The Oculus Condominium

yes it is. They closed apts in the last couple weeks or so, people are living there.

I went to the open house this past weekend. I thought the apts looked pretty nice, not super lux, but not bad. Lobby is nowhere at this point and the elevators are boarded up.

10 rental listings in this small new building!

yeah a lot of 2brs and high prices. I don't know much about the people who intended to flip - I was never associated with that game, but perhaps that is what this building is all about?

Yes, how can there possibly be so much demand for apartments above $5K per month? For the 2BR and plus range, this has to be a renter's market ...

Active Listings (9)
$13,950 50 West 15th Street 2 beds 1,285 ft²
↓ $9,900 50 West 15th Street 3 beds 1,611 ft²
Open House: Sun, Dec 14 (1:00 - 3:00)
↓ $8,000 50 West 15th Street 2 beds 1,265 ft²
Open House: Sun, Dec 14 (12:30 - 1:30)
$8,000 50 West 15th Street 2 beds 1,229 ft²
Open House: Sun, Dec 14 (12:30 - 1:30)
$7,995 50 West 15th Street 2 beds 1,181 ft²
$6,800 50 West 15th Street 1 bed 1,068 ft²
Open House: Sun, Dec 14 (12:30 - 1:30)
$6,500 50 West 15th Street 1 bed 1,068 ft²
Open House: Sun, Dec 14 (12:30 - 1:30)
$4,850

Won't this block be filled with a large hotel, plus a union plus a homeless shelter?

The hotel is on-hold (it will never be built). The union hall is empty. The homeless shelter is on 16th Street, not 15th Street.

This is a lovely block (I live there). Very quiet, very residential. No bars, no restauants, lots of trees.

If the hotel does get built it will replace the union hall. And its not a homeless shelter. Xavier operates a food bank on Sunday mornings from like 9-11am. They stand in line, get their food and disperse and in three years of living on the block I have never encountered a problem. In fact on nice days many of them wish me a good morning as I walk by with my dog. Plus one of the guys who helps maintain order used to be a stunt double for Steven Segal, so you definitely don't want to f around.

If the elevators are boarded up, are the residents walking up a flight of stairs? That's pretty shitty.

Why are all these "luxury" condos in NYC near homeless shelters and projects? Loft 25 in west 25th and the onyx in west 28th are prime examples of this. It just shows how hard it is to find good buildings in nice locations in NYC.

Rufus perhaps you should visit NYC sometime. There are no homeless shelters and no projects ANYWHERE around the Oculus. I'm not advocating living in the Oculus, but to try and suggest that is ridiculous.
However coming from you it is merely more of the same.

Well, I've noticed this pattern for a while now. Developers will build condos in shady areas and market them as being in desirable areas. Loft 25, Onyx, 100 eleventh, jasper (which totally flopped), tempo, gramercy by starck, are just a few examples.

Ok, you noticed a pattern. Did you also notice the pattern of developers building stuff NOT in areas like that too?

To consider 15th St and 6th Ave to be a shady area means you have never been here before.

15th between 5th and 6th is about as Prime a neighborhood as there is in Manhattan IMHO.

Very attractive floorplans.

wow equal number of rentals and sales.
that street does have a homeless food pantry with the entrance to the church through the back on 15th street, fyi.

If you know like I know:

Now is the time to buy at The Oculus Condominium.

Buy now at The Oculus Condominium or be priced out forever.

Go to the sales opps rent office at The Oculus Condominium and catch that falling knife.

stevexjh is not me.

thanks for adding to the discussion

The reality is that these units are priced so competitively that they will be the LEAST affected by the current state of the market. It is the similar units prices at $1,400 a foot that will be hit first (and hardest) as they drop to $1,200 a foot. Since the Oculus is already at $1,200 a foot, there is a little cushion to buy here without concern for a material and immediate drop in value.

Beautiful building

The exterior of this building is one of the nicest, coolest of all new condos in Manhattan.

Um, it is a cheap plastic exterior installed on top of glass installed by non Union labor. Additionally, you weren't aware of the big RAT there? http://curbed.com/archives/2007/12/12/curbedwire_something_big_at_98th_lex_rat_at_the_oculus.php

Again, non-union labor means better construction, better materials, half the cost. It's not plastic, it's terra cotta. BIG difference. Huge.

Apitbull.....I think you need to get your materials straight. What is plastic? There is a slate colored metal on the front and then terra cotta accents. There is no plastic that I can determine. Terra Cotta is a very hot material in building. Annabelle Seldorf is using on some of her buildings in Manhattan. Also, what does union vs. non union have to do with how a building looks?

I think the "accents" are painted metal. I like them although I did have the concern that they will look dated in a number of years (who knows) and could be a bit of a problem. Anyway, did anyone else have problems with the windows during the wind on Thursday - they are coming to fix a few things next week.

ps Joba, good spin. Either way, it was more affordable, which counts for plenty.

2 apts (7C and 2E) went into contract here after the open house last week. It'll be interesting to see what % off ask they sell for.

sooo ... what happened with 2E being relisted now? and with a significant price deduction as well.