Be@Schermerhorn
What does everyone think of the condos at Be@Schermerhorn? Good investment or risky? Big price cuts in early October on all the units, but they are apparently still having trouble finding buyers (currently less than 10 units in contract out of 250 units). How does everyone think this building will fare given the current economic…
What does everyone think of the condos at Be@Schermerhorn? Good investment or risky? Big price cuts in early October on all the units, but they are apparently still having trouble finding buyers (currently less than 10 units in contract out of 250 units).
How does everyone think this building will fare given the current economic downturn? Good investment or bad?
Heather, forget cursing, consider suing. You know that in most cases it is illegal for landlord not to rent to you because of children, right? (And where was this apartment across the street from Be@Schermerhorn? Macy’s?). What you describe is discrimination on the basis of famiial status and it’s illegal and a hot potato – has gotten Brown Harris Stevens among others in trouble because they were aiding and abetting the kind of discrimination you seem to have encountered. If it’s an owner occupied building with four units or fewer I think the discrimination is legal, for some reason, but for a standard non owner occupied building it’s against the law. If your application is otherwise solid, they rent to you and do the abatement. That’s the idea in theory. In practice landlords want to avoid the expense and liability. But to actually say “I’m not renting to you because you have kids..” Illegal, generally and STUPID. Surely he could have taken issue with something having to do with your credit report? Or another application just came in that was somehow stronger (eg no kids)? Or something?
As for Be@ I think it’s a good deal, though I think they should have washer-dryers in the apartments. I suppose it’s likely to go rental.
Long-term I think it’s a good investment. Location is amazing — I am still cursing the landlord across the street from these that wouldn’t rent to us, although I understand his reasoning and am grateful that our child will not have lead poisoning… anyways, location, location, location. Central. This is good.
Considering the glut of luxury condos in the area, long-term, good investment. Short-term, perhaps notsomuch.
But great empandadas should also count for something.
I don’t know how this couldn’t go rental. I just wonder how long it will take before they give up on sales.
The developer tried to sell the building during construction. In a Post or News article a few months ago, he said that 53 Boerum was to be rental but he lucked out and sold as condos and on be@ it may be the opposite — go to rental. I would not buy now in any nnew building unless it is at least 80% sold. Beltel owners are getting huge tax bills — the abatement is not in place and will not be for a long time — why would a developer fully complete the building when he just has to sit on it? Not a good situation.
It’ll turn rental within 6 months. I’d actually be surprised if anyone’s approving mortgages right now on any building with such a low percentage of sales.