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]
This is the original tipster again. We went to contract last March which is why we would have the June 30th date. Any way of knowing how many of us went to contract before April 9th? I am still afraid there will be a big dropoff vs 80 units sold as of today.
It was the second Amendment to the offering plan, Amendment dated April 9th, 2007. Its says that it is changing the building completion date from january 1, 2007 to july 1st 2007. So the 18 months would begin from july 1 2007.
I hope you are correct 7:58P. What amendment was that?
“I’d rather live in a tenement than a dormitory. A million dollar dormitory at that”
Let’s be real here..
I (and I’m sure many) would rather live in a million dollar dormitory than a tenement. A million dollar dormitory that is completely brand new at that…new kitchen, new bathroom, washer/dryer, blah blah blah, you get the idea.
Place is atleast 70% sold to date.
The above information is incorrect, I am a contract holder at the novo and checked the plan. Anyone who purchased an apartment after April 9, 2007 will NOT have the right to rescind their contract on June 30, 2008. There was an amendment that was addeded by referance on this date and pushed the completion back 6 months. So the Drop dead date is more like the end of december.
To those who call the NOVO so ugly
I’d like to see what lovely digs you live in *NOT*
It’s always so easy to criticize others isn’t it?
Isn’t this place like only 40% sold?
BTW, crime in park slope is down this year over last.
3:59=lunatic with down payment but waiting to buy, throwing away money on rent
while i’m not one of the buyers at the novo, i think their investment is going to be just fine, thank you. congrats, and i hope you all get to move in real soon.