are a moron. have you even gone to the area where the ph is? don't talk until you've done your research.

I had to drive through LIC to get there. and i don't need to do much research. it's all laid out right here. that with a knowledge of what happens to emerging markets, and what happens when condo developers start renting out large blocks of units with credit conditions such as they are, well, that's all i need to know.

moron, now where have i heard such a clever insult before? borrowing from the master?

I just looked up Home Depot on Google map and unless you are truly a MORON, there's no reason for you to drive by Hunter's Point area to get to Home Depot. So, it's true...YOU ARE A FUCKING MORON.

i dont even care about PH anymore, but this is soooo reminiscent of CarolSt's meltdown about a month ago, it's hilarious. infamous = carolst = broker.

What meltdown?
Mjay61, YOU ARE A FUCKING MORON.

"i dont even care about PH anymore,"

Then why are you here?
Why did you make negative post about LIC?

ha!

Infamy gets the all time award for adding quality to this discourse--the intelligence of his posts is telling

the emotion reeks of his being long and wrong....quite wrong in fact....we feel your pain infamy

"POOR MORON...so the tennis courts are going away...why not run home and cry to your mother.
BOO BOO..."

I never once complained about the lack of tennis courts. Your grasp of reality is getting more and more tenuous even as your capacity for stubborn denial grows to astounding proportions. 600 posts and the solitary problem with the Powerhouse LIC condo development is the loss of tennis courts - keep on believing that is what this is all about. And countering your inept propoganda is not "bashing" ... it is simply setting the record strait.

Now, may we please be treated to another conniption? - they such great fun and most amusing to us all.

hahaha, this is sooo good.

dont you know that going completely postal on an internet message board cannot be good for PH.

but do continue, this is entertaining.

Ubottom, Nivlac, Mjay61,

All FUCKING MORONS.
Here's why.

You don't live in LIC.
You don't own properties in PH.
BUT YET..you guys/girls are here every day bashing the area and building.

FUCKING MORONS!!!!

"solitary problem with the Powerhouse LIC condo development is the loss of tennis courts "

I don't know PH..but the problems have been debunked by residents there.
YOU DON'T EVEN LIVE THERE YOU FUCKING MORON!

just shut the fuck up already.

"dont you know that going completely postal on an internet message board cannot be good for PH."

LOL
You think a message board will prevent people from buying in PH?
YOU ARE EVEN A BIGGER MORON.

Besides, i don't even live in LIC!!

Excuse me but, as I have said before, I do live there.

no you don't..

prove it.

where do you live?
what's your name?

So you're here crying about the tennis courts going away..

BOOOOO WHOOOOOO.....

Cry baby.

Nivlac,

You are a FUCKING IDIOT.

What do you get for bashing the PH and LIC anyways?

Every day you and your people come on this thread and talk the same load of crap.
WHO THE HELL CARES?

What are you trying to get?

I have nothing to gain myself.
I enjoy calling people MORONS and IDIOTS.

Ah, yes. Of course, how silly of me. Hunters Point IS LIC, none of the rest matters. We'll just live in our perfect little enclave, without the tennis courts and with public housing blocking our million dollar views, and ignore the surroundings.

prove you have a brain. do it, now. prove it. what's the name of your brain? where does it live? on CarolSt?

You are a liar Aboutready.

I missed buying at the bottom because of your dumb views about NYC housing.
Thanks to you and your idiot buddies here.

well, i'm not sure about your police work there, infamous.

personal culpability. look it up. find it. embrace it.

i'm many things, but dishonest is not one of them.

this is another meltdown, but at least it's not as sad as the guy who blamed me (us) for losing his job.

You are a liar Aboutready.
Tell me how you save hundreds of thousands of dollars by renting.

"this is another meltdown, but at least it's not as sad as the guy who blamed me (us) for losing his job."

What meltdown?
You are a fucking moron.

We are in an internet message board. As this thread has taught is, truth doesn't matter.

Well, the math might be a bit tough for you to grasp, so i'll just say that I pay about $4000 now for a renovated, nice 1200sf, 2/2. And in 2004 when I moved in I paid $2750. So with a handy calculator you could have some fun with numbers!!

MELTDOWN ALERT. MELTDOWN ALERT.

And you never answered, where does your brain live? Never mind, I know the answer.

A person who has been renting for years in Peter Cooper Village and has never been to Hunters Point is here making judgments about owning in the area. Wow.

"Well, the math might be a bit tough for you to grasp, so i'll just say that I pay about $4000 now for a renovated, nice 1200sf, 2/2. And in 2004 when I moved in I paid $2750. So with a handy calculator you could have some fun with numbers!!"

