Bronx luxury condo - the Orion on 156th and 3rd ave (Union: foreclosures, insurance)

[Pop24]

Call Procida up. July/Aug, yes i know this for sure. some may close in mid July and some will close in Aug. please feel free to check the NYC Dept. of Buildings web site DOB Building Information Search
On line 15 enter this number in box. 200970707.

[jts2003]

Originally Posted by Pop24

Call Procida up. July/Aug, yes i know this for sure. some may close in mid July and some will close in Aug. please feel free to check the NYC Dept. of Buildings web site DOB Building Information Search
On line 15 enter this number in box. 200970707.

I have e-mailed Ms. Sloan at Procida to see what she says. I have been looking at the dept of buildings website and it gives no indication of when we will have the C of O. Just last week i was told it was still closing in June.

[jts2003]

Originally Posted by jts2003

I have e-mailed Ms. Sloan at Procida to see what she says. I have been looking at the dept of buildings website and it gives no indication of when we will have the C of O. Just last week i was told it was still closing in June.

Well she just e-mailed me back and she said that they expect the TCO next week. But i have heard that before. So i will wait and see what really happens.

[Mr.Triny33]

Hey everyone, I'm new to this site, first off i'd like to offer congratulations to all who have purchased a unit w/ the orion. I'm sure this is a very exciting time for all of you. I'm born and raised in the bronx, and recently I purchased a unit with the Aurora Condo just up the block from the orion, I recently received a call stating that all closings and occupancy have been pushed back till the fall, so i'm in wait and see mode. Could you guys offer me some insight as to how long the process was for you, from the time you applied till closing, I started my process last October. Thanks for any and all input.

[Guywithacause]

Hey Trinity...congrats on the purchase! What unit did you get (# of bedrooms that is)..and did you get one that is subsidized or market rate? What did you pay in total.

[Mr.Triny33]

Thanks Guy, I purchased a one bedroom, 682sq feet, yeah I know, small, LoL, but it's a start; which is what I was looking for. The unit I purchased is a subsidized unit, my sale price was 203,000. I put down 7%

[Guywithacause]

Nice...were you able to get financing reasonably easily....? I dont think that is a small apt..its actually spacious by Manhattan standards! So at the end of the day..your mortgage is about $192,000, and with 30 year mortgage fixed at 6.25% (just a guess), your payments are about $1,150...what were the common charges and taxes?

[Mr.Triny33]

That's a pretty good guess, pretty spot on, although I didn't lock into any rate, so with the delay the rates can go up or down, it's a crapshoot, just like gas. I was able to get financing pretty easy, I went with citimortgage which has fixed rates anywhere between 6 and 6.3% plus they offered me 6,000 towards my closing cost, couldn't beat that. Can't remember the tax charges, have to check it over again, but my common charges are $295 a month. Kinda steep, but it is NYC.

[jogrant110]

Congrats Mr. Triny33

I too was called for the reduced units at Aurora and submitted all the financial paperwork and was pre-approved for a SONYMA mortgage due to my services with the Navy and I don't know what happened. I was sure I'd get an acceptance letter or at least be shown a unit. But all I got was a full voice mail and/or my calls were never returned.

If you don't mind me asking, what is your ethnic make-up? It appears to me they do a lot of red lining to weed out the Blacks/Hispanics in these so called below mkt rate condos. I know so many folks like myself with steady employment, great credit, enough cash for the down payment and being pre-approved for a mortgage and still being denied a chance to get one of the affordable units.

Just to the left of Aurora...right behind the police pct, Boriqua College will be building this massive low income development sort of like modern day housing projects. I'm sure that new development will do wonders for increasing your equity in your new home. There's also talk of moving the police pct further uptown.

[Mr.Triny33]

Thanks JoGrant, I'm a Latino. When I sent in my initial paperwork I was called back rather quickly (about 10 days) and asked to provide additional paper work. They probably do try to weed out who they want and for what units, I remember I inquired about a 2 bedroom, but was quickly told that 1) I didn't qualify and 2) they wanted to make sure they had 2 bedroom units for families of 2 or more, as it turns out I probably would have had a difficult time with the mortgage on a 2bedroom. I've heard about the Boriqua College development, but didn't know about the Police pct possibly moving, thanks for the info, and i'd like to add I went to one of there open house showings in Feb. and was really impressed with the work they've done, all the units come with refrigerator, dishwasher, stove, and bamboo floors. Can't wait to finally get the call to close