Not closing on condo at DISTRICT

I'd like to point out that for the time being you will not be building equity either while the real estate market seeks its equilibrium. But the market will come back one day and you sound very happy with your decision so I wish you and your family good luck and enjoy your new home!

Yea bart, it definitely seems that way.

Thank you NYRE, Im trying not to be one-sided or defensive about my decision (I admittedly have lost big on my investment, if it was just that and not my home) but like you say it is not just the building but, well, all of America and most of the world. When the market does bounce back, I am really confident in this building and my investment.

DuggDown: Great to have a great and hopeful attitude. Just channel it into your new home. Be sure to keep on top of the happenings with your building. The functionality of the District is unproven, so you'll have to make sure there are concerned residents in your building speaking up and being pro-active. Be careful of the owners who have no interest in the well being of the building (the flippers, the non owner occupied and renters).
Remember, the Developer made assumptions in the offering plan that were "pro-former". They represented the income and expenses of a different time. I doubt they had any "stress" applied to them. Keep in mind how the rating agencies told us everything Triple A.

I think that downtown Manhattan in the Financial District will seriously suffer in the downturn. It will be the hardest hit area in Manhattan especially because the area is full of cheap non union conversions.

At least district's interiors was designed by the very talented Andres Escobar which should help in values in the long run.

Who can you believe?

http://www.globes.co.il/serveen/globes/docView.asp?did=1000434371&fid=1124

or

http://ny.therealdeal.com/articles/17991/elert

hilarious. thanks GeorgeK. so very very happy we walked away.

jwalkin - are you taking any legal steps to recover your deposit? Did you see that someone instituted a lawsuit because the Sponsor did not properly register with HUD?

How are the amenities holding up??? Pool temp just natch?

GeorgeK - no legal steps right now. our lawyer did ask us if we wanted to take part in lawsuit, but we did not feel like forking any more money to a lawyer on the "possibility" of getting our deposit back. although, I did see your earlier post on the buyer suing...very interesting and i'll be sure to watch it. If that buyer is successful, that puts a whole new spin on things. many thanks for all the updates.

It looks like Unit718 (1 BR + HO) sold for $962,500 on Feb 18...that's around $768 per sq. foot. Interesting since Brown Harris Stevens has Unit818 (same exact layout - one floor above) listed for $1,210,000.

jwalkin, just fyi, the 8th floor at District has higher ceilings because it used to be the top floor before they added 2 more... (not that that explains 250K of price difference)

318 actually closed at $1,175,000 compared to $962,500 for 718. That's an 18% discount, plus the differential for a higher floor. I checked ACRIS and the same people bought 806, for the same price $962,500, also at a big discount from other sales in the line. (606 sold for $1,185,000.) Sponsor also paid the transfer taxes on each sale, another 1.825% saving to the buyer. Sum total of concessions are approximately 20%.

Sounds like "friends and family".

there's a defect inherent witth streeteasy data.during a new development's price history,9at least in the past few years],upward price amendments took place.so,with each upped price a particular unit rose,along with the others.for example, 9a may have started at 700,000, and went t contract at that price;yetkept increasing to 800,000.evidently,streeteasy sales data would indicate this as a price decline of 12.5%.

Very interesting about the prices quoted by George K. A year ago I offered 10% off list price on the same apartment and was turned down! Now I am relieved! I was always concerned about the common charges skyrocketing in a building with so many amenities.

streetview,

amenities are completed and open. any comments now?

I did an analysis to figure what % of District contracted units did not close. The Africa Israel financial report for 2007 reported that 87 units had been contracted for sale through March 31, 2008. (http://www.afigroup-global.com/userfiles/8aceb13d-246a-4c82-8ab5-a7a95696892b.pdf page 102). I then went to ACRIS (75 units sold to date) and saw that 52 were in contract at 3/31/08. Thus, the closing rate is about 60%. I was also told in Nov. 2008 by JC Deniro that 120 units were in contract. ACRIS reported 71 sales where contracts were signed in Nov. or earlier, a 59% closing rate. There could be a few closings that have not hit ACRIS yet, but it looks like most closings for pre-construction are now done.
Thus, it looks like about 40% of contracted buyers have walked.

