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Anyone know what's going on with the galaxy towers condo in guttenberg? Looks like literally a civil war is going on among the residents there.
I looked at a few 800sqf 1br there in 2006/7, it was priced at around 300-350k. Now there are many 3br 1500sqf+ priced at 250k or less that's been listed for months. I know the market dropped, but this is still very odd as the surrounding buildings didnt take such a drastic hit.
Is the complex bankrupt or something? from my limited google search a few residents are saying the units there are essentially worthless due to the financial situation.
Lived there for a few years until 2006 and sold my 2BR just about at the peak of the market before it collapsed off a cliff. I cannot urge you enough to stay away from this place, it is an absolute disaster in every sense. There is corruption and incompetence throughout the complex. Those units will sit on the market for as long as the maintenance and taxes remain as high as they are with the little service/amenities you get in return. It would not appeal to young families because of the guttenberg/WNY schools and it would not appeal to the retired because the annual cost %s increase at such alarming rates.
when I was looking to rent, I didn't find the apartments in galaxy worth the cost. they wanted $1700+. There is a senior citizens center across the street that always has an alarm on when pedestrians can't cross the street (i guess to warn the senior citizens there) and the area was sooo dirty! maybe because it was after all the snow storms, but there was dog crap everywhere and guttenberg is a disgusting area.
The rents are high because the maintenance/taxes are so high, the owners have to cover their costs. I was paying $1700/month for just taxes/maintenance alone before my mortgage. The surrounding area is a bit dirty, the only value add is the commute and the city view.
These replys are not going to reassure the unit owner that purchased one of the penthouse units in November for $965,000.
The typical unit in that building is a 2BR with views for mid $200's. 1 bedroom units go for mid to upper $100's. There are some 3BR units also that sell mid to upper $300's.
The more expensive units have the better views of Manhattan and the Hudson.
I've appraised many of these units, very odd due to the octagonal shape of the building. A royal pain to measure and calculate the square footage with the obtuse angles.
Also unless you have a parking space, forget parking in the area. That little area right around the Galaxy rivals Hoboken for parking difficulty.
Units in this complex do sell, however. There have been 26 sales in the past 12 months. Typical days on market? 5-8 months. So there are definitely issues with getting a unit listed and closed.
It's surprising, given the prime location and the overall look of the complex.
I do believe someone jumped out of the building last year and landed right in the pool. Unfortunately for him it was out of season and the pool was not filled.
also the biggest problem of being a resident of guttenberg is the lack of area for parking! guttenberg is tiny! forget about parking in the other towns because you would not be a resident there!
Did someone really pay $965k for a penthouse unit there? That is absolutely absurd. I wouldnt buy one of the complete towers for that much, let alone just a single unit in it. The complex is deteriorating rapidly, there are leaks everywhere, the elevators can literally take 20 minutes to arrive, the financial standing of the condo association is horrific. Most reasonable banks would not even offer a mortgage after reviewing the financial statements of the association.
Friend of my wife's sister used to live in Galaxy and moved out couple year ago to City Place in Edgewater. Wouldn't get into detail except told us to stay away, it's a mess of everything and emphasized "everything". In addition to suicide, there was also 3 alarm fire last year and there is a 'war' raging on at least on cyberspace. Enjoy... GalaxyFacts: Mike Deluca living in The Galaxy Towers
Excluding these real, potential, or fictional problems. Galaxy has few things that's not going well for it for potential buyer. I was looking at Galaxy for renting or buying couple years ago and this is what I found...
- Parking is a serious problem if you don't have a spot. Traffic on river road side is one of the busiest and gets to be jammed up during rush hour (it's 3-way merge/split and there's two of them within 50 ft of each other)
- Building was built in late 70s so age is a concern.
- There is sewage treatment plant next to Galaxy towers and it does smell time to time.
- Top of the cliff Guttenberg/West NY area is more urban and gritty and probably not best of places to raise a family. Nearby towns offer more.
- There are choices available along River Road and on the cliff so there's a lot meeting similar requirements. High rise condo, older, similar price range, etc. Why galaxy is more of question buyer would ask.
I remember looking back a few years ago at the Galaxy when I was in the market to buy. I chose to wait and glad I did. Even when I was looking the Galaxy wasn't my first choice...plenty of similar places around Blvd E. in that area that offer similar amenities and cost less. The fact someone made a website about the galaxy shows that something with the building had to seriously tick him off.
The fact someone made a website about the galaxy shows that something with the building had to seriously tick him off.
If condo/coop is large enough, there is usually someone who would go to that degree. Admiral's Walk in Edgewater have similar person who has a website and very vocal about poor and gulag (his opinion) state Admiral's Walk is in.
Does say something though~
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