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
1:03 is a renter for life.
he would have probably said the same thing about park slope in the 70’s when you could buy a brownstone for 100K.
Sorry, but I have to laugh at the concept that a bunch of drywall on 4th ave is considered park slope. There is always someone willing to take everyone’s money and give as little as possible in return, and it is a shame.
I heard a that the yellowcab depot was in discussions with a developer, we’ll see who will be the sh*theads in the next few years.
“Does anybody believe Argyle will look as nice as the rendering?”
Does it matter?
I believe Argyle is just about 60% sold, if not a little less. The building has 59 units total, and according to streeteasy, 32 units are in contract. Streeteasy does not reflect to the total units to date, it’s likely that the developer has not released them all.
Does anybody believe Argyle will look as nice as the rendering?
It must really suck to watch the apartment you spent too much money on, that is across the street from a yellowcab depot, that’s not in park slope(even though you ate the bullshit they served you), go down in valueand become of the laughing stock of brooklyn over-development and you can’t even move in…good job shitheads!
(Prices have PLUNGED in N.J. and Westchester. While a significant number of people are reluctant to leave the city, I think that when the price disparity is considered, and the better schools and already built parks, many more people are going to be “looking for options outside the city.”)
Exactly. At some point the price different matters. So you can’t walk the the subway and the store. Ride a bike the commuter rail and the store instead.
When they passed a retirement at age 55 instead of 62 for teachers, sucking all the money out of the classroom, that was the cue to run away.
Argyle is 70% sold.
It’s also a far superior design to anything else on 4th Avenue.
Goes to show that quality sells.