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June 29, 2007
Mill Building Closings Have Begun. Really.
After a slight delay, we gather from a buyer that real, live closings have begun at The Mill Building on North 3rd Street in Williamsburg. Have any readers actually closed yet? On another note, it looks like there are three apartments still available which is weird cuz six weeks ago there was only one.
85 North Third Street Listings [Corcoran] GMAP
Mill Building Gets TCO; Closings in 30 Days [Brownstoner]
Condo of the Day: The Mill Building [Brownstoner]
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Comments
Perhaps they heard you can't get on the L nowadays
Posted by: Anonymous at June 29, 2007 11:52 AM
williamsburg is in BK?
I thought it was just a name of a type of jeans made by THE GAP
Posted by: Anonymous at June 29, 2007 1:39 PM
At least one has moved in.
Posted by: Anonymous at June 29, 2007 1:52 PM
it might have taken 5 months to read the 300 plus pages in the condo offering. Anyone notice the sponsor was begging the tenants to buy? and offering first a 20% disciunt and then a 25%.
Posted by: Phat at June 29, 2007 4:34 PM
Huh?
Posted by: Anonymous at June 29, 2007 6:05 PM
I checked out this building early on, passed, then suffered non-buyers remorse. Went to look at it last week, prepared to kick myself, only to see a really unfinished building in still very raw shape. Concept of the units is great; execution has lagged so far. Still, buyers here may end up happy, maybe very happy. Certainly the "cool factor" is present, unlike most other offerings.
Posted by: Vautrin at June 30, 2007 2:30 PM
hm, three quarters of a million dollars for a 1400 sq foot apartment with a window-less 'home office' in lieu of a bedroom. Sounds great.
Posted by: Anonymous at July 2, 2007 5:05 PM
Check out this thread on Curbed. The peopel who are buying in the Mill are having a ton of problems - over 150 posts and very little in the way of closings. It looks like the sponsors are jerking everyone around big time.
Posted by: Anonymous at July 2, 2007 6:55 PM
oops-Here's the thread from the last post:
http://www.curbed.com/archives/2007/05/02/williamsburg_cabanawatch_mill_doing_its_thing.php
Posted by: Anonymous at July 2, 2007 7:07 PM
What's this about discounts - were the sponsors really giving a 25 percent discount? How do you know?
I considered buying into the building and feel lucky I didn't.
Posted by: Anonymous at July 2, 2007 9:31 PM
1-Closings are taking place and at least one tenant had moved in as of last week.
2-The "discounts" were for the IMD tenants. They have the opportunity to buy their units "as is" at a discount. This is SOP for condo conversions. Same as if the building was Stabilized and was converted in a non-eviction plan.
3-From the first day the prices have only gone up. I paid the equivalent of $499 a foot and the last unit went for $700 a foot. So everyone is doing fine. My unit appraised for more than the contract price.
4-Of course they are going to fill in the missing slats. Please.
5-The Sponsors are doing the best they can. They have made some mistakes in timing, but are working hard to correct whatever the problems are.
Posted by: Anonymous at July 3, 2007 10:23 AM
This is the first I've heard of this degree of f---anywhere. It sounds like a horrible mess to be in. So glad I didn't buy at the Mill building. Do the buyers have any recourse?
Posted by: Anonymous at July 3, 2007 9:22 PM
Then you don't get around very much.
Posted by: Anonymous at July 5, 2007 1:17 AM
I bought in the Mill. I haven't closed yet. I'm in no rush. Everything is fine for me.
I think there is one fuck face out there who fucked himself over and is blaming it on the developers and brokers. I think I know who it is now too. I'm going to expose you for the retard you are...
Posted by: Anonymous at July 8, 2007 9:24 PM
Yes, there were some closing delays, but not unlike a lot of new developments. Half the people I know have similar stories of delays.
I've closed and moved in. There were a few minor problems like missing a door stop or switchplate here and there but the management made the repairs quickly and have been very helpful.
The beams and floors turned out lovely and everyone who comes over is knocked out by the place.
With the exception of one nasty buyer who was insisting on having her new neighbors bumped from their previously scheduled freight elevator reservations, everything is terrific. The building and other buyers seem great!
Posted by: Anonymous at July 9, 2007 11:20 AM
You got doorstops? Please elaborate. I was told no doorstops in ANYWHRERE after I observed that there were none.
Especially in the bathrooms where they are need most.
Posted by: Anonymous at July 9, 2007 12:09 PM
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