Loft 25

The common charges and taxes combined are ridiculous. Well ovr $2000 for a 2 BR. And that is just til year 2. Who knows how high it will go after that.

For the buidling of that quality it does not seem to be that cc and taxes are that out of line. Expensive, no question, but not more so than any other luxury condo.

great looking building, only if it was a block or two away from its current location. saw the finished and quite desirable, problematic location and would not consider paying 800 a suqare foot.

Does anyone know when the construction is gonna be finished?

It is probably on a land lease, otherwise how woould one explain the high maintenance?

only a bunch of the lower price units have sold- tough sale- some new construction is flying off the shelf like stratus, caledonia etc-- some like loft 25, 245 10th- not really selling- some is location such as loft 25, some is the layout of the apartments-

the apts look gorgeous. the architects (traboscia roiatti) have done an amazing job with this one...

Did you see the article in the NYmag about the High Line?

sounds like there is a lot of developer's enthusiasm about this whole deal west Chelsea and High Line. Do you think it's going to last? Is west Chelsea going to be next Soho? I suppose the galleries are already there, what's next?

I'm considering Loft 25. I think the finishes and design are fantastic. To me the presence of "the projects" is not a big deal. And seriously, if it prevents the Duane Readification and Washington Mutualization of the block, I'll take the projects. That's the real blight in my opinion.

Maintenance does suck inexplicably at Loft 25.

I'm surprised the (kinda tacky) Caledonia sold so fast and didn't seem to be held back by the mega-projects facing 17th Street. I find that particular block actually a bit intimidating, more so than the 9th Ave/24th st area. Honestly, the Caledonian is beginning to physically resemble its project neighbors as it gets its erection on.

I agree with dashertz65. Did they tell you estimated times for closings?

Estimated closing is October 07. Which means "whenever."

When I was buying last November they told me July-Aug 07, the way the building looks now I'd say October is optimistic. Do you think it could go into 2008?

I doubt it could be October

I can't believe someone thinks that the "project" is not problematic! I live on the street. I moved here 5 months ago and have not slept through one night undisturbed. The blaring radios, the 5 foot speaker brought out into the "playground" area. The drug deals going on in broad daylight. The "Crips" all over the place. The garbage and trash littered all over the street. The vomit, feces and urine you have to walk over. This is the worst location I have ever lived in all my life. It's amazing too, you go one block in any direction and you are in a different world. And if you think the police are going to do anything about this, you are mistaken. I have writen the mayor, city council, community board and gone in person to the 10 precinct. This is not going to change any time soon. I hate and never shop at Duane Reade..but give me DR and Washington Mutual ANY day. I am trying very hard to get out of my lease. I have never lived in such a miserable place.

Repy to #16. Having lived in Chelsea for over 20 years and currently in contract on a unit in Loft 25, I'm really surprised by your reaction. I travel 25th street weekly and have never seen what you are claiming transpires. The project is mostly elderly people and NYC has never been known for gangs/Crips as you call them. A good friend of mine lives on W.10th street between 5th and 6th avenues and a neighbor in his multi MM apartment building was beaten in front of their building by a bunch of thugs from NJ no less. Also, just read an article recently where NYC was rated the 3rd safest city in the country. NYC is known for neighborhoods changing from block to block. I would much rather live on W.25th street than be down on 16th Street in the massive Caledonia which looks like a suped up version of it's "project" neighbor. You should really think about moving to Chicago or LA where they put the "less fortunate" on the outskirts of the city.

I've lived on 19th street for 15+ years between 7th and 8th avenue and have had to endure countless sleepless nights from bars, the likes of "G", Peter McManus and the Chelsea Billiards club (which recently closed and is being renovated for luxury loft condos and Diesel's headquarters) and the fire station on 19th street which blares sirens at all hours, all days and all seasons. W.25th street will be a welcome change and our unit faces south.

Dollar for dollar Loft 25 is the best deal. We looked at tons of coops (all neighborhoods) as well as new construction. The finishes, $/square foot Loft 25 is the best deal.

dashertz65 (I hope you consider purchasing in loft 25)

i live in chelsea and had a look at loft 25. building interior looks great. only concern is the same as slman. i have been there at night and it is slightly concerning. especially on the 9th ave corner side. the shop of the corner attracts some nasties. i do hope they manage to fix this problem up because the building itself looks wonderful.

so when are we going to see a firesale on this place?

Apparently there are only 12 units left out of 67 - excluding the glass JK building - and it's been on the market for less than a year. Why would any think that a firesale would be coming? Lots of famous arts/design people have bought in Loft25. Agree that $/sq foot, Loft25 definitely best deal in town.

