C-of-O Woes for the Novo?
Will anyone ever move into the Novo? We often get emails asking about the status of the 4th Avenue condo, which has been under construction for quite some time now. A reader recently sent us the following note, for example: I heard from an employee of the parks department that the city is holding up…
Will anyone ever move into the Novo? We often get emails asking about the status of the 4th Avenue condo, which has been under construction for quite some time now. A reader recently sent us the following note, for example:
I heard from an employee of the parks department that the city is holding up Novo’s closing until they finish the Terrapin playground. The developer was due to finish the playground for a May 12 ribbon cutting, but that date has come and gone. The new date is June 17, but I checked by today and no work was happening. The city is actually not allowing any further inspections until they are done. The building has a drop dead date of June 31 before it has to let its current contract holders out of their contracts. The developer will be mighty lucky if he makes this date it seems.
Parks Department spokesperson Phil Abramson confirmed that the ribbon-cutting ceremony for Terrapin Playground, the section of J.J. Byrne Park that the Novo’s developer is supposed to rehab in exchange for having used the public parkland as a staging area during construction, is June 17th. Abramson couldn’t speak to the rumor about the city holding up the issuance of a Certificate of Occupancy. Last year Community Board 6 recommended that the city not give the building a C of O until Terrapin was finished. (The recommendation, like all community board motions, was ultimately only advisory.) While we don’t know whether June 31st is indeed the deadline for the building’s C of O to be in order so closings can occur, DOB records show that the department still hasn’t received many of the documents it needs in order to grant a certificate. For example, the DOB needs to get documentation showing that the building complies with DOT regulations, and that the Novo’s sprinklers and elevators are in working order. Read on for the full list of the things that are standing between the Novo and its C of O…
Novo Takes a Nosedive [Brownstoner] GMAP
Terrapin Playground Reopening in May? [Brownstoner]
Hey 7;54 I am one of the people who commented on how ugly the novo is. I happen to live in a really awesome and beautiful brownstone. It’s so easy to judge people on a blog is’nt it.? And by the way NOVO is a building and not a person.
We too bought in March and are anxious to move in, comments about the outside aside. Would love to stay in touch on this and perhaps get some real info from the developers. Anyone ever talk to them vs the know-nothing brokers?
you guys sound like you’re f*cked.
Because it is an amendment, it is automatically substituted for the original, it does not have to expressly recind the original.
7:58: I see in the second amendment where it says the anticipated date of completion would be July 1, 2007, but that doesn’t recind the original language of 18 months post January 1, 2007. Only changes a completion date. Ambiguous language? What a surprise!
Thats the only way I know how to check. Also, for those people they don’t just need the tco by june 30, they need to have their first residential closing by that time.
I don’t trust the streeteasy numbers. We went to contract on March 13, but our apt shows as 6/20 in streeteasy. The Novo did a lot of business in Feb/Mar last year. Lines where long and lots of contract seemed to be signed.
According to streeteasy, only 7 people went into contract before the amendment, I wouldn’t worry to much about a sell off, you still cant find anything in this neighborhood in this price range.
i would rather live in a million dollar brothel personally.