New condo?
Hi, Has anyone here bought one of the new condos in Park Slope (on 4th ave./between 4th & 5th)? I’ve been very wary of them, but I’m wondering if I should consider them more seriously. One that seems good on paper is the Elan. Does anyone have any advice on this (what would be a…
Hi,
Has anyone here bought one of the new condos in Park Slope (on 4th ave./between 4th & 5th)? I’ve been very wary of them, but I’m wondering if I should consider them more seriously. One that seems good on paper is the Elan. Does anyone have any advice on this (what would be a total red flag, in your opinion/experience)? Would you avoid it no matter what? Schools are also an issue for us, and I’m concerned they’re going to re-zone all these new condos in the next few years. Thanks very much for any advice!
Please don’t mention Elan to us. We saw a lot of condos but Elan was the only one that made us laugh outloud. I think the architect that designed it was drunk or they just payed $20 to some guy on a subway to design the units. How does a tiny bedroom in a middle of the living room sound? If you think that’s impossible please visit Elan. Not a single straight wall. Bathrooms that have corridors with 4 turns. Impossible? Visit Elan. A classic example of how not to build.
I learned from a friend some of these Park Slope condos are offering rent-to-own leases because sales are slow. You can see if you like the building and the unit and how well it’s run first before you buy.
what eman said. Follow the discussions that are taking place here (on Brownstoner) about condo’s. I would be very very careful buying a new construction condo at this time. I know nothing about these particular ones but some look very good on paper/offering plan and in reality are not. One condo owner posted a forum story a few days ago how the management company was in cahoots with the builder skimming the other condo owners. You hear these horror stories more and more.
If you’re set on it, make sure that most apartments are sold, board is created, and Management Company is hired by the board (not the developer). Have your lawyer check over ALL of the paperwork with a fine pen and maybe someone on here with more expertise can comment on how to figure out if the condo was built well and structurally sound.
they are all built like crap, have artificially low condo costs as teaser rates, and will be hammered by huge tax increases in ten years when the j51 tax abatements expire… and the managing agents are probably in bed w/ the developers, so dont expect them to represent your interests..
Sorry my post was confusing– I meant to say those on 4th Ave. (like the Novo, the Crest) and those between 4th & 5th ave. (like the Elan on 1st street).
4th ave btw 4th and 5th is only the Novo, right?
Are you speaking of all 4th ave or only the Novo?