Come On and Take a Free Ride (at Northside Piers)
As Curbed picked up on yesterday, The Real Deal reported that Toll Brothers is now offering potential buyers at its Northside Piers project on the Williamsburg waterfront a free ride for the entire first year. That’s right, the whole kit and kaboodle: Mortgage payments, common charges and real estate taxes. The offer’s good through the…
As Curbed picked up on yesterday, The Real Deal reported that Toll Brothers is now offering potential buyers at its Northside Piers project on the Williamsburg waterfront a free ride for the entire first year. That’s right, the whole kit and kaboodle: Mortgage payments, common charges and real estate taxes. The offer’s good through the end of August. Too bad the days of 95 percent financing are behind us!
Whether or not it’s a protection plan, you’d have to REALLY want to live at NSP to take advantage of what is quite clearly a desperate situation for this developer.
Anyone who buys new construction in Williamsburg should be fully aware at this point that it could very well be 40% cheaper in a year.
I wouldn’t touch it with a 10 foot pole.
Obvi.
DH, the way I understand it, the press release from last week is different from the protection plan. It is a free year as of right. The protection plan is old news and needs to be removed from the web site. However, I imagine a call to the broker would clear this up.
I meant misleading as the way it’s referred to in the original article
This posting makes it sound like you get a year free mortgage payments just for buying a condo – when infact it’s a protection plan ( a useful perk)
it’s really clear on the NSP website – not so much in any of the websites that have picked it up.
DH – I think you’re referring to the “protection” plan, which they put in place a while ago. This is a new “plan” for which you must “buy” an apartment by August 31 to qualify. The full press release is here: http://www.prlog.org/10268159-home-buyers-can-live-free-for-year-at-northside-piers.html
Not misleading, but also probably not really a “deal” – http://www.brooklyn11211.com/11211side/2009/06/free-condos
So in order to get a free year of mortgage payments you have to buy a place at NSP and do one of the following
A. Get fired in one of the worst job markets in years
B. Get really sick and stay in the hospital, not your shiny new waterfront condo
C. Kill your wife
What an incentive!
LOL am i the only one who thought this was going to be about taking a ride on their elevator!?
*rob*
DH. Aaaargh! I was actually interested. I am so full of loathing. Those dirty scammers are going to resort to MORE fine print?
I hereby withdraw my interest in Northside Piers. May it crumble into the east river to be carried out with the tide.
Misleading
“One less thing to worry about. Receive 1-year free coverage when you buy a home at Northside Piers. Plan covers up to 12 months of your mortgage payments if any of the following were to occur: Involuntary job loss (e.g. lay-off); illness or injury resulting in disability; hospitalization (for at least two consecutive nights); you or a protected co-borrower pass away.”
poor ole billyburg