You are a liar.

Let's assume you averaged about 3,500 over the past 5 years for rent. Over the course of the 5 years, you paid $210,000. This 2/2 could had been purchased for around 800K back in 2004. This same 2/2 is probably around 800K today.

Tell me, how the HELL did you save HUNDREDS OF THOUSANDS OF DOLLARS?

"And you never answered, where does your brain live? Never mind, I know the answer."

I live in a 1 bedroom rental in Upper West Side.

I bought a 2/2 for $800k in 2001. not as nice as my current unit. was paying $5600 monthly. $2750 v. $5600 plus all that delicious money i got when i sold.

but don't worry your little head about me. i, unlike some people i could mention, am quite happy with my rent/purchase decisions.

personal culpability. find it. embrace it. don't blame others for your ills. self-help 101.

LIC, i'm getting really tired of your inability to read. i've never made a single judgment about Hunters Point. i've talked about emerging markets, real estate trends, and have freely admitted i've never been to Hunters Point.

if you really wish to throw your hat in with this lunatic, feel free, but it doesn't reflect well.

congrats AR! that was a sweet move. did you have trouble convincing the rest of the family to follow suit? i've seen that playing a lot. one once to time it while the other embraces the status quo.

"one wants to time it while the other embraces the status quo."

"I bought a 2/2 for $800k in 2001. not as nice as my current unit. was paying $5600 monthly. $2750 v. $5600 plus all that delicious money i got when i sold."

Again..but you sold it in 2004?
So, again, how did you save hundreds of thousands of dollars since 2004?????

YOU ARE A LIAR.

"i've talked about emerging markets, real estate trends, and have freely admitted i've never been to Hunters Point."

Then why are you here?

funny, i could ask you that as well, mr. i've been to LIC twice.

i'm interested in emerging markets, and their affect on larger, long-term real estate trends. your excuse?

You still haven't show us how you SAVED HUNDREDS OF THOUSANDS OF DOLLARS BY RENTING SINCE 2004.

YOU ARE A LIAR.

I'm looking to purchase a place in WB, but prices were simply out of our reach.
No, i'm not 'wishfully' rich like you.

And NO...i did not SAVE HUNDREDS OF THOUSANDS OF DOLLARS BY RENTING a 800K 2/2 for 5 years.

Does anyone have any actual data that "emerging" NYC neighborhoods have fared worse than established ones in prior downturns? Tribeca seems to have done pretty well coming out of the last downturn.

Meaning in the mid-90s.

I never said hundreds of thousands of dollars. your words, idiot. although if tishman has to pay me treble damages for illegally destabilizing the unit, it probably will total well over a hundred thousand dollars.

and why would i pay anything more for the same apartment? including transaction costs. really.

piss off. you bore me.

"No, i'm not 'wishfully' rich like you."

hey, AR is not a worse offender there and i believe that she did save herself some serious bucks. by securing her paper profits and renting for (still as of today possibly) less than carrying costs of a similar home.

we have extreme cases in this blog of "wishfully" rich, wonderbra for ex, is just irritatingly funny. i wish that sub-species (dreaming of being rich while ridiculing the poor) would go extinct in this country. as i see it they were almost taking over at the peak of the bubble.

LIC, Tribeca had a number of unusual factors going for it. including huge governmental support, no public housing, top-notch schools created for the growing affluent population, an established artists' community. downtown, west side, was rudy's pet project, and post 9/11 it received huge infusions, both in terms of cash and incentives. also it is in Manhattan with great access to transportation.

"I never said hundreds of thousands of dollars."

Oh..if i find the post, would you piss off then?

admin, yes i am still renting. i may never stop renting. i don't see the advantage in tying myself to a property that may decline in value, may be difficult to sell, etc. i couldn't own for less, i like my apartment, and i've spent some money turning it into a home, so i'm content living small by some people's standards, which of course would be considered living large by other people's standards. ironic.

Many people have a grand old time scorning PCV, and i am not that fond of the location, myself. but it's close to my favorite neighborhoods and convenient to my daughter's school, the grounds are lovely even in their unkempt state, and for my apartment at least the price is decent. and unlike Tishman, i haven't made the mistake of buying an overpriced property.

"I personally love thin walls; there is nothing like the slow soft (or loud, depending on the building) sounds of your neighbors making love within 6.25 feet of you- you learn things; you experience their passion; you participate in your own way. ... I think I may have just come up with a marking scheme!"

Funny, but no joke at the powerhouse

ar, let's compare your factors to Hunters Point:

huge government support - check
no public housing - housing projects are as close to Tribeca as they are to Hunters Point - check
top-notch schools created for the growing affluent population - check
an established artists community - check
great access to transportation - check

Sounds like you are bullish on LIC . . .

