thanks for the info josh. im curious if you, or anyone else out there, knows what happens if a building that is partly sold, goes rental. i assume that values of the apartments drop, but is it by a ridiculous amount? also does the building make an effort to go all condo once things stabilize or would that be on a condo by condo basis, and are there any other detrimental affects of part condo part rental other than a drop in value, etc? i guess im concerned about this happening to pretty much any of the new buildings in the area as even something like the oro is only 30 or 40% sold and im sure eventually the sponsor is going to want to fill up the place either by selling or renting. also josh, what other places do you know of in the area that are good deals, as ive looked at oro, toren (i just dont like the location of either of these), and a bunch of others and quite honestly i havent seen anything that is new and in as great a location as be@scherm? thanks!

Posted by: bbb at April 5, 2009 1:04 PM in response to The Be@Schermerhorn Price Cuts We've Been Waiting For

in the sub 1mm market... does anyone know what the real story is with be@schermerhorn? im not sure why people seem to dislike this place so much, as per comments from other message boards ive seen. the building seems nice as are most of the be@ properties and the location seems perfect - a block or two from smith and court streets. and its located on a block thats not bad, just dead, but the hotel projects are starting up so it seems like an a great investment since the block will be rolling along shortly and most of the fulton mall is being redone by the city. aside from those on these message boards who seem to hate everything and think the world is coming to an end, does anyone actually know why be@scherm just isnt selling. also, does anyone know the outcome of buying an apartment in a building that ultimately goes rental - i assume the value goes down, but is it really a horrible tihng to own under those circumstances? thanks!

Posted by: bbb at April 3, 2009 9:14 AM in response to Brooklyn Sales: Under a Million

im not sure why people seem to hate this place so much. the building is nice as are most of the be@ properties and the location seems perfect - a block or two from smith and court streets. and its located on a block thats not bad, just dead, but the hotel projects are starting up so it seems like an a great investment since the block will be rolling along shortly and most of the fulton mall is being redone by the city. aside from those on these message boards who seem to hate everything and think the world is coming to an end, does anyone actually know why be@scherm just isnt selling. and joshneely... are your sources reliable about it going rental or does that seem more like rumor, perhaps put out by the nihilists on these boards? i was thinking of putting in an offer for a place here. thanks.

Posted by: bbb at March 31, 2009 7:11 PM in response to The Be@Schermerhorn Price Cuts We've Been Waiting For