Condo of the Day: 957 Pacific Street, #301
This one-bedroom at 957 Pacific Street (aka Hello Living Sydney) initially sold in 2008 for $468,468. While distinctly un-New Yorky, the design of the building is pretty cool, we think, with concrete floors, large front terraces and exterior public stairs. This apartment has about 750 square feet and is asking $500,000. Seems a little steep…
This one-bedroom at 957 Pacific Street (aka Hello Living Sydney) initially sold in 2008 for $468,468. While distinctly un-New Yorky, the design of the building is pretty cool, we think, with concrete floors, large front terraces and exterior public stairs. This apartment has about 750 square feet and is asking $500,000. Seems a little steep to us for this location at this time, but looks nice!
957 Pacific Street, #301 [Triumph] GMAP P*Shark
For the sake of Clarity:
A judge recently ruled that all pending sales are to be seen through to completion, so any sales mentioned in the NYT article are being completed or have been at this point.
Developer and investors have settled out of court.
There are no suits between the current owners/tenants and developers. Relations on that lever are very very good.
not only that but i think there is some sort of issue with water issues that the tenants are suing the developer for. not sure of the specifics…too bad. they do look interesting but i bet they cheaped out in some of the wrong places
holy crap. The bank should sue the investors, they’re trying to defraud the mortgagee basically. either the bank or the buyers. the investor’s lawsuit is clearly frivilous, and constitutes tortious interference with contract. its text book.
Thanks for the link, Newel. That does suck for the buyers. In light of all of this, I think this property may sit on the market for a very very long time.
Thanks for the link, Newel. That does suck for the buyers. In light of all of this, I think this property may sit on the market for a very very long time.
Are the Hello Living people in lawsuit with SanRio? the Hello Kitty people for copyright infringement!? Hello Kitty, btw, would never live there.
*rob*
Yes this is the same developer with the lawsuits; the local developer’s European investors are suing him. Here’s the article:
http://www.nytimes.com/2010/02/13/nyregion/13hello.html
Sounds like a pretty sad story for everyone involved, although I don’t feel bad for the investors. Part of making an investment in a speculative development is risk; it’s contemptible for them to tie up individual home-buyers in a lawsuit because they are losing money in a downmarket.
Its also unfortunate because these buildings seem to be some of the only creative and well-designed new developments in Brooklyn, a breath of fresh air from the Scarano and Carl Fischer crap all over the place.
What’s the lawsuit about? Are there structural issues with this particular “Hello” building?
yeah i heard the same thing…..the developer is undergoing a lawsuit from the tenants