Good analysis. Give or take a few percentage points and you still have a dramatic "walk" rate.

Wow! Cannot believe the walk rate was so high. I went by the District yesterday and noticed that the sales office on Fulton was closed. With over 50% of the units unsold, I would have thought they would want a presence to attract street traffic. Glad to hear that the amenities have been completed for those who have closed.

The sales office has moved to one of the penthouse units. Much nicer.

Well, they only sold a few penthouses, so they had plenty to choose from.

Word.

Mar,

fyi, more than 50% apartments have sold. quit your gibberish about this building. you walked from your deposit, isnt it time you walked from this thread? however, if you would like to stop by and visit the beautiful amenities i could have you over as a guest.

I still only see 75 closings, a little shy of 50%. Don't believe the hype that was reported in the Real Deal.
Glad everything is done and hope you enjoy!

You know things are bad when the sales office people don't show up for appointments... I'm just sayin'...

Doorman just told me that about 12 renters have moved in. just checked out street easy to see what people are getting on rentals on not bad at all about $50 per sf.

With the amenities open, personal trainers on staff in the building, and they are throwing parties for the tenants and their friends, 421-g officially approved and taking effect July 1, and new concierge services with text message notifications about packages and deliveries and camera views around the building, it really seems the opposite of what people on here have been saying. I still love this building, more and more every day.

Congrats, DuggDown. I work near the District and it seems like everything will work out in the long run. What's the deal w/the personal trainers "on staff?" I can't imagine anyone would want to actually pay for trainers in their monthly maintenance fees.

DuggDown: I never understand the logic why renters are just as good as owners moving in. You'll have to see how many invest in making their apts habitable. For example, window treatments are they sheets? Are the renters moving in because they perceive a short term benefit by getting a new building at comparable costs to older rentals?
Keep an eye on your common charges. As an owner you don't want to subsidize the renters.

DuggDown,

the building is filling up fast it seems. pls pay no attention to imposters like nyc212 and others. there are many haters out there! District will prove to be a success story in an otherwise challenging environment

I am apparently an imposter, but I thought I'd let you know that I appreciate the effort by the sales team on this board. Good job! Let's see what happens in, say, 6 months???

DuggDown: I'm confused as to why an owner would be happy that so many renters are moving into their building. To me, that just means that many of the original purchasers simply bought as investments, which is a less desirable composition than having live-in owners. Furthermore, those renters are probably paying significantly less per-month than the owners and are getting the exact same benefits. And don't give me that nonsense about building equity. Many early buyers have seen their equity (from their down payments) all but disappear and it'll be many years before any meaningful equity emerges. I'm not trying to rain on your parade. I was just hoping you could clarify your logic for me.

well I hate to harp on the trainers but I'd say that DuggDown has issues if s/he actually thinks that District has full time trainers (plural) on "staff." That would be the most ludicrous thing I've heard in a while given the relatively small size of the building and this economy. If it does, I'd recommend they vote to fire this parade of trainers and hire one by the hour when needed.

saw this last night. looked pretty nice spacious but very unusable kitchen (a must for me since i cook). Last night there was a building party for the residents they had drinks and free massages on the roofdeck. Not sure that I would want to pay for all that through my common charges. still considering putting in an offer but not sure about it because I would want a much more useable kitchen. Still have to see 20 pine and its 600psf apts.

ssskit,

party was paid for by sponsor,

imom,

equity all but disappear? time for you to clarify. you have no idea what price people bought at and where the apts are currently trading. one apt just closed for over 1k psf. ridiculous comment.

