Forum
« Attic Insulation & Venting Water Damage Question »
August 24, 2009
DT Condos Going to City?
http://www.nypost.com/seven/08242009/news/regionalnews/city_dealing_to_make_luxe_condos_cheaper_186159.htm
BellTel?
Comments
Posted by: BH76 at August 24, 2009 12:46 PM
It must be the Forte or Be@ building.
Posted by: brickoven at August 24, 2009 12:58 PM
I'd say Forte rather than Belltel. Clarett recently passed Forte back to the lenders and the article does say "Whether the program works depends on bankers' hunger to get rid of their distressed properties" which suggests that it's a lender decision not a developer decision.
Posted by: johnife at August 24, 2009 1:00 PM
sucks for the people who own at Forte is it is Forte.
Posted by: brickoven at August 24, 2009 1:17 PM
Of all the "new" condos, BellTel is the least luxurious. And has all those 1000 sq. ft. studios (no legal bedrooms). I had heard that the developer had been talking with the city for some tiem.
Posted by: BH76 at August 24, 2009 1:30 PM
So what happens to the owners in those buildings?
Posted by: serpentor at August 24, 2009 4:11 PM
Any current unit owners are untouched (except for illusory "profits" on appreciation that may not be thre regardless). And it might be good for them in the long run as the sponsor gets out and the residents can take control of the building. If it truly is downtown, Forte is really out. But Oro, Belltel, be@schermerhorn are all possible.
Posted by: BH76 at August 24, 2009 4:51 PM
It's possible it's be@. They yanked pretty much all of their sales except for one unit and according to streeteasy they don't have much in contract. But would almost the entire building go affordable? I would think it might be a building that's a little more sold where they just want to hurry and unload the remaining units. Who knows though.
Posted by: NYGuy7 at August 25, 2009 11:21 AM
Post a comment
Please be patient while your comment is published. It may take a moment.