"no public housing - housing projects are as close to Tribeca as they are to Hunters Point - check"

I love the denial that never relents. First it was that public housing in front of the powerhouse the "probably will never be built." Then it was going to take "years" to be built. Now that construction is starting directly in front of the PH, it is simply not "public housing" at all despite the fact that the mayor calls it "public housing" and "the largest affordable housing development in New York City since 1974" and a response to the "10-year waiting list for public housing" in the city. Maybe now it is undeniably "public housing" after all, it is city land and the city calls all the shots -but it is simply not a "PROJECT?" OK.

We've polled all the flat-earthers and came up with the TOP TEN monikers that will be used henceforth for the view-blocking public housing project. This is mandatory terminology for all brokers and long-and-wrong powerhouse residents:

10. the public housing undertaking,
9. the public housing adventure,
8. the public housing affair,
7. the public housing venture,
6. the public housing concern,
5.. the public housing deal,
4. the public housing enterprise,
3. the public housing exploit,
2. the public housing mall,
and
the number one approved terminology for the public housing project -- the PUBLIC HOUSING THEME PARK!

IVAR, YOU ARE A FUCKING MORON!
SERIOUSLY...YOU SHOULD STOP THE FUCK NOW!

So the owner of the tennis courts are taking down the bubble...big deal.
If your rent is up, do you leave your belongs too??? YOU FUCKING MORON!!!

"flat-eathers" HAHAHAHAAHAHAAHHAHHAHHAAAAHAHAHHHHAH that's fucking hilarious!

So the owner of the tennis courts are taking down the bubble...big deal.
If your rent is up, do you leave your belongs too

Deny deny deny. The "owners" are not owners - it is the city's land. They had no fixed term lease. As has been widely reported in the press, the courts had to stop operation because the city is "ready to put a shovel in the ground."

To refresh, this was in the Post on June 19 -

"For Tennisport -- one of the city's best-known public recreation facilities -- it's game, set, match.

After 33 years in Hunters Point, Queens, the center that has hosted celebs and tennis stars will be shutting its doors July 31 as the city begins work on a massive housing complex overlooking the East River.

"We'd love to stay another year, but the city is telling us they're ready to put a shovel in the ground," said Andrea Botur, whose father, Freddie, built the club on the site of an old dump in an abandoned section of waterfront.

For three decades, the club has been a labor of love for the family.

The 16 red-clay indoor courts and eight remaining Har-Tru outdoor courts have played host to Tom Brokaw, Robert Redford, Sean Connery and Liam Neeson, among others.

John McEnroe liked the place so much, he built his own court there.

For the past 20 years, the Boturs have known match point was near.

First, the state had eyed it as part of its enormous Queens West development. In 2002, the state forced the family to sell the property through eminent domain.

The Boturs negotiated several two-year extensions while development plans went bust.

Finally, the city bought the property from the state in 2006.

City officials said they would begin work preparing the land, which has little infrastructure, by the end of the year."

ivar, you need to stop making a fool of yourself. This is not public housing. Learn how to read. The city owns the land under the Queens West buildings. Is that public housing? The State owns the land under all of Battery Park City. Is that public housing? You really are dense.

Also, the city is leveling the ground and developing the infrastructure. The timing for when a building actually starts going up is undetermined.

Ivar you fucking asshole. Stop being a fucking moron.
Are you that fucking stupid?

The bubble belongs to the owners of the tennis courts. They will take it down and pack it with them. Why on earth would they leave the bubble there? Think you dumb as mother fucker.

FOR CRYING OUT LOUD...THINK YOU DUMB ASS MOTHER FUCKER.

Wow, InFamous--Ivar seems to really know how to push your buttons. That last post makes you sound like that whacky Obama birth certificate group lady who melted down on CNN yesterday.

Deny deny deny - I guess that know-nothing Mike Bloomberg along with the city counsil didn't get the memo that went to brokers and long-and-wrong powerhouse residents.

I apparently overlooked the fact that the flat-earthers have a new denial. While admittedly construction is beginning, it is only the work on the "infrastructure" that is beginning and, after that is done, the project - I mean the (insert air quotes here) theme park - will not be built or will not be built for years and years. Nothing in the way of the powerhouse view other than a hole in the ground. Got it.

Kylewest & Ivar,
You can both go to hell you dumb ass mother fuckers.

infamous is sounding a lot like carolst. find a new internet cafe? how's the library?

bingo ar.. carol, pls honey keep the dirty language for bed where it belongs....

ivar, why don't you just call them apartment buildings? Of course that would be too intelligent for you to handle. Do you call all the apartment buildings in Battery Park City "projects" too?

