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30 W 63 St Condo

Started by hananoko79
about 17 years ago
Posts: 3
Member since: Feb 2009
Discussion about
Guys, I am just wondering if you think this building is a good buy. Thanks in advance for your input.
Response by nyc10023
about 17 years ago
Posts: 7614
Member since: Nov 2008

Nope. Ugly postwar building, not zoned for a good school. I can't see RE taxes getting abated for the project.

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Response by PMG
about 17 years ago
Posts: 1322
Member since: Jan 2008

A very convenient location, and not everyone sends kids to public schools. Some of the apartments have fantastic views. But overall, it is a monster of a building, and I don't think the premium the Milstein's want to charge is worth it. Please correct me if I'm wrong about the sponsor.

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Response by hananoko79
about 17 years ago
Posts: 3
Member since: Feb 2009

Thank you so much, guys! :) what do you think of 1200 psf for this building? Justified?

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Response by PMG
about 17 years ago
Posts: 1322
Member since: Jan 2008

my guess: Central Park view: 1400, high floor Broadway: 1200, standard 1000. very low floor 900. This building is larger than the Manhattan House. How in the world is it going to get sold in a high enough percentage to meet new Fannie Mae standards? Are they planning on offering discounts to current tenants to attract as many as possible? Are they offering financing?

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Response by quantum
about 17 years ago
Posts: 102
Member since: Dec 2008

Decent location, but the building is god awful. It looks like a glorified housing project, a post-war modernist nightmare. It's disgusting how bad the quality of NYC architecture is.

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Response by hananoko79
about 17 years ago
Posts: 3
Member since: Feb 2009

Thanks, PMG! I think they sold some one bedroom apts on low floors for 500K to 550K. It is about 900 psf. I am just wondering if the price for higher floor unit is going to fall further given the economic situation. Is it possible they dont get the approval to turn condo. from the attorney general?? hm...

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