Vere

one is being rented for 1900 which is absurd for that area. They will be lucky to get 1500

Yeah, 1895 is way too much. But I bet they can maybe get about $1650-1750.

for 1900

Id get a studio in midtown MANHATTAN!

$2100 monthly with first month free = 1925

why on earth would anyone pay that much in that area?

Maybe for 1400-1500....

$4000 for 2bed....

4 letters to describe

"ROFL"

thats rich for LIC. The studios on the water are going for 1470 and they have pools

The averidge price of a unit at Vere that closed so far is just under $400K studios and 1 bedrooms. But how many people would actually pay over $600K to be on Jackson Ave...WOuld a young family buy there. I cant imagine any strollers rolling down Jackson lol...

I am refering to 2 bedrooms units that are in the $600k range and up

more practical pricing in this location would be

studio - 550-600
1b - 450-550
2b - 400-500

nice finishes DO NOT justify high prices in this location period! unless there is massive development plans that I don't know of.

current prices could have been justifiable in 2006-2007 in rising market. but not today.

I have to agree with Jam. It's a nice looking building, but that's not a great location. If you're really looking in LIC, there are three new buildings coming to the waterfront area - Solarium, 10-17 Jackson, and Murano. Solarium is the only one open for sales at this point, but they are offering some studios that I think are comparable to Vere. Much better location.

Are they still palnning to go ahead w Morano and 10-17 Jackson?

Construction continues at both the Murano and 10-17, with 10-17 looking pretty close to done. There is no word as to when sales will start and if they will even be going condo at all. The developer at 10-17 was seeming to take a wait-and-see attitude, so who knows. A sales center seems to be set up on site at the Murano, but it looks like it will be awhile for that one to finish. Although, the lobby is finished, so maybe they could start sales and move people in while still finishing the upper floors.

I like Murano the building, but not that location. I haven't seen any finishes or fixtures for it, but it looks nice from the outside. The glassy outside reminds me of Vere, actually.

10-17 is really sharp looking, but don't think they have studios. And like mwade said, the developers haven't announced what they plan to do yet, either rental or condo. I'm betting rental though, in this market.

And I really don't like the Solarium. Right next to what is in my mind an abandoned building that has a massive pigeon problem. There are also issues with vermin there, including raccoons! And their studios have weird layouts, IMO.

I also really like the rooftop deck/grill at the Vere. And the 3 sided glass walls of the gym are nice too.

One bad thing about the Vere is that there is a 24-hour gas station across the street *and* 3 bus lines that stop there too. One bus line stopping there I could deal with, but THREE. That's a lot of squeaky breaking.

Oh, does anyone know if Vere are covering closing costs?

it depends on how much you pay for the unit.

if you pay more for the unit, they will provide particial closing.

if you pay less for the unit, they will not provide any.

in the end..... you pay same price if not more

that is IF you negociate with them for closing cost...

I just checked out the Solarium website and the asking price for studios there are 439k!! They're bigger (549sq/ft) studios than the Vere's (479sq/ft), but still. Wow. I now kind of like the Solarium studios layout after re-looking at them.

That's way too much to be paying in this market even if the Solarium has a better location. Remember, that's just the ask. They won't come down much in the beginning I would imagine, but if you are willing to wait they may be willing to come down to reality. Also, the CC's are very low there what what I saw. The building next door, while unsightly, is not a real problem. I live on the other side of it and since Solarium took down their construction fence, the block is much better. That building won't be there forever, either.

I heard they were converting that old building with all the pigeons, so it may sort of still look like that, even if fixed up a bit. But who knows when that will happen.

Also, the building on the other side of the Solarium if new, but never occupied. And that is one ugly building. It's asymmetrical, but not in a good, artistic way. :)

Heard there is only one studio left in Vere now. Asking 409k. I say it'll go for 348k or so...someday.

How many 2 bedrooms are left? According to streeteasy they only sold 1..does anyone know?

http://nymag.com/realestate/realestatecolumn/64937/?mid=streeteasy

is VERE facing foreclosure? Anyone knows abt current pricing? Thanks for sharing.

Why would you ask if Vere was facing foreclosure dewyagi? Have you heard anything to that affect recently?

I thought they were doing ok does anyone know different that lives in the building?

they are not facing foreclosure. dewyagi is a troll.

3 months later and they are still askining 1900 for a studio! Like i said before they will be lucky to get 1500 in this area. Had they priced it there from the start they would have 4500$ more in there bank account right now. They really need to get the F$%&* Out of here priced like that

what happened, they took out most of the past sales record?

they are saying that they are 70% sold but they are closing at much less then the asking prices

they are sold out on the cheap units, and left with expensive 2bdrms with high maintenance. It would only get worse.

buyer11, do u think the it is/will be affected by the Robert Scarano case?

