Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I get the building them and they will come mentality but come on! Why don't these developers have joint ventures with businesses? There is nothing in that area that would attract me as a home buyer. As an investor maybe, that's a BIG MAYBE. But then I would have a hard time renting it out.
Beautiful apartment but why start at the top like that? IMO the area doesn't warrant it yet.
I mean people just want a decent place to live for a livable price.
I get the building them and they will come mentality but come on! Why don't these developers have joint ventures with businesses? There is nothing in that area that would attract me as a home buyer. As an investor maybe, that's a BIG MAYBE. But then I would have a hard time renting it out.
Beautiful apartment but why start at the top like that? IMO the area doesn't warrant it yet.
I mean people just want a decent place to live for a livable price.
What you fail to realize is that building properties is EXPENSIVE. Land is EXPENSIVE. Then there are all the regulations imposed by the City for revenue and "safety" purposes. In order for any developer to actually turn a profit, they have to market the property as luxury, or take tax breaks that allow for affordable housing. There's really no in between anymore.
Developers are running a business just like everyone else. The goal is build as fast as possible (the longer a project takes, the more money the developer loses), sell the apartments at the highest price possible and then move that money into the next project and pocket whatever the profit is.
Adding some perspective the building is close to transit and has reasonable HOA fees. Link
List prices are cheaper than similar new construction units in nearby Harlem.
It should have reasonable HOA fees because it is a condo. You have a virtual doorman. A Super can shovel snow and do the trash. What else are my fees paying for? Maintenance of the rooftop deck, the security system? Ok, cool.
When I mapped the area I didn't see a supermarket within walking distance. That is an issue to me. Might not be for some. Yes a short walk to...since when does the 4 stop at 138th Grand Concourse during rush hour. The walk to the 6 is short but there isn't anything during that walk. Zero shops. I would be paying all that money for what? Where is my quality of life in the apartment only?
It should have reasonable HOA fees because it is a condo. You have a virtual doorman. A Super can shovel snow and do the trash. What else are my fees paying for? Maintenance of the rooftop deck, the security system? Ok, cool.
When I mapped the area I didn't see a supermarket within walking distance. That is an issue to me. Might not be for some. Yes a short walk to...since when does the 4 stop at 138th Grand Concourse during rush hour. The walk to the 6 is short but there isn't anything during that walk. Zero shops. I would be paying all that money for what? Where is my quality of life in the apartment only?
Hopefully by the time sales start business open.
A lot of East Harlem is the same way. If the banks aren't willing to invest and lend for businesses to open there then there you have it. You want the shops but you need people with high incomes to afford the shops and amenities and that takes time.
What you fail to realize is that building properties is EXPENSIVE. Land is EXPENSIVE. Then there are all the regulations imposed by the City for revenue and "safety" purposes. In order for any developer to actually turn a profit, they have to market the property as luxury, or take tax breaks that allow for affordable housing. There's really no in between anymore.
Developers are running a business just like everyone else. The goal is build as fast as possible (the longer a project takes, the more money the developer loses), sell the apartments at the highest price possible and then move that money into the next project and pocket whatever the profit is.
No I get it, but I would like to see actual list of tenancy of these luxury buildings. Buildings that have taken space away from other people whether it be low income, middle, moderate.
Plus I don't want to just see luxury buildings bring the businesses with you. The Bronx has waited too long for this and now that the ball has started rolling that middle step of building the community HAS been overlooked and ignored. There has to be a balance. I live here and I don't see it.
And just because I moved here in the last year doesn't mean I wasn't watching the market. The Bronx WAS always MY safety net and to see it at this weird standstill yet moving forward is sad. I was 23 when I left. I'm 40 now. To see virtually the same sight is sad when so much else of NYC has changed.
I get the building them and they will come mentality but come on! Why don't these developers have joint ventures with businesses? There is nothing in that area that would attract me as a home buyer. As an investor maybe, that's a BIG MAYBE. But then I would have a hard time renting it out.
Beautiful apartment but why start at the top like that? IMO the area doesn't warrant it yet.
I mean people just want a decent place to live for a livable price.
you might have to go and visit the area, a couple of restaurants have opened, some bars and coffeshops, its not that desolated as you suggest.
I don't think this is an unreasonable price for a brand new condo within 15 minutes of Midtown. And when they say 15 minutes, it's not realtor speak, it actually is 15 minutes (well, maybe 20). But still, that's worth big bucks. The presumption is the area will develop in time.
No I get it, but I would like to see actual list of tenancy of these luxury buildings. Buildings that have taken space away from other people whether it be low income, middle, moderate.
Plus I don't want to just see luxury buildings bring the businesses with you. The Bronx has waited too long for this and now that the ball has started rolling that middle step of building the community HAS been overlooked and ignored. There has to be a balance. I live here and I don't see it.
And just because I moved here in the last year doesn't mean I wasn't watching the market. The Bronx WAS always MY safety net and to see it at this weird standstill yet moving forward is sad. I was 23 when I left. I'm 40 now. To see virtually the same sight is sad when so much else of NYC has changed.
As I said there's no in between anymore. Given all of the rezoning being done by the City and endless regulations, developers have no choice but to build luxury, otherwise it isn't worth it. The City knows this and that's why they've been trying to sweeten the pot with these tax breaks. The problem is not everyone has luxury pockets to afford these prices in addition to the lack of amenities but these developers are building for tomorrow and expecting people that are being priced out elsewhere to move there and take a gamble and hope that the shops, etc will follow.
those are in the immediate vicinity, not much but its not that bad.
and the are big projects coming to the area this year and next.
With the exception of Ceetay the others are across the underpass/expressway. But fine, this is a start. I mean everyone wants a coffeehouse and bar. I still would like to know if everyone moving there is just shopping at Trader Joe's in Manhattan or is there a secret supermarket for Mott Haven Residents only?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