10022,

we had a panty custom built for our apt. my wife cooks most nights (quite deliciously i might add) and the kitchen is more then adequate. the oven/mic (top of the line) is small but we arent planning on cooking many turkeys or roasts. bottom line, the kitchen hasnt impeded our lifestyle at all.

What about the tiny dishwashers ? did you have that changed ? they were super small. I have to say i liked most things but being a cook I thought the kitchen was unusable.

What is the latest on the bankrupcy of the developer anyone ?

dishwashers are fine for us. they clean dishes better then my last few washers. probably doing more loads b/c of size, but again, not an issue.

LOL, I just went to the website and saw the first page. Man, if getting some abercrombie and fitch model to drape himself by the front window doesn't get the place to sell, then there is no hope for this building.

chunderboy - you should really watch the "promotional" movie that they have on the website for further kicks :)

http://downtowny.blogspot.com/2009/04/district-movie.html

We saw District awhile ago and actually really liked the units. Compared to 20 Pine, the units are relatively bright and have decent layouts. The roof deck is the best that we've seen in all of the new FiDi buildings. As GeorgeK mentions, we can't think of any closings here in the last couple of months, but we could be wrong. The sponsor's marketing/sales team is also soooo shady - they kept showing us units where the "previous buyer" had "traded-up" to a larger unit and was therefore breaking their contract (whatevs).

-DT

http://downtowny.blogspot.com

Downtownster - Actually, they just closed on a unit for $497,000, a 4.4% discount from ask, but still north of $1,000 per ft. ACRIS listed closings have still not hit 50%. It still looks like a 40% walk rate. As you mention, there are still lies and misinformation out there, so let the buyer beware:

http://ny.therealdeal.com/articles/17991/elert

I highly doubt that the remaining units will be an "easy sale without discounting anything", as the above sale has demonstrated.

There is no community down at the district. There is no grocery stores and no life, just tourist. why would it be a sucess story? UWS and UES are both selling off and they are the top areas in the cities.. Now why would I live in FiDi, if I can buy something up there.

I saw a one bed home office here recently. The common fees were about 1200 and the taxes (with 421G for 8 years) were 300. The taxes phased in at 20% per year after year 8 (2017) by 2022 we would be paying 1200 in common fees (assuming this does not change) plus 1500 in taxes. Does it not seem too high to pay 2700 in carry costs ?

Bart: "You have no idea what price people bought at and where the apts are currently trading."
Of course I do. It's called Acris. You should look into it.

"one apt just closed for over 1k psf."
Tell that to the person who bought a year ago for $1,300 psf. If they put 20% down at $1,300 psf and an apt just closed for $1,000 psf, they have just seen their equity vanish.

Listen Bart, I understand the emotional need to justify your investment. I get that it must be a very sensitive topic. But try not to lose your sense of reality. As Duggdown mentioned, lots of renters are moving into the building - not a good sign for existing owners. The developer is discounting the remaining units in order to unload them - another negative for existing owners. Finally, prices in other areas like UES and UWS have come down significantly, which means that prices in Fidi aren't going to turn around anytime soon.

There is no community down there...no good schools, no grocery stories, no one walks down their during the weekends. I would never buy FiDi...unless UWS and UES goes to 3000 per sqft and Fidi is at 500 per sqft. I would walk away or sell why you can.

RE_PRO, I am not sure if you are serious, but there are 3 big supermarkets w/in 5 minutes from the District (two gourmet--Zeytuna and Jubilee, and one "pedestrian," Gristedes...the first two must be w/in 2 minutes walk from the District). No life? Have you been down there lately? Many of us actually go down to FiDi/South Street Seaport/Stone Street to go out!

Also, I second iMom on her perspective about some people on this thread needing to justify their investment. FiDi is great, w/ parks, shopping, bars, restaurants, etc., but the District won't be a wise investment for most of us...

10222, well, how big was the unit? How many baths?