Anyone have any negotiation experience with the sponsor within this building? I'm interested, however not at the prices they are asking. I was hoping to get in around 15-20% less asking. Thanks in advance!

chodaddy311, based on my experience, I would say if u r buying one of the 2bds, 15-20% is possible.

Wow I can't believe people are paying this much for Vere.

Vere units are one of the nicest in LIC , but with that said, I agree, I could not live in that location.It should probably go for 550-600/sqft.

The bedrooms in the 1R units are way too small. I looked at a few and you can't even fit a queens sized bed in the bedroom let alone other furniture. I would not buy even at 15% below asking price.

Yes, all the 1bd are extremely small.

I can't believe the last remaining studio, 901, sold for $376,752!

The most recent closing 902, closed at $668 psf and this is in the least desirable location in all of LIC.

LIC isn't going anywhere fellas.

BUY.

is that a good price or bad price??

I would say that is a horrible price as a buyer... $668 psf for a blah studio.

902 isn't a studio though, 901 is.

You are right LIC_Queens I mixed the 2 units up, but the psf on the studio is even worse...

is this condo still selling?

I drove by there at night and would say there are lights on in only 1/3 of the building but I think more then half of the building is sold however I never see anyone walking in that area

The building is about 3/4 closed, and I'm sure there are more units in contract, but they sales agents still have a presence and their are still units for sale.

Not sure why you've never seen anyone walking in the area--perhaps it is due to the timing of your visits. These are not bustling blocks, but the residents here do occasionally leave the building and walk to the subway, etc.

Does anybody live at the Vere and care to share thoughts?

I am just suprised if it is 3/4 sold why there are not more lights at night or people walking around I am in that area 3 times a week at all different times and have not seen people walking or "living" in that area at all Id be curios to hear from people that actually live in the building how many owners bought to live vs investment properties

It looks like there are no streeteasy members with firsthand knowledge of the place. The building looks very nice and I am curious if any buyers have had problems with it.

CarolSt do you have any information? Care to chime in?

I live in the building. I really don't know what to say, buyer11. We are talking about around 30 units sold here on a block that has only one other residential building. You are just not going to see large groups of people loitering around a dead-end street. I see people out walking by every single day. Sometimes, when I step outside, I don't see anyone around. That's just how it goes. I know of only a few units that were bought for investment, and I know that there are renters in the building.

PPlayer, if you have specific questions let me know.

kickassmofo, I wanted to get the opinion of someone who lives there, especially an owner like yourself. If you drive a car, how parking is around there, if you've had any problems with the building, how you like living there, if you eat around the area (are there sufficient options) etc. Vere is the first building that we are considering in west LIC so we are trying to get an idea of what we are getting into.

*meant to say east LIC, not west.

PPlayer --

I drive a car, but only for pleasure, not a daily commute. Parking is ample at most times, but tighter during the day on weekdays, when all the Citi folks are in the neighborhood. If you don't mind parking a few blocks farther away it's not much of an issue.

As with any new construction, there have been assorted problems. Because there are still units for sale, the developer has been (relatively) responsive in fixing them, even when they weren't on our punch-list. Nothing major is outstanding, and the build quality still seems pretty good after almost a year living here.

We like living here. We don't mind walking down Jackson or down to Vernon for restaurants (most of them deliver here anyway). It's true that we are not directly next to restaurants, but taking a 10-15 minute stroll has not bothered us, in fact I rather enjoy it.

Access to the subway beats the hell out of the waterfront. We have super easy access to the E,R,G,M and are only a few blocks from the 7. I work downtown Manhattan and I'm routinely there within 25 minutes.

We moved in last November, and we frequently comment to each other how happy we are here. The location is certainly livable enough, and it can only get better. This Court Square area has a lot of potential, and things seem to be developing quickly, though I imagine it will be many years before all of these empty lots are developed, if that ever happens. On the whole, we were (and are) satisfied with the risk-reward ratio.

Kickassmofo, do you have an email I could contact you at? I wanted to ask you a question regarding the Vere.

trirriawsi@garrifulio.mailexpire.com

Have you used the rooftop deck and BBQ'ed out there? That was a huge selling point for me when I considered buying a studio there.

And is the gym staffed? And noise between apartments?

Thx kickassmofo, I think the Vere will do well in the coming years.

Have you used the rooftop deck and BBQ'ed out there? That was a huge selling point for me when I considered buying a studio there.

