500 Fourth Avenue Sees Most Spring Contracts

Actually, my view is that the location is great! It's only a couple of blocks to the subway and a very pleasant stroll to some fabulous restaurants, essential services (banks etc.) and retail on 5th Avenue. It's a short subway ride up 4th Avenue to my current local haunts - sheep station and various places on Smith. Very convenient to get across to Red Hook for the food stands in the park and the waterfromt etc. Even Gowanus makes for some interesting strolling about - some wonderful 'finds' recently. The concierge service is a selling point (as is the washer/dryer - no more ghastly laundromat!), as are the shared amenities in the building. 4th Avenue will take some time to develop and be more pleasant for sure, but in the meantime this is definitely the best deal I've found within my financial means. I've put an offer in on one of these apartments - as have about twenty-or-so others, judging by the 'reserved' apartments on the availability list. Like me, I expect the other purchasers now have their attorney working hard to ensure all is fine and dandy to proceed and go into contract! Just hope it's all ready by late Fall for moving in, at least before the end of the year so I can get my $8,000 tax reduction as first time buyer. Can't wait! :)

Posted by: sandgroper at July 13, 2009 1:39 PM

LOL How utterly amusing. Pot calling the kettle black? I would say so. Anyhow, an opinion is just an opinion - including yours and mine. Hope you're enjoying this wonderful sunshine. I am!

Posted by: sandgroper at July 13, 2009 2:12 PM

Hehehe ... I think you're really funny! My opinion is a genuine outlook. It's a real shame that you can't handle a contrary viewpoint - evidenced by your unwarranted condescending comment. Still ... I guess you're just living up to your own sockpuppetness so good on you - enjoy your amusement.

Posted by: sandgroper at July 13, 2009 3:03 PM

Thanks Lechacal. I shall watch and read with wonder. But I've had my fill with this little back and forth. Better things to do and if I have anything further to say about the building I will, but for now that's actually it!

Posted by: sandgroper at July 13, 2009 3:09 PM

Wow! It just dawned on me that there's no room for optimism on these comments pages. That is a real disappointment!

I'm not connected with this development in anyway except to be a genuine purchaser.

It's a real shame you have such a low opinion of your immediate and surrounding neighbourhoods, as well as such an obstinate disapproval of anything and everything to improve them. Most of you have nothing to say except negative empty comments and to personally attack an individual who has a positive outlook.

Granted, a lot of the new architecture is certainly unimaginative and the street-level isn't being considered anywhere near enough. Plus, 4th Avenue is quite ugly. But your overly personal attacks on any contrary viewpoint is astounding. I did a little back and forth because I thought someone was joking around with a play on words and thought it fun ... but my goodness, I'm shocked.

Unless this really is just a game and I don't get it - hobbyists? Do you have a table of points for each sting (bzzzz)? Hmmm.

Many people purchase properties for a whole bunch of different reasons. Out of everything I've seen, 500 4th is the best for me, it's in my personal price range, it ticks my personal check-boxes and it's the only building where I haven't walked about finding all the faults. I've been there three times to determine this, inspected the actual space I'm buying (with hard hat admittedly) and I like it.

As for pricing, I've done my own comparisons and read the quarterly reports for value of square footage blah blah blah. At the end of the day, anything is only worth what someone will pay for it. The obscene prices in the past is a testament to that. I'm prepared to pay for an apartment that costs less than $600 per square foot - which is what I'm getting at this place.

Right place, right time, right location (well location isn't totally perfect, but I can live with that ... ).

Just hope those new rules of Fanny Mae don't upturn the process. I guess if a lot of people get caught up in that then you lot can hark on about how places went into contract but didn't close for all of your own distorted reasons.

And I don't think I'll get stung, my attorney will be doing their due diligence on my behalf and, any red flags ... I'll be outa there. And you can be real pleased about that because there'll be another failed condo to rant on about.

Signing off. SG

Posted by: sandgroper at July 14, 2009 8:17 AM

The location of the Baltic Tower is good. But for the price I wasn't convinced by the standard of finishes in the apartments, there's only a central laundry (for me my own washer/dryer is important, although not for all people) and additional amenities including a doorman is always a bonus. Love Boreum Hill, which is also a sure-fire investment. Not surprised these are selling - yes, it's always much better if a building is move-in ready.

Posted by: sandgroper at July 14, 2009 9:39 AM

Thank you for the kind words. :)

I agree with you, there's no short term gain to be made with this investment, but the current market does enable me to own a home that will be a marked improvement on what I currently rent, and it'll only cost me an extra $250 for monthly outgoings (before tax deductions). Not bad I say.

Posted by: sandgroper at July 15, 2009 8:51 AM

Around $70,000 spent on rent over three years has gone 'poof' too. :) Depends how you look at it. Thank you for being nicer than the other people. I appreciate it.

Posted by: sandgroper at July 15, 2009 11:04 AM