Should We Feel Sorry For Novo Contract Holders?
Say what you will about the Novo’s architecture or finishes, or about its developer, or about the fact that it won’t have the most exciting commercial tenant in the world. All of a sudden, we’re starting to feel kinda bad for the 4th Avenue condo’s contract holders, some of whom have been waiting a looong…
Say what you will about the Novo’s architecture or finishes, or about its developer, or about the fact that it won’t have the most exciting commercial tenant in the world. All of a sudden, we’re starting to feel kinda bad for the 4th Avenue condo’s contract holders, some of whom have been waiting a looong time to move into the building. While everyone knows that new-construction delays are possible, or even likely, we’re hearing some desperate stuff from contract holders these days. One person posting on the Novo Yahoo group last week had this to say: “I heard a somewhat worse scenario from my mortgage broker who called the sales office today. They said the TCO is now expected in July with closings 30 days later – that potentially pushes closings to August. What does that mean for move ins? I’m assuming September. Sorry if you think I’m being too pessimistic, I’m just reacting on what I’ve been told. Trust me, I just want to get into the place, I’m in a studio with a year old child! Mucho fun. Been in contract since early April last year so I’ve heard it all by now. Wish I’d have seen through the BS back then. This is business to them, a potential home to us…” Meanwhile, the contract holder who sent us the tip a couple weeks ago saying he and 11 other buyers were about to be released from their contracts because Novo developer Shaya Boymelgreen hadn’t finished work on the adjacent public park by late June wrote to say he hasn’t seen Boymelgreen’s workers making any significant progress on the park. (Neither have we). With all the delays, he’s ready to throw in the towel. “Finding an affordable 3br apartment in Park Slope is a Herculean task,” he writes.” We are so disappointed with what has happened with the Novo as it had affordable 3br units. I believe now at this point we will start looking for a new rental and perhaps look at options outside of Park Slope or perhaps the city altogether.”
C-of-O Woes for the Novo? [Brownstoner]
Novo Takes a Nosedive [Brownstoner] GMAP
Good point about the taxes in NJ. I wouldn’t pay them no matter what, but hell if I’m going to be paying 20K, 25K a year once the kids are gone off to college.
And by that point, we’ll want to be living back in the city, but prices would be so outrageous 15 years from now, that we’ll never get back. I’d prefer to hunker down now, buy a place (we just did!) and enjoy the fruits of this wonderful city.
2:03 – what you didn’t mention is that most of the 32 sold in 07. now who’s the idiot?
32 units sold out of 59 means sales aren’t going well, 1:49?
uh…sounds like the other commenter was right. you really are an idiot.
Does it matter if Argyle looks as good in real life as it does in the rendering?
Yes. Of course it does.
You don’t get to live in the computer model.
“in contract since april” – it’s barely june. i bought new construction in cobble hill 3 yrs ago and was delayed over a year. but it was worth it. this is nothing.
It’s not Gowanus. It’s Slope Gardens.
Sorry haters – I am all for honest disclosure etc… but the east side of 4th Ave at 4th Street has been Park Slope forever (maybe not the most desirable part – part PS none the less)
If we had to pay NJ or Westchester property taxes we’d have no way to also pay for private schools if we ever needed it; we’d have to keep a child in public school even if say, we didn’t like his teacher or he started having problems in school or hated the kids there. It’s not even having that option that would bug me. Also once he graduates from high school we’d still be paying huge property taxes PLUS college tuition at the same time! GULP. Just try to tell me how that’s such a big bargain, NJ people. For real. 18 years from now with the massive inflation on college tuition we’ve been seeing and which will continue, it will cost half a million bucks to send a child to an ivy league college. Nobody wants to pay huge property taxes their entire lives on top of that debt well beyond the time their kids are in the local public schools.
12:33 is proof that argyle sales are not going well. only a struggling broker for that project would have nerves that raw. if they don’t want you to know it’s in gowanus, why do they say park slope?