Aboutready,

Shut the FUCK UP already.

w67thStreet,
Shut the fuck up you dumb ass (.....) mother fucker.

holy mother, it is carolst. congrats sweetie, took you much longer to self-implode this time. work slow? nobody wants you to show them around brooklyn?

this makes much more sense now.

Read it in the NYTimes:

"There is little doubt that the cost of the project has climbed since 2006, when Mayor Bloomberg first announced a plan to build up to 5,000 units, all subsidized for middle-class families. The current budget is $222 million, up from the initial estimate of $146 million to acquire the land and build the streets, parks and schools. In an effort to cut costs, the city decided that only 60 percent of the units would be set aside for moderate- and middle-income families and that the rest would be market rate. The city is also rezoning an adjacent parcel for up to 1,650 units, a fifth of them low- and moderate-income."

Read carefully - not just the concept of "city owned," but also "subsidized" and "low- and moderate-income."

Why don't I just call them apartment buildings? I thought we had agreed on theme park. City subsidized low- and moderate-income apartments buildings doesn't have the same marketing cache as theme park.

a subsidized housing project--it will consist of residential buildings in which those who can't afford open market housing can live thanks to ongoing gov't subsidy--hell ph is filling with renters anyway...what's wrong with subsidized renters across the street?

this used to be debunking of the greater fool garbage infamy/licc/carolst spews--now it's downright entertaining

it's black humor cuz clearly something has gone very badly for infamy/licc/carolst as relates to ph

maybe a brilliantly conceived flip that aint flippin

why do all the views shown on the ph sales website show the manhattan skyline?

now....go totally ballistic...im on the edge of my seat...come on...let it out...bring it

Hi Carol, as part of your "licensing" don't you need to "out" yourself? You know you could lose your career......

i would just like to add that this thread is the reality television of streeteasy.. i know its making me dumber but i can't turn away

"holy mother, it is carolst."

Holy you Mother Aboutready.

"i would just like to add that this thread is the reality television of streeteasy.. i know its making me dumber but i can't turn away"

America.

iVar = Ubottom

Moron + Moron = Moron(s)

One can always ignore the useless comments by particular individuals here, but is there some point that Streeteasy should intervene? For example, someone like Infamous who is only name calling with no other comments?

Ivar = Ubottom = Mike77 = Bean = Chimpwolf

Why is it that these posters don't post anywhere else beside this thread.

Infamous = Dr. Orly Taitz? Watch this and tell me they don't sound EXACTLY alike! Now maybe people will listen when I say it is no coincidence InFamous and Taitz are never in the same room at the same time. They are the same person! OMG!
http://www.youtube.com/watch?v=bMUaca8wP9w

i do post elsewhere...but this one's my favorite cuz of your meltdowns

now about the manhattan skyline views featured throughout the ph sales website...wutupwitdat?

gettin dusty over there yet? stock up on ac filters now!!

LICC - you keep point to BPC, but how is that an apt comparable?

Were 60% of the units there set aside for low to moderate income families?

I sort of respect what you have to say at times, and you're spirited in your defense of LIC, but you're really grasping at straws with this comparison.

No, mjay - you are right, not comparable in the slightest. Just more denial, hype, and misnformation.

Separately, the comments of InFamous are relevant and should be highlighted because they represent the culmination, the alpha and omega, of any defense of this misbegotten fatally flawed project. Once the spinning hype misinformation is exposed and undermined, his reaction is all the defenders have.

I was informed by a few owners of PH to not post on this thread because they think i was promoting the negativity. Well, it's been over a week since my last post and this thread continues to get bump to the top every morning with dumb and misinformed comments. I'm glad i stayed out of this mess...

Again, i don't understand why all of you have to gain by being here and hammering this building?
The propaganda is blatantly obvious.

mjay, are you serious? ivar was calling this public housing because the city owns the land. The state owns the land in BPC too, and that is not public housing. The Queens West site has State-owned land and Rockrose-owned buildings. In order to get concessions on the land, Rockrose agreed to set aside a percentage of apartments for low income. While it is a smaller percentage, how is that much different? And you wouldn't call Queens West "public housing". To characterize this as a public housing project is just being a hater.

Also, your statement is incorrect. 60% of this property is not going to be set aside for low to moderate income. It will be set aside for middle income residents. Not low income. Another parcel of property west of this site, and not city-owned, will be rezoned so that if a private developer chooses to increase the FAR, the developer will have to set aside 20% of the apartments in that parcel only, for low income. It is the developer's choice. That part of the plan is the last part to be developed, if it ever happens. I wouldn't expect those buildings to be built for 15-20 years, if ever, and when they are, at least 80% of the units will be market rate.

