building at 125 North 10th Street

I am a unit owner and love the building. I would be happy to talk to you about it. Please email me at maggieleigh11@gmail.com.

Thom45: I'd be happy to chat about the building. Feel free to send me an email.
ena125north@yahoo.com

They say
WE'VE GOTTEN REAL!!

by knocking off less than 10%

StreetEasy History
05/07/2008 Listed in StreetEasy, already in contract, by Core Group Marketing at $675,000.
09/25/2009 Re-listed by Core Group Marketing.
09/25/2009 Price decreased by 7% to $625,000.

Today they said it is 20% off. I posted on the other wmburg thread my personal view that the interior units are kind of like fishbowls arranged to stare at each other.

Most units priced in $700-800 psf range

dec 30 brownstoner reports more price cuts here:

"A 1,048-square-foot two-bedroom went from $754,500 to $649,000 and a 1,054-square-foot penthouse went from $1,100,000 to $945,000. The broker's website shows that 24 apartments are still available. Out of 86 total"

still overpriced

Best building in the area though.

Hi All,

I was wondering about the closing costs for this building. I was told they would be about 5% but that seems extremely high. I only paid about 1.5% on the purchase of my first apartment.

And it seems as though they are going to make a big push for me to use their our financing even though I already have a mortgage broker I am working with. I'd rather not go over my finances with their rep (which they indicated would be my first step towards making an offer). Doesn't that seem like a conflict of interest when I am trying to negotiate a fair price?

Does anyone have any insight or been through this process?
I like the apt but the particulars seem a little sketchy.

Thanks!

I live in the building, and I used a different mortgage broker, so my guess is if you insist on using the one you already have, they ultimately shouldn't object. I guess they are trying to push their mortgage broker because she is very familiar with the building and the process. I don't see this as a conflict of interest for your negotiations, and nothing is sketchy about the building.
About the closing costs: 5 percent seems about right, and, as I am sure your broker can confirm, this is pretty normal for a new development where typically the buyer has to cover the sponsor's closing costs like transfer tax (of course you can try to negotiate that). Your first apartment was probably no new construction.

what kind of discuont off their listing prices do they seem to be offering potentially (i mean on top of the discount they already offered)...their main competitor is 80 met i guess, which has half the place yet to sell, and so willing to discount i think....or 70 berry maybe, altho it is less amenity-laden, and cheaper

Take a look at the units sold and the difference between ask and closing prices. This will give you a pretty good idea. My guess is that the units that sold at close to ask were in contract before real estate dropped.

out of 86 units, 43 sold, 5 in contract, 19 for sale. where are the missing 19 apartments?

as for the questch about conflict of interest, um yeah it is. they railroad you into buying at the exAct price you can afford and not a penny lower. and they can do that because they know exactly what that number is.

Hi - I am looking to purchase in the building and would liek to know if there are any problems seen yet by other purchasers in terms of contruction or anything else.

Thanks

I've experienced no major issues. Obviously there have been minor hiccups as the building has filled up, as inevitably occurs, but overall it's a great building. And a great location, location, location within a great and vibrant neighborhood.