When Condo Investments Go Bad: Toy Factory Loft Edition
You know what sucks? When the condo you just bought sees all manner of water damage after it rains. It also sucks when a new development rises right next door to your condo, obstructing views. Both happened to a guy named Philip Henn, according to a story in the Eagle, after he bought a unit…
You know what sucks? When the condo you just bought sees all manner of water damage after it rains. It also sucks when a new development rises right next door to your condo, obstructing views. Both happened to a guy named Philip Henn, according to a story in the Eagle, after he bought a unit at Downtown’s Toy Factory Lofts in ’05. Henn, a Corcoran broker, is now suing Toy Factory developer Winchester Realty Group, alleging that the Toy Factory building isn’t waterproof. Henn is also angry that Avalon Bay’s 42-story tower is rising right next door to the Toy Factory, since the condo’s great views were one of its main selling points. It’s a little difficult to feel sorry for Henn, though, since the Toy Factory sponsor offered to buy his unit back at cost and the condo’s offering plan said the building’s views might one day be obstructed. Nevertheless, we’re sure it’s not out of the ordinary for condo buyers to be confronted with a lot of unforeseen surprises after they move in because of all the fine print in offering plans. Any readers have similar tales of woe?
Nightmare on Johnson Street [Brooklyn Eagle]
Photo by Scott Bintner for Property Shark.
“clique”
Courtesy of the Grammar Natzi.
“wall to wall views” – no misdescription, sounds like excatly what he got!
Brooklynnative you have to disclose that shit! Yep, that’s why I not going Real Estate now, these asshats gives Brokers a bad name.
The What
Someday this war is gonna end…
My last sentence @ 10:44 is with respect to not only my tale but, also, workmanship. Like software, let the bugs or kinks work themselves out (if they ever do).
“When Condo Investments Go Bad”
Wait a minute! I thought you “live” in a Condo? Well people are starting to come to the light. Pixie dust is wearing off, the suckers are holding the bag. Over 4000k a month for a “apartment” LMMFAO.
You knew you bought a piece of shit but, you wanted to be in the Metoo click.
Here asshats, please read this story. The fuck that house thing is picking up momentum. I told you people are NOT paying their mortgages and are tired of being debt- slaves.
Facing Default, Some Walk Out on New Homes
http://www.nytimes.com/2008/02/29/us/29walks.html?scp=1&sq=walk+away&st=nyt
The What
Someday this war is gonna end…
“Any readers have similar tales of woe?”
No. I almost did though. A tale of two brokers (both selling me condos in the Washington/Atlantic Cathedral): One (Mom/Pop brokerage) hyped up the off-street parking as a long term option. The other (Brooklyn Property’s Ian Smith) immediately implied that it was not necessarily long term. And now hindsight reveals that, indeed, the parking lot swiftly morphed into condos.
It’s best to buy “certified” pre-owned. Certify your investment with due dilligence.
I saw these when they were being built and noticed mold and flooding on some of the floors that weren’t open to the public.
Can’t feel sorry for this stooge. He was looking to flip at some point anyway, and got caught with his pants down. This sounds like a broker to avoid at all costs.
at least with a house you can fix yourself without the red tape.