Novo negotiable?

lol..I know. I guess I can be light hearted about it since I'm not an owner- but work on the park has finally begun which means most of the heavy construction is done but who knows when the CO will be issued.

Anyway, anyone else have any idea if the developer has been flexible on price? Anyone purchased parking? Thanks.

Posted by: panda10 at February 20, 2008 4:40 PM in response to Novo negotiable?

8:30- I'm no broker. I'm not sure why you would think that just because I just registered (I'm a long time lurker- and never initiated a post so no need to register before today- I've responded to a few like you as "guest"). Also- what in my question makes you think I'm a broker? Encyclopedia Brown you are not. And why haven't you registed at all?

I'm a guy in a difficult position. I never planned on buying anything this year. I've been saving trying to wait for the right time- but with one child already and another on the way- living in a rental (which I love) is kind of worrying me. I've been looking, had a couple offers in, but nothing exciting has come of it.

I know the general distate for the Novo (the Soviet housing comments, etc- which I agree with partly) but I think my wife and I should at least look before we forget it completely. Believe me- I'm not completely jazzed about the building or anything- but for g*d's sake, there are a million units in the thing and I figured some owners must read Mr.B too and would perhaps share their experience with me.

I generally enjoy the snarkyness on this board and I find some of the comments helpful- and I'm even a fan of "The What" (where is he by the way?).

I just think it sucks that you have nothing to add except what you said in your post. I don't even know what you mean by "Makes me nervous"- about what exactly?

I'm going to one of the many open houses they have this Sunday and the 2 questions above are the 2 main things on my mind before I go in. Thanks to the rest of the people who posted- I do appreciate it. And any help with my original question on future posts would be great.

Posted by: panda10 at February 20, 2008 11:53 PM in response to Novo negotiable?

Thanks Velvet and bkjennie. My wife and I were under the impression that new developments rarely negotiate price- unless they've been around a while. The unit I'm going to look at does indeed look over 4th and I'm worried about the view too (and the noise) but the units facing the other way are priced higher and I don't think worth the premium. Also the ones on the really high floors are priced even higher than that and I couldn't even afford those so that's a no go. I've read the comment about the bathroom before on curbed- that you have to go through the closet and the shower is tiny. Still- its 1 more shower than I have now. I guess I'll see for myself.

What's 457 Atlantic?

Posted by: panda10 at February 21, 2008 2:23 PM in response to Novo negotiable?

3:28- really? Great! I've been looking for a while now so please send me 1000- ok- just 5 listings with:
- 3 bedrooms (at least 85 sq. feet each)
- 1100-1200 square feet
- No walkup (ok- 1 flight)
- Zoned for 321/39/107
- 2 bathrooms (no half baths please)
- $900K or less (maintenance has to be less than $700).

Forget the central AC/heat (since no brownstone apt would have that and I don't mind window units). Oh yeah- it has to be in move in condition (does not have to be new- just nice enough to require no work upon moving in).

People like you 3:28 are the real sad ones. You make comments that are impossible to back up- and you're the guy you run into in the neighborhood- find out where the other person lives- walks away- and talks sh*t about them behind their back- not even thinking there must be a reason behind certain decisions in their lives.

Seriously- if you can send me the 5 listings I would love it so I can go visit those properties too. I really am anxious to increase my search and I guess I haven't been doing a good job looking since I missed 1000 listings.

Thanks.

Posted by: panda10 at February 21, 2008 4:55 PM in response to Novo negotiable?

5:08- thanks- but I should have specified- not interested in anything on the other side of the Prospect- and I'm looking to be closer to a subway.
5:09: 2 bdrms.
5:10: Saw this one- liked it- but its not in any of the 3 school districts I'm looking in- and its close to a million.
5:11: I saw this too and liked it. But I'm sorry if I didn't make it clear- I'm looking for less than $900K and they wouldn't budge. Actually I'm told they have multiple offers higher than ask.
5:12: Not in any of the school districts I specified. Nothing wrong with PS 282- but I don't want to be that close to Atlantic right now.
5:12: Have you been to this one? Its on the 4th Floor.
5:13: Not in any of my desired school districts and maintenance is over $1000k.

