Verde 125 west 22nd st.

it is great, but not as great as 133 West 22nd St...which is the greatest building ever

What would you pay psf?They are at 1250psf now

apt_boy...what are you still bitter about?

or perhaps it would be more appropriate to ask why exactly you detest 133 as much as you do?

Sizzlack,would you know anything about Verde,good or bad??thanks

I couldn't tell you anything about the building other than I've seen moving trucks out front the last few times I've walked by.

michele1045 I know the building well and would be happy to answer your questions, what did you want to know?

thanks nycbrokerdax
1.heard 12a was available,it sold in july for 1.73,seems that with the market the way it is that 1kpsf should be the norm so 1.6should be the number,do you think in 6-8 months it would be even less
2.the cc seem high
3.what type tax abatement and for how long,what is it expected to be at the end
4.says there are 33 units but only list 23 in contract and active ,are they waiting to put the others up?

HI Michele1045,
Lets see--
Yes 12A sold for 1.73 in July, although it went into contract about a year and a half earlier. The building was delayed in its completion so many of the buyers who were in contract had been waiting for a while. Most of the listings that you see as "in contract" on Streeteasy have actually closed, I am not sure why it is not updated completely. The sponsor still owns units 3B, 4B and 13A which are currently on the market. 3B and 4B are three bedrooms that are 1686 square feet asking $1,699m and $1,689m . 13A is a 2 bed just over 1200 sq ft with a sizable terrace asking $1,699m 13B is also on the market which is a duplex with a roof terrace for $2,495m Both 13B and 12A are resales.
THe cc's are a little high, mainly because when there are only 33 unit owners sharing the upkeep as opposed to a larger building where it is more subdivided the cc's tend to be higher. The tax abatement is a 421-a 10 year tax abatement which has not yet begun, it should be starting soon, within the next couple months, it just takes a while for the system to kick in with new developments. With the abatement the taxes start at 131 dollars per month, and then every two years for the next ten years it goes up by 20 percent of the TOTAL amount, which off the top of my head for this unit is probably around 1600. I have the offering plan for the building at my office so can look up the exact amount.
This building did have its closings before the current economic downturn fully revealed itself, so they did not have issues with people walking away from deposits etc..., and except for the handful of remaining sponsor units the rest did close.
Have you seen this particular unit (12A) in person? It is somewhat different from some of the other apartments in the building in terms of layout and the floors are different. In terms the the price thats a whole other issue, yes I believe that for this current market at this moment it is priced too high

nycbrokerdax,thankyou.I am looking for a resale only and I am patient.I am also waiting to see what comes down to 1000psf.Do the units come with storage?I also want a 2bedroom with at least 1500sf or more/I still think that at this time 12a should be 1.6.Why does streeteasy list it In cnotract?
You have been very helpful

Michele1045, no problem, glad to be of help. I am not sure why streeteasy is not as updated as for example property shark if you know that website. Property shark pulls directly from the city transfer documents and I am not sure how streeteasy gets its data.
I think it is good to take your time in this market and follow it for a while before taking the plunge, because it is now a time where you as the buyer do have a lot more power and can be sure that you are making the right decision. I think that the prices will definitely be dropping more, what we are seeing now is that the developers have "clued in" first and are dropping their prices and/or negotiating substantially to make a deal happen now, whereas resales, unless there is financial duress on the part of the seller they have not yet made the same moves, but they will in time.
I agree with you in terms of pricing, 1,995 in this market is high, but having said that I also think that this particular unit, compared to the others for sale in this building is nicer... just not 300k nicer...!