long wait at Oro...
…for the closing date we’ve been promised. Curious if any body out there has any word on when they plan to start moving people in. Keep getting promises of “updated info” on the way from the bldg…and yeah, I already got plenty of flack for buying into this neighborhood 🙂 Like everything else, it will…
…for the closing date we’ve been promised. Curious if any body out there has any word on when they plan to start moving people in. Keep getting promises of “updated info” on the way from the bldg…and yeah, I already got plenty of flack for buying into this neighborhood 🙂 Like everything else, it will change some day!
respinosa-
I’m completely on your side. Real estate speculation is one thing, but an outright communication breakdown on the part of the developer is ridiculous. I am all for entering into a cooperative breach of contract front. Do keep in mind that there is no clause in the contract. Also, streeteasy seems to have a more active discussion. Please let me know if you are able to make any headway. I signed a contract over a year ago and I’ve not had a good year as a direct result of all of this.
Hi,
There is another discussion board on easy street – http://www.streeteasy.com/nyc/talk/discussion/4468-oro-condo-delays
We’ve been in contract since JUNE 07. This is so frustrating. I was told that they have to close within a reasonable time period or they are in breach of contract. We were told they were going to start closing MARCH 08. I’m going to wait another 3wks if nothing happens I think we’re going to try an go the breach of contract route, on the grounds that 6 months is an unreasonable time to close.
From what I can tell there’s only about 5 of us on this blog, wish there was a way to get the word out to more people. I’m curious to see how the rest of the people in contract feel about this.
SH-
According to my lawyer, there is no out clause. Could you please let me know what section you found that info in? Thanks!
I need to check my contract but I believe my out clause is either a year and half or 2 years from the time I went into contract. Is there anyone out there who signed their contract in Feb ’07 when sales began? In which case, when is your out clause coming up? I have a feeling they will make their final decision whether to go rental or condo right before those out clauses are due to come up. Until then they are hedging their bets. The building is clearly done. Originally they said they were ahead of schedule and thought they would start closing in Feb/March. I thought that was aggressive, but now it is August and we have had no real information from the building. I think more people need to express their frustration and perhaps as a group we can figure out what is going on. Thoughts?
Didn’t realize any one had been strung along quite so long.
Do you know any one else in the same boat? I wish we could get a group of others in contract w/ Oro together and see what options we can come up with. I’m running out of time here in this apt., I may need to start looking @ other places. This sucks.
It should be noted that “soon” is coming from the attorneys. My realator directed all of my questions to them sometime around May. As far as concrete answers go, there are none. My lawyer gave them an ultimatum to give me a closing date or give me my deposit back. Once the deadline rolled around, they held onto the money and informed me that I was out of luck. Regretfully, I signed a preconstruction contract that never included a closing date. That was my mistake. But I thought that after this long, refunding me would not be out of the question. The option to sue is viable, but I’m not into losing more $5-$15K more than I originally put down. Now, I could be wrong, but I believe that they might have lost the tax abatement for this year due to this gargantuan delay.
Worst. Flagship. Ever.
How about a class action? How do we hook that up?
A year?! Damn, I had no idea. I’m going on 4 months. I kept hoping that one of these posts would flush out the rest of the people who were in contract, and maybe as a group, we can get somewhere. “Soon” doesn’t cut it anymore and I need answers. Does any one know any one else who bought there?
jw10003-
I also made the same mistake and I have been getting the run around as well. As far as I’ve heard there is no end in site, unless you consider “soon” acceptable. Our down payments should be returned to us. It’s been over a year since contracts were signed. This is too much.