building at 105 Lexington Avenue

with all those price chops, seems like there are gonna be a lot of "deals". Just wonder how many will actually sign the contracts..

I think it depends on how serious and willing a person has to be to take risks on a fringe neighborhood in a declining market. In our case my buyer was, though she still has a wondering eye..

hey Greg how is that clients big deal you got her working out now?

Funny you should ask....

Any recent opinions on this place? Does the developer seem flexible on price? The spaces seem great, but the building looks to be far from the train, and the neighborhood still seems a little sketch.

Great Finishes. Reasonably negotiable. You need to see and experience for yourself, in person.

The prices seem high to be so far from the A/C train - I know the G is right around the corner, but the G is notoriously unreliable. Any thoughts on why the prices haven't come down more?

Make an offer.

But what's up with the rentals? Wouldn't it be a bad investment to buy into a building like this? One small part sold, a large part for rent and a lot unsold?

That's definitely a consideration. We were told that the rentals were to help the sponsor cover the taxes, and would probably be sold once all the other units were sold. However, that's probably gonna take some time (if ever).

Now that they've reduced the prices, I really would have thought these would be selling. I suppose they could have made some better choices on how they built out the apartments (if you see the awkwardly large bathrooms, you'll understand what I mean). The block is also a little lonely (a few empty unsold buildings like this one and another shell where construction seems to have stopped). Something tells me it's going to be this way for years.

Ultimately, we went with another place because it had a private backyard, but I did really like this building. It's at least worth a look if you're comfortable with the neighborhood.

Does anyone know anything about hte management company? I'm worred about buying in a building that is mostly unoccupied or partially rented. Lots of uncharted terrirory. What do people think a reasonable bidding price is. -7% from ask. -10%

Will begin bidding for one of the units. After getting some info from the agent I feel comfortable with the progression of sales. And there are only 3 units for rent, not 9 as listed on this website. The prices really are great as it is. Heat is included in the maintenance! (Ever try heating a loft in the winter time? You're talking massive heating bills!) Future non abated taxes are very reasonable. I remember just a couple of years ago thinking that a loft of this size for this price was never to be had again. I like that it's a real loft that you can configure to your own liking and not just some wannabe apartment with high ceilings.

what's the walk like between the AC and the building when it starts getting late? I've been in the area during the day and can't really decide how i feel about the idea of living there. the square footage has me feeling adventurous after focusing in williamsburg (not a hipster and don't love the idea of being surrounded by them even if there are some decently priced places out there) and hunters point in LIC. the thought of 1100sf for a price that gets you about 700 in wburg or 600 in the buildings in LIC that are well built has me on the verge of drooling. but i don't know if i'd realistically feel all that safe living there, call me a wimp. i haven't been around there in a few years though so i might go check it out and see how i feel about it now.

The lofts are great, however completely unrealisticaly priced considering LOCATION and maintenance. Proof of it, they have not been selling at all...bid no more that 400 per sft...just a suggestion...have been leaving in the area at the Kent and the project few blocks away has been getting worse rather than better...no sales at the Kent too for year, few units sold when prices have come down significantly...

I've been living here since June and love it. As do my wife and 4 year old. I personally think it was a great investment.

Hi benjaminylai, I'm considering to buy in this building. I'm going there on Sunday with my girlfriend and we would love to meet with someone who lives there already.
Would you be open to meet for a few minutes?
Thank you.

Does anybody know how many units have been sold already?

Alex...Will do, ask Thia to call me.

There are currently only six units available for sale and 19 have been sold (the other five were rented as was discussed in the comments). Those too will be sold at a later date. The project has been quite successful after emerging from the downturn of prior years. 105 Lex has the advantage of being a new development building, but with the certainty offered by immediate closings and completed construction.

I've looked at this building.. it's interesting but after researching it a bit I have a few question regarding the homeless shelter (BRC) two doors down and the sport mans lounge on the corner. I'm also worried that this building falls in the wrong police precinct - hearing terrible things about the response time. Any residents have any color on this?

I'm looking at this building, anybody know anything about the BRC homeless shelter a few doors down? It looks pretty mellow but makes me nervous. Also what's the story with the sportsman lounge on the corner? watch a few guys get buzzed into a bar... did not look like just anyone could walk in.

Any information on the developer?

BUYER BEWARE - developer does not have a tax abatement in place for some units. Does not reveal that fact until after you agree on price, as well as claiming building is FHA approved. That has lapsed as well.