And is the gym staffed? And noise between apartments?

Thx kickassmofo, I think the Vere will do well in the coming years.

Looks like 401 is for re-sale. Wonder if it ever closed in the first place?

Lol goodluck to the seller on that price. I see a previous sale record of 312k in Dec 2009.

I now remember the sales people saying that one of the developer's or sponsor's relative was buying a studio. I wonder if 401 is that studio?

Just throwing that out there.

I wouldn't trust that sales guy. When I went for OH, he said he purchased a unit himself. Haven't seen his name on recorded sales.

Sales people say that a lot. In all developments in NYC. LIC, Williamsburg, Bushwick, etc.

Scumbags, every last one of them.

i'm looking at 401, sales guy said hes asking for $390k, but would go for $374k.

any suggestions other buildings (arris is too expensive, industry is very underwhelming) else I should look? not fond of paying $60k above what they paid just two years prior for their apartment

Wait a bit longer and that number will drop. That apt. isn't going anywhere.

Just read something about the building having leak issues and other stuff. Anyone hear anything about that?

Not sure about leaks but for #401, $315k not a penny more.

You may want to update your research on LIC neighborhood. Check out: http://www.nytimes.com/2011/02/06/realestate/06posting.html. Walking around the Court Sq/23rd St (Citi vicinity), you'd never know there's a recession. Besides, who the heck would want to LIVE in midtown Manhattan? Work, yes, but live?

#401 for $315k?

From my research, all the bldgs in LIC are going for more than they did back in 2008. The guy in #401 wants to move into the PH (i'm thinking the 1202 unit which was just taken off the market @~479k).

I didn't hear anything about leaks, i'm interested to hear about the "other stuff". where are you getting your info?

I've been to the building before. Its not the same as waterfront LIC. Just look at the previous sales of the same line studios in the building, not far from my price.

angray - i agree its best to compare to previous sales of the same line studios. #401 went for 312 on 12/09, the man put in a frosted glass pane or whatever it is at a cost of (according to him) $25k. based on sales data for the last two years, prices are going up. you can't offer $315k which is only 1% above his cost. At the very most, I see someone offering 330k-340k due to supply and demand, I can't tell what the demand is, but I know there are 7 studios, all have been sold. besides the vere, where are you looking?

hungryhippo... why can't you offer 315k or below? Don't let the broker tell you what you can or can not offer, it is what you value the apt at. That 25k glass pane upgrade seems ridiculous. If I remember correctly they had some special windows on the building already, that 25k is down the drain. If you are patient, the prices will come down.

I guess i'm just a poor negotiator haha. i decided to not go for the studio and placed an offer on another unit.

i don't think i can wait, if i did wait, someone with deeper pockets than you and i will get the apartment i want. at that point, he/she would have paid $XXX,000 and the apartment is off the market. i will be forced to pay a higher price if they new owner ever decides to sell it, if ever. the downside to waiting is losing the apartment, the upside is paying a few thousand more. I think the floor at which the developer is willing to go is close to the asking price, let me know if you feel differently and why.

If you are referring to #804, my price would be $425k at the moment. Wait a bit and it'll be cheaper.

I'm also not a big fan of that floor and location of the studio b/c there's a street lights right outside the apartment.

wow, good point. never thought of that.

any opinions of this bldg vs 1vj? also, where did you hear about "leaks and other stuff"?

I read about the leaks and other stuff in the comments section of curbed or the real deal.

I actually like both 1VJ and this building. I think Vere has it over 1VJ though in terms of a rooftop deck and the gym. The gym at 1VJ is practically nothing really.

On the other hand I really really like 1VJ's location, so I guess it's up to you in terms of which is more important, bigger/better gym or better location.

But you know what they say about real estate...location, location, location. Hope this helps, let us know which one you choose!

Yeah, I felt exactly the same way, torn between Vere's roof deck gym lobby & "cold storage" vs 1VJ 2nd floor terrace and weird gym basement 1970's fridge, but the location is great.

Do you currently live in LIC? Is there an option to take this convo private?

I do live in LIC. 14+ years.

I'm not sure about how to make the convo private though. I don't think there's a private inbox on this site.

I'd be willing to chat as I almost bought at both buildings at one point or the other. Looked at studios in The Yard too....the building behind the Powerhouse. And The Industry, down on 44th Drive.

Hello, any news about this building? There are some recent re-sales. Just wondering.

Unit 902 went into contract for $1,097 psf at 1.15 million.
The LIC train is rolling. Anyone bought this building a few years back just had a cool 40-70%.