Tale of Woe at the Novo
A reader forwarded us this distress call to the Park Slope Parents list from a Novo buyer. Maybe someone has advice for her? My husband finally did a walk through with a contractor and found many items that needed to be fixed. They made a number of small repairs while he was there, but their…
A reader forwarded us this distress call to the Park Slope Parents list from a Novo buyer. Maybe someone has advice for her?
My husband finally did a walk through with a contractor and found many items that needed to be fixed. They made a number of small repairs while he was there, but their representative said they would not fix a number of items (one of the floorboards is a very different color than the others, one tile is cracked, noticeable scratches in the railing on the balcony that the contractor said could be buffed out, a fairly large chip is missing from the wood part of the guest bathroom medicine cabinet, numerous scratches on the balcony door and a window frame, etc. etc.) that she acknowledged were problems. We find this to be an issue because they could potentially impact the re-sale value of the apartment. She asked my husband to sign a document saying we found everything in good condition. My husband pointed out that there were several items which were not in acceptable condition, and she responded that she would not add them to the list, and pressured him to sign the document anyway. When my husband told her he would speak with me and get my input and then get back to her, she said this was unacceptable. In short, it did not make sense to me that we were purchasing something new that had obvious problems that the representative acknowledged but would not fix. We don’t understand why they would acknowledge problems but simply say they would not fix them. Any thoughts or advices?
Anyone else had a similar experience?
Novo photo by Slice.
Folks;
I’m jumping in again because there is some mis-information going on here (specifically sjtmd’s post). As I mentioned in my original post, it takes time for the tax abatement to go through after occupancy. In the case of my condo, it took about 9 months. When it does go through, however, it is applied retroactively, and you receive a refund for the taxes you paid prior to the abatement being official. Hence, in the end, the delay does not cost you anything.
I also just bought in a new condo building, and would recommend getting everything fixed BEFORE closing. Once you sign, you have no leverage for anything. If the developer is not going to fix everything on your punchlist, that needs to be documented and compensated. You definitely need a good aggressive lawyer – preferable one with experience in new developments.
Fortunately, my developer has been good about fixing things that have come up after closing, but I don’t think all developers are like this. I’ve heard of new developments in Park Slope flooding because of poor construction – be very thorough in your walk through.
My wife and I have visited The Crest (a new condo building one block north by the same developer). We have seen the units in the last stages of construction. The work appeared shoddy at best, but it seems most if not all the problems were superficial (as you mentioned) and should be fairly easy to fix. The bigger issue, mentioned above, is the incredible mystery sorrounding the 421a tax abatement. The Corcoran agent would only state that the application is in progress. Nothing more. Further e mail requests only led to several dead ends – attorneys, accountants who were never available and never return calls. Contacted the tax dept. – they only have the preliminary application at the time construction started (10/19/06) – nothing else. In summary, whatever money you might have to spend to fix these minor problems pales in comparison to the taxes you will be paying for a “tax abatement” condo. Good luck.
Ethan and all;
I live in a BG building quite close to the Novo. Don’t let the naysayers get you down. I bought into my building when it was new, and we had quite a few issues, but he eventually made good on them. It takes a lot longer than you’ll be happy with, but it turns out alright. In fact, he’s still working with us to resolve some issues, even though he long ago sold his last unit in our building.
What I would advise you is to document all the punch list items at the time of closing. As someone suggested, demand an escrow account to make sure he is on the hook. You have to be persistent with them to make sure they follow up. They do not react well to threats of a lawsuit, and I would discourage that tactic unless you really do want to go to the mat with them. Note, however, that Boymelgreen can outlawyer almost anyone.
As far as the tax abatement, it took almost 9 months after we moved in to receive it.
Good luck! Remember that buying a new building is not like buying a new car. There WILL be issues, and it usually takes 2 years to iron the kinks out. Enjoy your new home.
I bought a unit @ the Novo. There were little things to be fixed but didn’t make a big deal.
I’ll tell you what I am worried about. @ the closing I asked what’s going on with the tax abatement. The Novo’s attorney didn’t know (didn’t care). I made a few phone calls (I am from the business). Turned out they don’t even have a preliminary certificate yet. (This isn’t good – 3 years after with no certificate). I am sure we are going to get hit hard with high taxes (once finance dept. reassess the building – again I am from the business).
Check your schedule A for : taxes without abatement and multiply by 1.8. That would be a more accurate number.
On a more joyful note – despite what others think, this is a good building in a good area (Its not 7th and 9th street but it is a full amenity building.
I’m not dissing new construction and I certainly fall into the category of people who are buying for value and can’t afford the super-high end developments. WHat I’m saying is that Boymelgreen is a bad developer. Buying in this building was a mistake. I’m not trying to make anyone feel bad – I’m offering them advice. The current experience is just the tip of the iceberg. I feel confident that if the current buyer goes through with this and closes, he will soon realize that his problems run much deeper than a chip on a bathroom vanity. By refusing to fix valid complaints on a punchlist, the developer is actually doing you a favor. You can now go to your lawyer with valid grounds for demanding your deposit back. Get out and buy from a more reputable developer and thank your lucky stars.
I hear what you’re saying wine lover. But big chip on a brand new cabinet? You don’t to be a refined aesthete to know that’s damage. And a contractor telling a client it’s unacceptable for them not to sign off on condition? No way. The contractor is a little too pushy -pressure like that gets my antenna up.
really, 2:12 is right. for many, a combination of psf, size of apt, location, etc… limits the amount of apts that a person can consider. even though there appears to be so much inventory, many times there aren’t a lot of choices. this leads to compromises.
i think that this person can put everything into writing, and get them to agree to fix it.
our condo bldg had many issues – but we worked with the developer to get solutions.
sometimes, the developer is unaware of personnel changes even with their contractor, and it is likely that nothing will be perfect.
with that said, i would advise all buying new construction to hire a real inspector. we did and the guy was terrific – he helped us to get some interior things fixed, and also gave a great review of the overall construction.
there’s a lot of people on this site who are quick to dismiss the construction of new condos with no real information. just because there may be some issues with the interior finishes, does not mean that the construction is bad. sometimes it not the same crews on the whole job. the other thing to remember is that the some of the laborers doing the interiors may not have the same aesthetic sense that you do. just deal with the punch list and get it all fixed.
Yes, Park Slope West – that’s much better. Let’s just never ever use Go Slo ever ever again, ok? Promise?