Park Columbus

Margategirl: about 7 months ago

West81stst - "lipstick on pigs" I can't wait to use your expression,if you don't mind. It was wonderful! Keep up the good work and info., it's fun and informative. It's really nice of you to share your knowledge of the area and market. Good luck in your search.

mfromm: about 7 months ago

A few perspectives on the Park Columbus from someone who's been looking for an UWS 2BR/2BA pied a terre. FLOOR PLANS: There are some good ones and some bad ones. Coming from the burbs, the larger bathrooms are appealing, and closets can always be eliminated. FINISHES: Kitchen is very slick, with top shelf appliances. Floor to ceiling stone in the bathrooms has an earthy feel. No ceiling lighting in main rooms is a bummer, but from what we've seen this is not so uncommon. CURB APPEAL: This is personal...for me, it's what's inside that counts, but I agree this bldg is drab. PRICING: A bit high at first blush, especially with no tax abatement. They need to sell units to file the plan, so they may be getting hungry. I like the fact that it's not huge like the Avanova.

West81st: about 8 months ago

JB: The $1100-1200 price point at ParkColumbus is a teaser price for some units on the second floor. The sales office quickly upsells customers to units that are priced in the same range as the Harrison and Ariel. Also, there's no tax abatement, so the monthly costs are very high from day one.

The Merrion is an intriguing comp, three blocks away in the same school catchment. The early sales seemed reasonably priced for 2007. Not sure why - some insiders, perhaps? The units released recently are priced sky-high, so we'll see what happens there. Merrion seems to target a different buyer than ParkColumbus, stressing pre-war charm over amenities, although the interior finishes in the renovated units appear similar, if slightly less upscale.

Avonova aspires to compete with the Harrison. I think might wind up competing with the Sabrina instead. In fact, the simlarities to the Sabrina are striking; that's a topic for another thread. The point is, every broker I've spoken to considers Avonova the most overpriced building on the UWS, and it's not selling. May things will pick up next month, after the condo is declared effective. For now, it's not very useful as a comp.

If a softening market leads to concessions and price cuts in the new buildings, I think the conversions are in for a rough ride. Although I'm not a big fan of Harrison or Ariel, when compared to them ParkColumbus and Avonova definitely look like "lipstick on pigs". Merrion is bit nicer, but has a lot of the same underlying limitations when compared to new construction. Sabrina will probably set the price floor for UWS conversions, and the others will eventually be priced off that floor, based on the premium buyers will pay for better amenities and a location 10-20 blocks further south.

That's just my two cents from the front lines of the UWS standoff.

J_B: about 8 months ago

aboutready, you are right. I was using the term safe too broadly and the point that I was really looking to make was that the location is embracing and inviting for families. I am not sure how much you can argue that Columbus Avenue from around the high 70s to the low 90s is quite appealing from this perspective. Also, the children's playroom that will be next door to gym in the renovated courtyard looks like it will be convenient.

The floor plans don't seem challenged in the least. The spacious bedrooms and closets are a big plus. And as highlighted by West81st, the kitchen and master bathroom are gorgeous and I would like to add that they blow away the finishes at the likes of the Harrison which are pretty awful.

That said, the exterior could use some work and doesn't come close to the new buildings in the area. But this seems to be balanced a bit with the $1200 average price per square foot of Park Columbus being in range of the older, non-renovated apartments for sale in the neighborhood that worth looking at, which much lower than those newer buildings (Ariel - $1300s; Harrison - $1500s) and other conversions (Avonova - high $1300s; Merrion - $1400s) in the neighborhood.

aboutready: about 8 months ago

Please, JB, there really aren't that many places in Manhattan that are not a "safe environment for the wife/kids." This place is WAY over priced for REALLY challenged floor plans. This place is so not family-friendly, at least in terms of all of the floor plans I've seen so far. THE PARK is only so great, there are a ton of great family parks in the city, you don't need to squeeze into these spaces at these prices.

West81st: about 8 months ago

I visited the sales office today for a closer look, and to get the current status. Occupancy on the first renovated units is late 2008 (probably VERY late). Salesperson said upper floors should finish in early 2009. She naturally claimed that the units that have been released previously have sold like hotcakes.

ParkColumbus is a refurbished 80s rental, and it shows. The building has no curb appeal whatsoever. YL has chosen some nice interior finishes: The Poggenpohl kitchens are well-equipped; the bathrooms are handsome, plentiful, and big. The teak floor in the master shower might be a double-edged sword: it looks great, but after a few years you might start wishing it were plain old tile.

If the market had stayed hot, the nice interiors would probably have been enough to draw buyers at price points from $1100-$1700/sq.ft. The way things are, though, higher-end projects like the Harrison (for those who can wait) and Ariel (for those who can't), seem likely to crowd this puppy out of its target price range.

West81st: about 8 months ago

Hyatt on the inside. Ramada on the outside.

As for the layouts, it's a matter of taste. The percentage of floorspace dedicated to bathrooms and closets seems unusually high. If that's your thing, ParkColumbus could be up your alley.

J_B: about 8 months ago

This spot is going to be truly nice for families. The building and the finishes are modern yet not overstated. And the layouts of the apts look like they will be very accommodating. The location is great and will offer a good balance for those looking for easy access to THE PARK and public transportation, a plethora of quaint and delicious eateries, and, most importantly, a safe environment for the wife/kids.

lookinginUWS: about 9 months ago

any thoughts?