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450 Washington

Started by 911turbo
about 1 year ago
Posts: 280
Member since: Oct 2011
Discussion about
I’m curious if any units have resold since this project was initially launched and if so, are sellers even getting close to what they originally paid for? The prices for new units seem crazy, I get it’s a good location, new building, lots of amenities but over $800k for a tiny studio and this isn’t even a condo? https://streeteasy.com/building/450-washington-street-new_york/1107?showcase=1
Response by Aaron2
about 1 year ago
Posts: 1693
Member since: Mar 2012

A quick browse of ACRIS records doesn't turn up any resales. I don't understand the prices either (tiny studios!: #403: 443 s.f.), and particularly given the land lease situation.

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Response by Rinette
about 1 year ago
Posts: 645
Member since: Dec 2016

what's the max in this building vs. others nearby with Hudson facing apartments / views?

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Response by MTH
about 1 year ago
Posts: 572
Member since: Apr 2012

A couple of those studios are in contract so it looks like it's an attractive proposition to some people. I can't imagine paying that in a land lease. Goes to show what they say about location.

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Response by 30yrs_RE_20_in_REO
about 1 year ago
Posts: 9876
Member since: Mar 2009

Almost a million dollars for a 9 and a half foot wide apartment.

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Response by Aaron2
about 1 year ago
Posts: 1693
Member since: Mar 2012

Perhaps not viewed as unusual when the 'local' newspaper is going on and on about $910 fleeces:

https://www.nytimes.com/2024/10/10/style/rier-fleece-luxury-pullovers.html

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Response by 30yrs_RE_20_in_REO
about 1 year ago
Posts: 9876
Member since: Mar 2009

"It's immoral to let a sucker keep his money."
Canada Bill Jones

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Response by steve123
about 1 year ago
Posts: 895
Member since: Feb 2009

That article reads more like something that belongs in FT HTSI.

I'm not sure what to make of the modern era NYT. Trying to be all things to all people I guess.

Some mix of centrist objective news coverage, heavy team blue cheer leading, random agitprop op-eds to try to show both sides..

Then tons of social justice coverage juxtaposed with top-1% culture. This part to me feels the most out of touch.

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Response by MTH
about 1 year ago
Posts: 572
Member since: Apr 2012
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Response by 30yrs_RE_20_in_REO
about 1 year ago
Posts: 9876
Member since: Mar 2009

On the commercial side it's been used for a while and well accepted. On the residential side it's largely a shrug.

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Response by stache
about 1 year ago
Posts: 1292
Member since: Jun 2017

MTH, at least ten years, maybe more. Used to be the printing district when we had that industry.

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about 1 year ago
Posts: 1
Member since: Nov 2016

The building, 450 Washington, was a rental building converted to condo. It's a land lease building hasn't traded as competitively like prime West Village or Tribeca.

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