I have a friend who bought an 1,100SF 1BR w/ HO--2BA in a new conversion in FiDi, and his projected monthlies after 421g runs out will be $2,200, which I think is reasonable for the size, amenities, and the fact that it has 2 full baths... $2,700 would be fine in my opinion, if the size and amenities justify the amount--but aren't the amenities minimal at the District, though? Why are the monthly CCs so high?

South Street and Stone Street are old news..There are better places to hang out. Gristedes is a joke. Where is the Whole food. I agree with iMom too.

I own in FiDi and I hate it.

"Of course I do. It's called Acris. You should look into it." Nice one, iMom. LOL

But more seriously, the simple ability to come back with this response is a great example of the power of information in real estate. I'm happy to report that it's getting harder and harder to recall what it was like in the dark ages before ACRIS and SE.

RE_PRO, so you do admit that your earlier statement was inaccurate. It's not that there are NO supermarkets but the three that are in the immediate area aren't good enough for you. Also, it's not that there is NO life--instead, those numerous bars and restaurants are not good enough for you.

With this said, do you have anything against FiDi personally? Please notice that most of us here are talking about the Development itself, not about FiDi being "dead," because that'll only tell the rest of us that you have never been down there.

Please be more articulate next time you make these comments. I mean, so many new eateries and bars have opened up in the last few months, and for you to be calling them "old news," you must have such an active night life, and your view is probably atypical.

Thank you.

nyc212, I don't admit that my earlier statements were inaccurate. In fact, it is my opinion that it is a dead area and it is almost a factual truth. The crowd down there are tourist..what a pain. I have been down there many times and it is dead, dead and dead. I would go down there for a drink or two but I would never live their. It is boring down there. Those eateries and bars are going to be in trouble soon because it is dead down there.

imom,

no one at district bought for 1300 psf, CHECK ACRIS. pls know your facts before you open your mouth

RE_PRO, the "factual truth" you present proves to me that you have never been to FiDi--perhaps you've been down there as a tourist?

Why are you even posting on this thread if you have no idea? There is a huge community of residents down there, with parks and supermarkets and everything else, and your "factual truth" is completely counterfactual. Why go on? ZEYTUNA. JUBILEE. GRISTEDES. All within 5 blocks. Period. Why fight it? Do you think tourists are sustaining these supermarkets--particularly Jubilee, the 24-hour supermarket??? It's okay if you have no idea. Just don't feel compelled to butt in.

Also, NYU, New School, Pace--huge dorms, all in FiDi. Do you actually think that those kids would allow the area to be dead? Seriously, if you are uninformed, don't feel bad. You can always learn w/o opening your mouth, announcing to the entire community that you are ignorant!

IMOM

pls show me one apt that closed at 1300 psf.

P.S., I think I should add a 4th supermarket in the immediate neighborhood. To the north of Fulton, there is a CTown or Associaated. Again, within a few blocks from the District.

I don't like the finanices of the District, and I really don't think the bldg. is all that in terms of the finishes, amenities, etc. But I can't agree if someone trashes the entire area, citing inaccurate information. At the right price, I'd say the District would be a viable option.

thank u nyc212 for having an intelligent discussion on this thread unlike many others

monthlies are approx. 1 dollar psf. is this greater then normal in condos?

bart22, as a casual observer, I get annoyed when people are for or against a development when they know nothing--especially citing inaccurate information. I am in no way associated w/ the District, and here is the bottom line I see:

1. The bldg. is decent, and it is a VIABLE option at the right price. The finishes are adequate, although it isn't as luxurious as they originally wanted to brand it, and I have heard some problems w/ leaking showers and squeeking floors. I love the big windows and the art deco feel on the exterior.