I went 6 weeks ago and nothing has sold since. The project will be done soon. I just feel like the developers will need to do something. The 8 units that have the low ceilings are in serious trouble. They feel like caves...

AAA-Which arts and design people have purchased in the building? As i have also bought a unit I would love to know who my new neighbors will be.

Loft 25 website still shows 22 units available. Are they anywhere near closing? I haven't checked the (physical) site out in a while.

I was told there will be phased closings starting late December through early next year. Unfortunately I have a contract on a C unit and since there is a hoist going through the entire line, my unit will be one of the last to be completed. I'm thinking late January but I don't know if that's being optimistic. I can see the daily progress as my bedroom window in London Terrace looks down onto the south side of the building. It appears that the majority of the units are approaching completion but the sundeck-and I assume the penthouse units-have a ways to go.

Any closings yet? I walked by the other day and most of the scaffolding is down but there are some ugly holes in the facade.

They've begun the first wave of closings. The holes in the facade are from where the elevator hoist was connected to the building.

Don't want to compromise privacy of our new neighbors (I've bought a C line unit too), but the ones I know about are a famous movie director and another is a high-profile art director. I'll leave you a note at the front desk with their names when we move in ... :-)

Hi everyone,

We are very excited to close next week. It's been a long journey - we bought in November 2006. We will be in 2A. I think we were one of the first ones to buy...Actually, the very first post in this discussion is mine... Looking forward to meeting our new neighbors!

path--we're looking at loft25 now. can you explain to me why the common charges are so high? Why
at did your attorney think after he read the offering plan

curious77:

the cc seem slightly higher than in other buildings but you do get a lot of amenities like in a big building, ours feel much more boutique though. If you divide this between 79 condos it adds up. As far as the offering plan, we did not have any issues. The sponsor's attorneys are very reasonable.

to path: we're considering making an offer, but would like to know how you got comfortable with the concerns expressed in this discussion and elsewhere about the projects across the street--safety issues etc?

curious77: we had these concerns when we bought, and the truth is -the projects will be there. I think though, that the project are merely an eyesore, not a real security issue. If you think about it, the people who live in these projects are likewise concerned about their safety as you and me. I don't think it's likely that they will be assaulting you right across from there own home. Besides, supposedly, there is more police monitoring there. Honestly speaking the entire 9-10th avenue corridor is a concern (Fulton Houses between 16-20 streets). But it did not prevent developers to build super luxury developments (including caledonia, where the project will be part of the development!) on all these streets in the last couple of years. I think we are getting a break in price (1000 psf as opposed to 1500 psf) to be on that street.

thanks for your input. maybe we'll meet up as neighbors

how long before they offer a free 1 bed here every time you buy a mercedes ?

haha

Would anyone please update the concern about living across from the project? I have read all those concerns in this discussion and it seems most were written 2 years ago or so. I believe the street got cleaner and nyc police is doing a better job about security issue. However, it is true that the project bldg is not going anywhere and it can always be remained as a concern for resale.
Thank you.

there are more to come:
http://www.nytimes.com/2010/03/26/nyregion/26parking.html?partner=rss&emc=rss

The projects are a problem, but what's behind the walls there is even more of a concern.

RAL == A.G. record.

Ask any original owner at Franklin Tower.

I don't see what the problem is with low and middle income housing and we have had no issues at all.

The construction was checked by my contractor and seems to be just fine.

The addition of another luxury building will simply add to the improvements in the area.

Just fine. Until you find out otherwise.

perhaps you only scanned the article but that is not the addition of a luxury building. it's another middle income housing project. i am not a project basher like others. the real problem with this one is it's going to kill some of the windows at the heywood and get rid of some of the nicer northeast views and light at loft 25.

truth tell us more about the walls. what happened at lincoln tower?

jason: It's Franklin Tower, in TriBeCa.

Leaking windows, insufficient fireproofing, leaking a/c system and loose bricks on the facade.
Discovered by the owners after move-ins.

One million dollar restitution, ordered by the A. G.

But, the finishes are very nice.

Sorry, I did not read the article to the end. When we looked at the Heywood, it is seemed common knowledge that the lot was up for sale. Personally, I am not worried about the lot being developed, but I see how it could harm some views. I figure everyone who lives in NY must know that very few views are ever assured.

Loft 25 has been up and running for several years now. No leaks in our unit. We had the insulation checked and it seemed fine. Plumbing is fine. I heard there were some loose brinks in a few places.

If someone is thinking of buying in this building, pay a good contractor check your unit and the building thoroughly. Better than assuming there is or is not a problem.

Fair enough, lookingat25. For now...