Checking In On The Argyle

Last I heard they are in the process of getting their CoO. Letters to close might come as early as late Feb/early March. That means April for move in date. They way things are going I would say June is probably the reasonable date for majority of the owners.

16 units available is the accurate number as far as I know.
BTW - there are 60 units total. 1 for live in super and 59 total for sale. It was originally 1/58.

Posted by: crimsonson at February 3, 2009 11:18 AM

I saw the floorplans for this building. All the northern windows of the 4th Ave section of the building are lot lines. The 7th street section have northern exposure also, including some balconies and terraces. I don't know what the view will look like from there.

Montrose - let us be honest here. With some exceptions - a lot of the "buildings" around this part of 4th Ave where repair garages.
And not like 4th Ave is a small intimate street. It is what - a 6 laner with a center divide? So doubt a tall building is really out of place here. On 7th street yes you have a stronger argument.

Posted by: crimsonson at February 3, 2009 11:59 AM

MM -
Well considering nothing around the block is more than 4 floors of course it will look disproportionate to other structures.

SS -
Although I am not a buyer here - a friend is - I did agree with him (my firned) that the location is good considering going in to prime PS is going to cost you - especially for established buildings. The price on this thing is is less than $800 psqft. Some are even less than $700. Nothing is over a million. I helped him look around in PS and at best he could find was $520k for an older condo that needed some fixing. Nothing major but would cost at least $15k. Other than not being in 5th Ave, Argyle is still a better buy.

.02

Posted by: crimsonson at February 3, 2009 1:52 PM

No Eman.
By agreement and law at least 60% of the sales is legit. Why? Because the 'plan' is officially in effect. If you know RE and condos you know what that means. There are legal and financial consequences when a dev declares that.

Posted by: crimsonson at February 4, 2009 12:09 AM

Snark- as I said - the 'plan' is in effect as my friend has received the notice for it. Under the OP, this had to happen when at least 60% of the units are under contract. Plus any buyers associated with the development and marketing company CANNOT be counted against the 60% under NY law. The actual total sales is 44 units. 1 is for the in house super. And another by a Corcoran employee buying in to the building - independently for his family. Even then the actual total units under contract is around 42 units of the 60 or 70%.

BTW - Street Easy is incorrect in their labeling. Technically in every presale for new construction nothing is 'sold' until closing. They are 'under contract'.

Posted by: crimsonson at February 4, 2009 8:36 AM

See this is what is sad about Curbed and to a lesser degree Brownstoner. Whenever someone brings actual info about RE that is seller or broker friendly somehow you MUST be a 'broker'.

I own a condo. I am pretty sure some here own one too.
This might be a surprise to you Snark - but StreetEasy's presale info is never 100% accurate for any new development. If it is - it would be an exception to the rule. You know why? Because it is not public info. It will not be until the deed is signed and recorded with the city.

BTW - you can also call the Argyle for info (which I did several months ago because I was considering it for investment)

Sheez

Posted by: crimsonson at February 4, 2009 12:16 PM