2. The bldg. financials aren't good at this point, but with rental income and more sales, it should stabilize.

3. Thus, I feel that it is a bit over priced right now.

4. Finally, you can completely discredit anyone who says there are no supermarkets or night life in FiDi. They are just ignorant (e.g., what other neighborhood has 4 big supermarkets in the immediate area--ranging from regular to gourmet, one of which is open 24 hours?). Until a few months ago, we had more people here who claimed FiDi was completely dead at night and over the weekend, until some of us shut them up w/ facts. Some residents talked about how they couldn't even walk their dogs around their bldgs. at night/over the weekend because there were so many people around.

bart, a 1.5-minute search turned up the following:

http://www.propertyshark.com/mason/nyc/Reports2/showsection.html?propkey=51742396

$1,650,000 / 1,312 SF = $1,257 psf

I don't have time to go through all the sales in the building (I'm at work and frankly, I'm just not that interested in your building) but I'm sure this is not the highest $psf sale in the building.

That is okay.. just wait till FiDi RE goes down the pipe and then you can tell me about the nice communities, eateries, bars, and RE_PRO being ignorant. I sold my FiDi apt early last year so I dont care if it goes down the tube, just wanted to enlighten neophites like yourself. It seems like you own a property or two down there nyc212.

imom, thx for info. however i believe most owners including myself bought at or below 1k psf. this building priced its units much more realistically then some other comparable condos in the financial district

What do you all think is the right psf price for the District ? Last sale was at 800psf and that was in february. 20 Pine is going for 600psf. Do you think 600psf is fair ?

I think it will go much lower than 600sqft since UWS and UES are going for 800 sqft... With all the shadow inventory and banks unwillingness to lend, I would say 400 per sqft is probably a good buy.

RE_PRO what are you thinking about when you say shadow inventory in FIDI ?

nyc212 I saw a 1br HO with 2bathrooms about 1100 sqfeet. The projected monthlies of 2700 seem high to me but i wonder if i need to focus on them right now since they are at least 8-12 years out. The building has a pool/roofdeck/gym and smaller number of units in the building than 20pine/15broad. Hence the higher commonfees per unit as it has to cover all these facilities.

re: high monthlies
So when do you focus on them? In 5 years when you might want to sell, and any prospective buyer realizes "gee, in 5 years a tax time bomb is gonna go off! There's no way in hell I'm paying more than $400psf for this future money sponge!!" I'd start thinking about it NOW. Didn't UD do a whole story on these abatements and how scared they should make buyers now?

Decided not to put in an offer. The offer that I would put in would be abt 500psf and I cannot see them considering given that their list price is more than 50% higher than my offer.

Wow. I can not believe some of the BULL SH*T that is said here. I wonder what some of you are thinking or who you really are.

First of all, I brought up rentals because my friend who introduced me to the building bought 3 apartments as investments. If you check out ACRIS, there are multiple LLCs who bought the apartments for this reason, and to be getting $55+ per sf in this market really says something- about the building and the neighborhood. Whoever says FiDi is dead is a moron. Why are there people waiting at the sales offices at District and at 20 Pine? Why is it impossible to get a table at any spot on stone street? Why have there been 4-5 contracts signed in the past two weeks, including one at over $1,000. The market fell? NO SH*T! The stock market fell 40%, my dad/step-mom's place in Boca is worth 60% of what it was, my mom's building on 63rd and Lex is selling apts at 30% less, my best friend on 78th and Columbus was able to lower his rent 25%. Get a clue, lowered apartment prices has nothing to do with FiDi, in fact getting $1000+ per sf in a recent sale is very strong evidence that it is not even so bad in FiDi.

Building in bad shape? -- PLEASE PROVE ME WRONG ABOUT ANY OF THESE POINTS

1) Despite what was said in about 30 of these posts, amenities were finished and are officially open... ALL OF THEM

2) Kent Swig and the Sheffield have a problem, because Mr. Swig isnt paying his maintenance on hundreds (majority) of units that are unsold. AT DISTRICT, THE DEVELOPER IS PAYING CC FOR HIS PORTION OF UNSOLD UNITS. THIS BUILDING IS FUNCTIONING THE SAME AS IF IT WERE AT FULL CAPACITY

3) The developer just threw a party for tenants out of his pocket. Were any of you there? It wasnt a stereo and a disco ball-- this was a high class party! It went on from 7 to midnight and the food and drinks went on until the very last minute. There were specially printed district gift bags for the tenants, and it was packed all over.

