Anybody have any thoughts on the condo conversion--the Avonova--at 219 West 81--we are seriously considering purchasing a 2 bedroom but have no experience with a conversion. The sponsor seems reputable and real estate agent thinks it is a good deal. Any thoughts???
Recently took a look at the models. This place is G A R B A G E. The
building was neglected for years, and the 'rennovation' is little more
than a facade.
The owners who are doing the conversion bought about in January 2005 for about $535 per square foot -- you can get the exact data on StreetEasy. They are renovating and asking $1,300 per square foot. A few negatives with this building: very small narrow entrance; crowded drug store and soup restaurant as retail tenants; original pre-war layouts which are obsolete for modern lifestyle; amenities package of health club and kid's room cost extra because the condo board has to separately buy the equipment; developers still need to kick out all of the geriatric hippies who have been living there since the 1960s and pay next to know rent -- this could take awhile because aging hippies don't go easy without a fight. For $1,300 psf you can just buy a condo that is really new -- glass walls, contemporary lay-out. This could be turn into a failed conversion because the price is high and the market appears to be stalled with Wall Street firms profitability looking light for Q3 2007 and Q4 2007, and potential for Wall Street layoffs.
what about 215 w. 88th street, the merrion condo, which is also a prewar conversion? I heard that they are selling well and the price is cheaper than Avonova.
The condo plan was just declared effective, no units have closed yet, and the one big sale under contract is now back on the market through Elliman? Hmmmmm...
Anybody have any thoughts on the condo conversion--the Avonova--at 219 West 81--we are seriously considering purchasing a 2 bedroom but have no experience with a conversion. The sponsor seems reputable and real estate agent thinks it is a good deal. Any thoughts???
what's the price range for a 2BR?
it is around 2 million for 1500 sq ft
Recently took a look at the models. This place is G A R B A G E. The
building was neglected for years, and the 'rennovation' is little more
than a facade.
Lipstick on a pig.
You are absolutely right aflem26--I am OP and we just backed out for that reason--
Stay away from this building, It is a dump. Owners trying to Cash out with minimal investment in the property.
The owners who are doing the conversion bought about in January 2005 for about $535 per square foot -- you can get the exact data on StreetEasy. They are renovating and asking $1,300 per square foot. A few negatives with this building: very small narrow entrance; crowded drug store and soup restaurant as retail tenants; original pre-war layouts which are obsolete for modern lifestyle; amenities package of health club and kid's room cost extra because the condo board has to separately buy the equipment; developers still need to kick out all of the geriatric hippies who have been living there since the 1960s and pay next to know rent -- this could take awhile because aging hippies don't go easy without a fight. For $1,300 psf you can just buy a condo that is really new -- glass walls, contemporary lay-out. This could be turn into a failed conversion because the price is high and the market appears to be stalled with Wall Street firms profitability looking light for Q3 2007 and Q4 2007, and potential for Wall Street layoffs.
what about 215 w. 88th street, the merrion condo, which is also a prewar conversion? I heard that they are selling well and the price is cheaper than Avonova.
What about the Manhattan House?
Here's an odd listing:
http://www.streeteasy.com/nyc/sale/229507-condo-219-west-81st-street-upper-west-side-manhattan
The condo plan was just declared effective, no units have closed yet, and the one big sale under contract is now back on the market through Elliman? Hmmmmm...
What about the Apthorp condo conversion? It's just 2 blocks from the Avonova.
uw19: The red herring for the Apthorp came out last August. I don't think they've published a black book yet.
I would also say that the Apthorpe is and will be in a completely different league than the Avonova, no?
forgot to add that my understanding is that prices will start at $2500 psf, as the minimum.