East Hill

can you provide a link? because the streeteasy link still shows 10 apts in contract:

http://www.streeteasy.com/nyc/building/212-east-95-street-new_york

They are dancing 'cause they're in trouble. Who knows what is real with these people. They list non-existent apartments for sale, they double list the same apartment that is in contract under 2 different names. They have begun price reductions, albeit on apartments that don't physically exist. Prices need to drop a long way there,a long way before anyone should consider.

They probably have lost some of their contracts because of mortgage contingencies and I will bet others are thinking of backng out. I think the link is:
http://www.prudentialelliman.com/MainSite/NHD/NHDInfo.aspx?id=268&loc=0&nhdproptype=&PageName=residences#BuildingListings

i'm not surprised. east 90's is a horrible place to live, once you go east of fifth avenue.

Could be some of these have closed and not updated as sales yet. I believe several units already have tenants moved in.

I looked at this place. Back in May, when it wasn't yet clear that we had such a dire economic crisis (but the winds were blowing), it still had part of the "East Side 90's transformation" feel to it. Subway line on 2nd coming, the neighborhood changing dramatically for the better over the last 20 years. Much closer to my daughters' school. Looked at a few apartments there - superficially nice and new looking, but some stupid designs, honestly, w.r.t. space (at least if you have family or would own more than three pots in the kitchen). Been watching them play this shell game with listings. I think they're in trouble now.

I think we were in a similar situation as you type 3. We also looked there and were initially very interested. The situation has all changed now. Some of the flaws of the place have become very evident. We now expect to be able to find a place that offers more at a better price. I think that if they are not proactive in pricing, they should get into trouble. They are definitely playing alot of games which is disconcerting.

I listed this building as one of the worst in the city, but for reasons that are more aesthetic: the gas firplaces flues stick out of the front of the builidng make it look like the kind of venting you see in chinatown to mask the sweatshops that exist inside. And check out the glass awning. It tilts backwards and has a 6 inch gap between it and the building.no way for it drain to the side. Want a nice shower? idiots

I can tell you with certainty that the 1BR "contract signed" listing for 825K fell through, as buyer pulled out.

"the gas firplaces flues stick out of the front of the builidng make it look like the kind of venting you see in chinatown to mask the sweatshops that exist inside"

Yes, i was like WTF? with that - I thought it was a strange incongruity with the rest of what they were trying to pull off (which overall, at least in a first look, isn't bad - but not at those prices).

We asked about some space redesigns in July on some apartments that were not anywhere near done (hardly begun) construction. They talked for a while, became more negative when we persisted, and then essentially told us to take a hike. I feel this summarizes the place - slick and welcoming exterior hiding not so nice underneath.

Like some other posters, we were initially intrigued by the 2 BR's here in the Spring and recently (pre-mega crisis) visited the block and neighborhood and weren't particularly impressed. The exterior of the building didn't look asthetically pleasing and your a couple blocks from 96th, one block from a school, and across the street from the old "Dormandy Court" where every 22 yr old renter moves out of college. We didn't even see the interiors as the sales office was closed on this particular Sunday. They're facing an uphill battle in this (or even a moderately better) market.

did anyone hear about the new rule on getting mortgages on new developments...there needs to be either 50% or even 70% of the apts in contract before the bank will give you a mortgage....never mind this building...its small...what about those mega buildings in williamsburg?

Why would 3b be more than 7b....? The views are much better higher up.

The mistake with 3b vs 7b was one made in the system by accident. There are two different plans on the 6th floor that are combinations. They will sell it as either a 3 bedroom or a 4 bedroom so they are not doubling up on lisitngs. They have closed on 8 units and those buyers have already moved in. THey currently have 2 more units in contract.

can someone explain how 8EAST is in contract while 8A and 8B are listed as sold? there's only room from 2 apts on the 8th floor as per their web site.

Why did they put that nasty red tile in the waiting area? Looks terrible. What is going on with this place?

i was initially intrigued by this place as well. between the fireplace flues sticking out of the side of the building like a bad chinatown sweatshop, the glass awning tilted backwards and with huge gap at the facade virtually guaranteeing you too can be drenched before you hit the sidewalk, and then the pennycheap 1" red shower floor tiles behind the doorman's desk. I'm no longer intrigued. Not every condo can be top shelf and this one doesn't aspire to be. but boy am i glad I'm not one of original purchasers. Set your dial on $675-$725 sf and watch the market come to you.

What doorman's desk??
Is this place going to make it??

well. it is built, so it's not like some of the projects where the crane's have stopped hoisting the cement. no. it's more a matte of how long does it stay overwhelmingly empty or minor construction issues goe unresolved. 8-10 units doesn't begin to cut it for profitability and the more the place looks finished the less polished its look has become. I said doorman's desk perhaps prematurely as i walk by the place once a week. It would seem that having a doorman's desk in front of the red tiles would be the appropriate place to put it. What do you think?

"well. it is built"
Yes but not well built, in fact it looks chintzy.
I think they are in cost cutting mode.
BTW, where have the cranes stopped moving?

Just noticed the new Fannie Mae "New Development" regulations (70% in contract for a mortgage guarantee?). East Hll is not even close. That will hurt them going forward (along with many others) IMHO.

Ubbatubba, if you have written the building off, what difference does it make where they put the doorman's desk?

It means that people are taking my advice:

Now is the time to buy at East Hill

Buy now or be priced out forever at East Hill

Go to the sales opps rent office at East Hill and catch that falling knife.

Is the 70% rule the reason for the two appts that haven't closed in 4 months and the other one for 8 months?

I doubt Fannie Mae 70% referred to above has anything to do with this. Apartments have closed in the building, people are living there and, according to the Elliman site, Commerce Bank is offering 90% financing on new purchases.

vibotelho-
do they plan to fix that gap in the glass awning and are they going to get rid of that red tile in the lobby?