4) I got a letter from Cooper Square stating that the 421-G tax abatement has been approved and will kick in on July 1st. THAT MEANS I AM ACTUALLY GETTING SOME OF MY CLOSING MONEY BACK! AND I WILL BE PAYING $200-250 A MONTH IN REAL ESTATE TAXES.

5) I met one of the new purchasers at the party and they said that the sponsor is adding kitchen cabinets to their apartment as part of their agreement. I myself got them to give me a washer/dryer free. IN THIS MARKET, ANYTHING IS POSSIBLE. YOU CAN GET WHAT YOU ASK FOR!

Also- for those who ask why personal trainers on staff is a good thing? BECAUSE THE COST OF MAINTENANCE IS THE SAME AS WHAT THEY PROMISED IN THE OFFERING PLAN, AND I ACTUALLY USE THEM. LET THEM SPEND THE MONEY ON THAT THAN SOFTER TOILER PAPER FOR THE STAFF BATHROOM.

The reason I'm so confident in this building is because I see it in people's faces when they walk in. The design and quality is beautiful, and the construction in my apartment is very solid (I have been throughout the city, from walk-ups to 600 apt new buildings- I have had windows leak for weeks, A/C units not work in summers, appliances break, and bothersome work done because of poor plumbing), this place has been pain free for the 6+ months Ive lived here. The staff in the building is simply unbelievable, the best I have ever experienced, I can not believe how friendly and helpful they are. And most importantly, it is the positive atmosphere and word of mouth that goes around the building and was clear during the party.

PLEASE PROVE ME WRONG!!! USE SOME FACTS AND FIGURES, I AM A REASONABLE PERSON, WHATEVER I AM WRONG ABOUT I WILL GLADLY ADMIT IT!

I don't know or have no opinion one way or the other on this building. Just curious, how long is the abatement for?

no=any

The abatement is 13 years- 8 years full abatement and then a 20% annual increase the last 5 years.

Just got 17th amendment to plan. According to sponsor, there were 76 closings through March 16th and 43 unsold units (incl 3 commercial units). So if you take 163 less 76 less 40 you get 47 units. These are probably the units in contract where the buyer walked away.

Good information - proves ACRIS is accurate.
I also have been told that 3 contracted buyers have filed suit against the District for refund in Federal court. These are claims under Interstate Land Sales Act.

Maraman, or anyone else, know what the latest on the lawsuits (under Interstate Land Sales Act) brought against Leviev are? Or where I can find this information? Thanks!

Here is a link:
http://dockets.justia.com/search?query=Leviev+Fulton+Club&search=Search&stateorcourt=court-nysdce&lawsuittype=&documentfilter=allcases&cases=mostrecent&min-day=1&min-month=1&min-year=2004&max-day=1&max-month=7&max-year=2009
I think you have to demand repayment within 2 years of signing your contract and must file suit for recovery within 3 years, so you may be close to the deadline.

Thanks Maraman. Anyone else considering filing suit?

District is in a dank area.

FYI I was wrong about one of my points above... My Real Estate Taxes came in and they were $160.. FOR THE FULL YEAR. The abatement is even lower than what they were anticipating. This is actually saving me thousands of dollars that I expected I would be paying.

I think you mean the abatement was even HIGHER than anticpated.

District pricing appears to be coming down to reality. 807 just closed at $550,000, compared to a list price of $765,000. This comes out to about $770 psf.

What just happened? Everything is off the market?

