Visisted the sales office on Sun to see 1bd sponsor units advertised at $490K. While waiting for the agent I was told there are no 1bd for that price and was handed a brochure and tear sheets for 1bds. They adverstise 5% financing available - it is not. The agent then informed me that the marketing materials were 2 yrs old and nothing applies. Then I was shown a cracker box of a 1bd for $565K with... [more]
Visisted the sales office on Sun to see 1bd sponsor units advertised at $490K. While waiting for the agent I was told there are no 1bd for that price and was handed a brochure and tear sheets for 1bds. They adverstise 5% financing available - it is not. The agent then informed me that the marketing materials were 2 yrs old and nothing applies. Then I was shown a cracker box of a 1bd for $565K with $1200+maintenance. The bathroom was 4 ft wide!
When I asked why the maintenance was so high when it wasn't a doorman building, I was informed that a 24 hour super is the same thing - tell that to my doorman! Also all the amenities are 'to come' which means your maintenance is paying for improvements not yet implemented which get to be enjoyed by the 75% of the building that are renters.
Then I was told that the lower priced 1bd were rented. Why - they couldn't sell them and oh by the way the building is 75% renters and no one can get financing - so they are expecting all cash offers.
It was like an 'un' sales pitch and I might added told to me with a straight face.
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Response by OnTheMove
about 17 years ago
Posts: 227
Member since: Oct 2007
I dealt with Shares of NY 18 months ago and found them very offputting. I called their sales office and asked them about their pricing, but they would not tell me over the phone. They wanted to find out a lot of information about me and what I could afford (without giving a s**t about what I wanted), make an appointment, show me the apartments, and then disclose the pricing. I did not see the point if the price was going to be a nonstarter, so I declined to have the discussion. Maybe they would have been better off if they had been more open and friendly when the market was at peak.
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Response by 407PAS
about 17 years ago
Posts: 1289
Member since: Sep 2008
Just curious, what percentage was deductible on that maintenance? Did you find out? Was this a condo or a coop?
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Response by ncy10025
about 17 years ago
Posts: 198
Member since: Feb 2009
Yes it was very strange, there's something going on there but I can't figure it out.
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Response by ncy10025
about 17 years ago
Posts: 198
Member since: Feb 2009
407 - it was a coop - I did not ask how much was tax ded - but the apts are WAY overpriced so at that point I no longer cared.
I dealt with Shares of NY 18 months ago and found them very offputting. I called their sales office and asked them about their pricing, but they would not tell me over the phone. They wanted to find out a lot of information about me and what I could afford (without giving a s**t about what I wanted), make an appointment, show me the apartments, and then disclose the pricing. I did not see the point if the price was going to be a nonstarter, so I declined to have the discussion. Maybe they would have been better off if they had been more open and friendly when the market was at peak.
Just curious, what percentage was deductible on that maintenance? Did you find out? Was this a condo or a coop?
Yes it was very strange, there's something going on there but I can't figure it out.
407 - it was a coop - I did not ask how much was tax ded - but the apts are WAY overpriced so at that point I no longer cared.