Mason Fisk sucks!

nina100,

Can you go into further details?

I'm also interested in more details. Everything I've read about this development recently has been very positive. Although the Times article this weekend did allude to some outbidding that occured. Did that happen?

"In Contract" don't impress me, "Sold" means a little something in this market. "Sold" and "Occupied" is my cup of tea but how often do you hear occupied? :o).

FYI!

http://curbed.com/archives/2009/05/04/williamsburg_development_updateorama_some_are_selling.php#reader_comments

http://www.brownstoner.com/brownstoner/archives/2009/05/signs_of_life_f.php#comments

mutombonyc, I partly agree with you - sold is more significant than in contract, but the media is more likely to report on this than closings, I think, unless they fall through in large numbers. I would guess that most people in contract now are well aware of what's been happening in the market and should have a good sense about their financing capabilities, so I would expect most of these to actually close. Time will tell though.

I am also one of the people they screwed last minute!!!!!
These people have no ethics
(if this word is applicable to the real estate world at all)
Sold the unit to somebody else the day we were supposed to sign the contract!!!!
Didn't even bother to ask us if we wanted to match the offer they received after we had an accepted offer!
I am waiting for karma or whatever hit them on the ass.

It's pretty amazing though that in this market the brokers/sponsors have the opportunity to act this way. This shows that with the right product at the right prices that people on the sidelines will come in, even in much maligned Williamsburg. I think this is a sign that once the bottom is hit and people realize it, they will flood the market.

Buy now or be priced out forever!!!

The last time a building had this kind of hype ("I can't believe it's doing so well!") it was the Flowerbox on E. 7th, and it's still only half sold after 3 years. The developers there flat-out lied about early sales and the media printed it all as fact.

Maybe I'm wrong, but this thread feels like a plant. Anyone else notice that neither nina100 nor bulbul have ever posted before?

tenemental, I'm a bit skeptical as well. I was pretty surprised to hear the building do so well so fast, though tina24hour has pretty much confirmed that this isn't just smoke. The layouts and pricing didn't really seem to make sense in this market, but what do I know? These posters complaining about accepted offers being rescinded need to provide more info if they expect to be taken too seriously.

bjw - I think you had to see the places themselves to understand it. These weren't selling on the merits of their floor plans.
I agree with LookPied about the right product at the right price. I don't agree, however, that this indicates that we have hit the bottom. I think 72 Berry connected with buyers for a lot of different reasons - not just price (see other 72 Berry threads if you want to hear me natter on about it).

Tina
(Brooklyn broker)

Hmm... don't buy now or be priced in forever!!!

I haven't posted before because I have life other than wasting away in online real estate communities. We've been looking for an apt for the last two months for the first time and mason fisk was a big blow on us. I follow this discussion because they hurt us. I have no intention to have permanent presence in sad real estate blogs.

I see, bulbul. Since Mason Fisk was such a big blow on you and hurt you so, I'd appreciate it if you would name the broker who did you so wrong so that those of us wasting away in this online real estate community can avoid this person in the future. Clearly you are upset with this person, it only makes sense to name him or her so that others here can avoid a similar heartache.

While you're at it, please let us know which unit you bid on it, what the asking price was, and what your bid was, including any concessions. This way, at closing, sometime in the distant future, we can check to see just how much the developer pocketed from your pain. Since this experience obviously made a deep impression on you, the information should be clear in your mind, and won't take more than a few seconds to note for us.

Thank you and best of luck in your pursuit of a home.

bulbul, are you there? I'm worried about you. It really might make you feel better to get it off your chest. Go ahead, let that awful broker have it, with specifics.

nina100, you too. It's bad to keep it all bottled up.

sure my pleasure;
The buildings sales agent was DEBORAH RIEDERS who promised, as my agent told us a 5 day exclusive window for us to sign our contract. We reviewed and send it back to them in 3 days. My agent was from Apt and Lofts ,I won't name him because I don't believe he was evil, at most incompetent. He was also conned by DEBORAH. I may work with my agent again once I shake this incident off of me.
We bid on Unit 5A ,the asking price was 575K ,we offered 530K with 21% down payment,they accepted it.
Any other questions tenemental? And what is your problem? What are you trying to prove?
What a sick environment this is.........
trying to pin us down because we criticize...

"trying to pin us down because we criticize..."

Actually, since I was also tryng to criticize them (in response to nina100's very suspect-sounding post), your defensiveness struck me as ingenuine. I'll make sure to remember that Deborah Rieders is not a woman of her word.

I feel your pain bulbul. The same exact thing happened to me but i eventually settled for another apartment then i originally offered on, but as my luck has it it turns out to be a better apartment. As much as i would like to call "the one whose name we shall not speak" very nasty things ive come to realize that it comes with territory; real estate is a whore of an industry and many people get screwed, and its usually honest people like you and me. I'm sorry to hear you had the same problem, but im confident that karma is a bitch and D.R. will get whats coming to her.

have closings started yet for 72 Berry? Is the building finished?

Mason Fisk, is supposed to be 100% sold :o).

sorry i did not post again, was busy looking for another apartment. This is not a suspect, sketchy post. I 100% got screwed by Mason Fisk after I had an accepted offer and was ready to sign the contract. They simply said " we had another offer in cash" and completely left me hanging. I was so happy and excited about my apartment to be, it was my first and I was crushed and still am. That is not a correct way to do business, it's unethical and cruel. Again, karma will bite this people back. BulBul, from what i heard it's not just you and me but a whole bunch of people that got screwed.

nina,

Its ok you will find another apt that will be more suitable for you.

Basic problem once again appears to be co-operating (what an oxymoron!) brokerage. They just didn't want to split the 6%. Go solo since there's , no need for your own broker the next time you find a place you like and hold their feet to the fire until you get the price you like.

nina100 and bulbul, wherever you are, I hope you're breathing a sigh of relief:

http://www.brownstoner.com/blog/2011/07/72-berry-all-that-glitters-is-not-gold/

"A motion by the defendant filed in March summarizes the history and substance of the complaints:

After the purchasers moved into the building and elected a Board of Managers in the fall and early winter of 2009, however, the Board discovered that the promises and representations made by the defendants were untrue in that the as-built construction and design of the building failed to adhere to the construction as specified in the building plans, Specifications Report, Offering Plan and applicable building and construction codes. The Board discovered that their building contained numerous, dangerous and expensive construction and design defects, confirmed by a forensic architectural and engineering evaluation of the building. Sponsor has also, upon information and belief, failed to file for J-51 real estate tax benefits.

We’ve heard tales of woe involving structural problems, leaks, lack of heat and more."