New listing agent has been selected. The lies and deceipt just keep getting worse:

DISTINCLTY DISTRICT A Family sized apartment steps from Great Parks, Great Shopping and Great Schools!! Welcome to one of Downtown's most successful condominium development. Now 100% completed and over 70% sold and occupied with Immediate Occupancy.

How can they say 70% sold and occupied when ACRIS tells a different story. Shame on you!

So Maraman, what part of that is untrue?

Parks: City Hall Park, Park Row, BATTERY PARK...
Schools: District 234 School System, rated best in the city
Shopping: I think anybody with minute knowledge of the area will know, I dont need to get into detail

Closings: ACRIS shows units that have closed, and they are showing 97 (60%). Closing, of course, does not mean under contract. It is not unrealistic that they are 70% sold.

DuggDown - you own in the building and live there, yes? Would you drop me a note as I'm in the market and curious? And anyone else who owns/lives there as well.

jvfnyc@gmail.com

DD - As of today, I only count 84 closings on ACRIS (and StreetEasy). That is barely over 50%.

Sponsor's agent recently claimed 60% closed and 80% projected assuming all of the outstanding contracts complete to close.

I love that a consumer can look on sites like this one and ACRIS and see for themselves what the truth is. This market needed more transparency, especially for the buyers.

Any incentives here or how to put an offer?

It looks like the last sale for District was 7/22 when a PH203 sold for 810k.
That was over 2 months ago.
Are they moving units in this building?
I am interested in this building but have concerns over if they are indeed 70% sold.
According to ACRIS, it looks like they are barely 50% sold.

agreed luchias dream---i bought a new constr condo in late 04 agqainst the advice of my excellent lawyer (sold in summer 07 luckily)---none of the info easily available now was available then---in hindsight, whoa was I lucky flying so blind

it looks like something is happening. perhaps they're switching brokers yet again. perhaps they sold off blocks of units to investors. or perhaps they ran into real financial difficulty. does anyone have any info?

yes, i dont understand what games they are playing. One day they have 1 unit in contract and the next day they have 9 units in contract. The next day they have 1 unit again.....I have been watching this building closely and the reality is ACRIS says the last unit sold was 7/22, over 2months ago. Does anyone know any facts here?

Yes does anyone know what is going on in this building ?

I saw this place recently...looks very nice.
A lot of the postings here are very negative and I'm trying to figure out the bottom line to this building.

Can folks who live or rent please help me out since it would help me decide if this building is right for me?

neeta and loveny,

what information are you looking for? i own in the building. the doormen have told me that there were many contracts signed late summer. i cant give you a number b/c i dont know it. ive followed up recently with them asking how many have been moving in ? they've then rattled off apt # of recent move ins. in the past 2 weeks there have been 2 move ins on my floor alone. im going to guess the contracts signed info on streeteasy is accurate based on what ive been told and seen in the building. its seems however that there is a lag on certain sites when it comes to closing data.
id be happy to answer any questions you might have. just provide an email or post here

We have the building approved so it must mean they have more than 51% in-contract still. They had a higher amount of signed contracts but I guess some walked. Ive closed several units in the building but none recently. sunny.hong@bankofamerica.com

I think this building is a very nice building. Although Fulton street currently has a lot of contruction, I think the values of District will go up in the long run. The finishes are very nice and the amenities are great. Altho I think 20 pine has better amenities, this building has better layouts and the apartments are much brighter. Besides, you dont live in the amenities, you live in your apt!

Bart22 - how is the building functioning? I know the amenities are open...have you had any problems in the construction of your apartment? Is everything running at full capacity?

This is a great building. Values will skyrocket over the next 5-7 years as Fulton St and WTC get completed. FiDi is already becoming the new hot area, and this will only increase the next few years.

FiDi is the new hot area?

I must have missed that.

So will common charges and taxes skyrocket. Don't forget to think ahead. High common charges will curb values.

hot, as in you'll get burned if you touch it.