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building at 99 Jane Street

Started by modern
about 17 years ago
Posts: 887
Member since: Sep 2007
Response by stevejhx
about 17 years ago
Posts: 12656
Member since: Feb 2008

You're overly optimistic. At 7.5% you get:

Down Payment: $3,300,000
Mortgage Amount: $13,200,000
Mortgage Payment: $92,296
Total Monthly Payment: $98,167

Then, of course, eventually the tax goes up since it's abated.

Most of Manhattan is only 100% overpriced. Nice to see one that's 200%.

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Response by 30yrs_RE_20_in_REO
almost 6 years ago
Posts: 9877
Member since: Mar 2009

Am I the only one who is a little surprised at how dated a lot of the units look these days in terms of layouts, ceiling height, finishes, etc considering how groundbreaking the building was with record breaking prices?

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Response by KeithBurkhardt
almost 6 years ago
Posts: 2985
Member since: Aug 2008

Quite honestly the building was not very impressive when it was first built, even though expectations were much lower then. But of course when it broke $500 square foot for a location that even at that time was a little difficult for many buyers, that was the big surprise. My kids were second generation West Village nursery School, some of our ues friends at the time thought we were quite adventurous:) Now it might be slightly easier to get into Harvard...

I think the valuations were most surprising here in 2014 at least from what I remember. I'm just digging into some crepes with blueberry / strawberry coule that my seven-year-old just made start to finish. God bless the kids baking championship, so I haven't actually looked back at prices through the listing is what I'm saying. I forget which unit James Gandolfini had, but I saw him in the hood quite frequently.

But for anyone who is die hard for the West Village, it's all about location!

I always thought it would have been more interesting to have converted the West coast into condos. I believe the building is a puzzle of 11 separate old warehouses, was quite an engineering feat to seamlessly piece it all together. Considering when RockRose bought the building I guess it's quite the cash cow.

Keith Burkhardt
TBG

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Response by 30yrs_RE_20_in_REO
almost 6 years ago
Posts: 9877
Member since: Mar 2009

When I started at Arthur Andersen a bunch of guys were sharing this odd 4 BR apartment there and at the time (1982) that building was considered so in the middle of nowhere.

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Response by 30yrs_RE_20_in_REO
almost 6 years ago
Posts: 9877
Member since: Mar 2009

Remember the High Line still ran THROUGH the buildings when they originally converted them, and then they added apartments later when they got rid of the "Right of Way"?

https://gvshp.org/blog/2015/07/22/what-was-here-before-the-west-coast-95-horatio-street/

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Response by KeithBurkhardt
almost 6 years ago
Posts: 2985
Member since: Aug 2008

Yep definitely remember that! Yeah some of the larger apartments in that building were pretty funky layouts. I remember being on an airplane and there was a copy of architectural digest or one of those magazines. There was actually a really interesting article about the engineering and design that needed to take place to seam all those separate buildings together. Then across the street at 114 Horatio, half the building was a warehouse the other half was new construction.

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Response by stache
almost 6 years ago
Posts: 1296
Member since: Jun 2017

Seems to me like I was in that building many moons ago. Pretty restful area.

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Response by 30yrs_RE_20_in_REO
almost 6 years ago
Posts: 9877
Member since: Mar 2009

Just don't use the payphones.

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