More lies and denial. That was not my position at all - read carefully - not just the concept of "city owned," but also "subsidized" and "low- and moderate-income."

Quote from the NYTimes:

"There is little doubt that the cost of the project has climbed since 2006, when Mayor Bloomberg first announced a plan to build up to 5,000 units, all subsidized for middle-class families. The current budget is $222 million, up from the initial estimate of $146 million to acquire the land and build the streets, parks and schools. In an effort to cut costs, the city decided that only 60 percent of the units would be set aside for moderate- and middle-income families and that the rest would be market rate. The city is also rezoning an adjacent parcel for up to 1,650 units, a fifth of them low- and moderate-income."

At at bottom, as has been stated, the project consists of residential buildings in which those who can't afford open market housing can live there thanks to ongoing government subsidy - the classic definition of public housing.

But you win, we will call it a theme park instead.

hi licc..this "retarded idiot moron" wants to know why all views shown in the ph sales website are of the manhattan skyline.

i mean, you have agreed that there will ultimately be no view of the manhattan skyline from anywhere within the ph.

Ubottom, I never called anyone retarded, an idiot or a moron.
I don't live in ph and I'm no big defender of it, but I think the website focuses on views from the common rooftop. Those are the current views. Anyone who thinks of buying there should know that the property directly west of the building will be developed and the views will change. People shouldn't be buying there expecting long-term direct skyline views. However, I doubt that "there will ultimately be no view of the manhattan skyline from anywhere within ph." There will still be corridors of views even after the other apartments are built, and from the height of the roofdeck, you probably will see over some of the new apartments to get a good view of the skyline. I really don't know what it will be like, but your point is fairly meaningless.

Interesting marketing concept: is it now totally legitimate for any building with a view from the roof to proclaim "legendary views" in its advertising. (In fact, the roof view from the Powerhouse will also be at least partially obstructed - southern views busted in additon to western.)

I guess the following would not work very well: "Legendary Corrider of Views from the Rooftop through the Public Housing Theme Park."

actually all of the pictures on the site of individual apts, where one looks through the pictured apt and out the window, feature that beautiful manhattan skyline looming

euphemisms galore -BRILLIANT!

"We've polled all the flat-earthers and came up with the TOP TEN monikers that will be used henceforth for the view-blocking public housing project. This is mandatory terminology for all brokers and long-and-wrong powerhouse residents:

10. the public housing undertaking,
9. the public housing adventure,
8. the public housing affair,
7. the public housing venture,
6. the public housing concern,
5.. the public housing deal,
4. the public housing enterprise,
3. the public housing exploit,
2. the public housing mall,
and
the number one approved terminology for the public housing project -- the PUBLIC HOUSING THEME PARK!

It is NOT a public housing theme park, dammit!
It's a municipally bankrolled habitation theme park.

The Dayz of Our StreetEasy continues....

Watch next week as.....

CarolSt, admits she's a man!
InFamous admits he's a she!
LICComment sells his PH unit!
Bloomberg starts giving away bus tickets to the "Public" housing being specifically built to block PH views of Manhattan!
and.... it is revealed the PH developer and the Public Housing developer is the ONE IN THE SAME and knew of the city Plans going in!

Always entertaining to observe what public officials say to housing advocacy groups on the one hand and NIMBYs on the other when it comes to Hunters Point South and projects like it.

Good stuff here
http://queenscrap.blogspot.com/2008/05/hunters-point-south-sucks.html

> But you win, we will call it a theme park instead.

LOL.

> Ubottom, I never called anyone retarded, an idiot or a moron.
-licc

Thats a lie

Prove it. Of course you can't.

Speaking of the Powerhouse LIC website and its "legendary views" that will be no more, there is also a section that talks about the building's "Illustrious History." It was a railroad powerstation, right? How cool is that? Yes, originally, it was a powerstation but for years afterward - and it was the last use of the building - it housed the Schwartz Chemical Company. That not-so-sexy part was written out of the illustrious history.

"Good stuff here
http://queenscrap.blogspot.com/2008/05/hunters-point-south-sucks.html

Holy cow! If the spinners have meltdowns over simple facts like the views blocked by the big public housing project, halted parking construction, the cheapest possible build quality for sound insulation, etc, wait until they get a load of the opinions about the Powerhouse on this site. Just use the interal seach engine to search for "powerhouse."

What did Schwartz Chemical Company make?

quality of the building aside, recent closings on Streeteasy show a few more apartments closing at $600/sq.ft. Anyone care to run with this?