So other than the 1st one (which was my fault) the other six listings did not meet the above criteria. If you find more- that meet ALL the criteria- please let me know so I can schedule a listing.

Besides- why do you care so much about people who buy in a place that you don't want to live? I don't know why it offends you so much.

Posted by: panda10 at February 21, 2008 5:36 PM in response to Novo negotiable?

Thanks 12:49. I think that stinks. I've found out a couple of people have gotton out due to a "material change" in their particular unit (one less window than the original rendering for example) but your info is helpful. I know some developers offer incentives instead of price cuts (like storage units, etc.) but I don't think Novo offers anything.

5:43- sorry I'm a nutjob for asking for 5 listings out of 1000 that meet my house search criteria. Maybe you're in a different position than me and can widen your search to anywhere in brooklyn- but I'm not. I also don't have boatloads of disposable income where a price difference of $50K does not matter. Anyway, I would still like help finding listings so if you find any (please- that meet the above requirements) please send. Thanks.

Besides- if you ever read the original post- I'm not a fan of the Novo- but for a complete search- I would be foolish not to check it out.

Posted by: panda10 at February 22, 2008 11:12 AM in response to Novo negotiable?

The Novo is asking 839K for a 3 bedroom.

The one listing you sent that was close to my $900K price point was the 5th street- which I put an offer in and was rejected right away. They had multiple offers above ask.

Again, you say things like there are 1000 listings but you can't find any for me. Please just send them over when you have them.

You sound really smart yourself and I'm thankful for your help. When you get the 1000 listings, let me know.

Posted by: panda10 at February 22, 2008 12:10 PM in response to Novo negotiable?

I don't get it- if you're so busy- why comment on posts that:

-you offer no help on
-you have no useful information
-you have no vested interest

I keep checking b/c I'm curious about my original questions.

You have time to send me 7 links- 6 of which ignore the basic criteria I laid out.

Thanks for taking care of your 3 brownstones by shoveling and keeping the pedestrians safe. Keep in mind- I've never insulted you in any of my replies. Not sure why you're so hostile in yours.

Posted by: panda10 at February 22, 2008 12:33 PM in response to Novo negotiable?

Citi (which has generally pretty high rates)- will give 5.875 on a jumbo with FICO above 700 (or 720? I forget). I think that's pretty good. As for conforming limits- that won't change for a while. The GSE's have to first change policies- then that goes out to lenders- and then the lenders change underwriting. Its up to you, but I think 7/1 is pretty safe. Lots of people got in trouble with 2/28 or 3/27 but seven years is a long time so if you have a good rate- you can lock in seven years and then during that time- try to refi with a fixed (although new closing costs would suck).

You never mentioned with APR you were offered. Also- no one is securitizing now.

Posted by: panda10 at February 22, 2008 2:00 PM in response to seeking advice on securing jumbo financing

I'm sorry. I'm in no position to be condescending to a person with your real estate prowess and knowledge of science (since people you dislike are missing chomosomes according to you). Also- thanks for the black ice comment; I'm sure you're extremely popular with your many neighbors with 3 brownstones and all. Tell me which 3 houses are yours in PS so I can avoid the black ice that you leave for the kiddies.

Oh- if you ever find the listings- I would love to have them. This part I'm actually serious about. I don't think a lot has come up in PS in the 3 school zones I'm looking in so any heads up would be great. Oh- BTW- "Why can't you look at places which are over your asking price and negotiate towards 900k?"

Well- 900 is above my ask which is why that is my upper limit- so I do hope to negotiate towards my ultimate offer price- but I'm sure I didn't have to explain that to you.

Posted by: panda10 at February 22, 2008 2:01 PM in response to Novo negotiable?