The View at East Coast

beam: about 6 weeks ago

I just noticed that there are "sales records" on the streeteasy page for EastCoast I, the rental building where the sales office for The View is. I don't have the insider account, but using one of the closing values shown and checking out the sqft for the units from their website, I got $780 psf for a 2brd, which is not so bad.

ericho75: about 6 weeks ago

Love the building but $1,000 psf is a bit too much in this environment.
I agree with LICComment, the finishes are very very nice.

DWJCESQ: about 6 weeks ago

Was there this weekend - the ask is 1000+/SqFt, they are wickedly undersold and buyers face financing challenges. They are looking for 30% down.

ivar: about 3 months ago

Really, it was completely done during those wonderful days when everyone was praying that major slump was isolated to the real estate sector early 2008. The building was completely done?

Nice "finishes" you say?

kcw984: about 3 months ago

Any new information about the pricing?

LICComment: about 3 months ago

Yes, the building has been completed and its finishes are very, very nice. ivar is babbling on again about things that he has no clue about.

kcw984: about 3 months ago

But wasn't this building completed before the bottom complete fell out?

ivar: about 3 months ago

Here is one thing big to watch for, and it has happened elsewhere in LIC:

The project is still midstream when the bottom falls out of the market,
The developer knows that sales are going to hit the wall and units will be unloaded, at best, at lower-than-anticipated profit margins,
So the building is finished in the cheapest way possible with a nice cosmetic veneer covering the bare minimum that the building code requires - the standards of the cheapest rentals rather than of high-end condos.

I'm not saying that this is occuring with this particular buiding because I simply don't know> But it has happened before when the same elements were in place.

kcw984: about 3 months ago

Anyone? Is this place still overpriced?

kcw984: about 3 months ago

Anyone have any new info regarding current price per square foot?

Out of all the new Hunter's Point condos, there seems to be the least amount of information about The View.

beam: about 3 months ago

I've been wondering about that too, how does streeteasy normally get listings, and does this mean Rockrose (or whatever they are called now) is blocking them? is ACRIS going to be the only source of information here? input from expert streeteasiers would be most welcome.

purpletulip95: about 3 months ago

Apartments are in contract and were supposed to start closing. Where are the listings in Street Easy?

InFamous: about 4 months ago

"like the powerhouse, greed did not work well for them, what a surprise"

Powerhouse is at 600 dollar psf.
The View is at 1,000 psf.

Don't understand where this Greed thing is coming from.

mike77: about 4 months ago

the building is rental only for now, supposedly they finally got the 15 offers needed to become condo. but as well was said that the name of the company or even building will be changed. go figure.
they having a lot of issues, i have been there, the price is ridiculous.
the lay out of the apartments are like any rental apartment, which is a big negative rockrose trying to sale they should build for it.
positive would be the view and quality.

price too high, too many rentals, gym and parking outside for that price should be inside imaging rain or snow time... when you pay over 1000 per sf and high maintenance they have on top of that.

like the powerhouse, greed did not work well for them, what a surprise

ap2492: about 7 months ago

is this building ready to be moved into? NO sales are listed ..

jason10006: about 7 months ago

"2009_4_viewlic.jpgBrokertales runs through all the amenities being offered to buyers at Long Island's City The View, then dishes some dirt on the much-hyped waterfront condo building: "With less then 15% in contract, Rockrose is starting to give away the store. Yes, they MUST sell a few more or they will be in deep trouble with the State’s attorney general and with their financing. Hence, all the perks listed above and prices now in the $800 per s/f range. Yes, that’s right! They went out of the gate at $1,000-plus per sq ft about a year ago. Now, with the sales so slow, they are working it hard! And a reliable source told us his offer of $699 per s/f was accepted."

http://www.brokertales.com/2009/the-view-at-east-coast-rockrose-jewel-condo-at-4630-center-blvd/

and

http://curbed.com/archives/2009/04/09/the_view_askew.php#reader_comments

lobo: about 8 months ago

If you have some time to wait the new building by Time Square (at the corner of Vernon && Jackson) looks like it could be interesting. It will also probably open at a time when inventory is at its highest ... good for prices.

vidxprt: about 8 months ago

Long term tax abatement and a decent maintenance price is most attractive to me as a buyer right now. Price per square foot simply needs to be reasonable to the surroundings. I'm also older and appreciate the amenities of the full service condos.

LICagent: about 8 months ago

I agree with richseda. If you really want to be on the waterfront, go with powerhouse. If not, there are other equally nice units in other properties in LIC.

richseda: about 8 months ago

building is very nice, just overpriced.

they have been renting a lot of units, but very few sold.

go with the powerhouse, priced right and more character

vidxprt: about 8 months ago

Does anyone know what is going on with this building? Why don't they publish their listings on the market? Is there a tax abatement on this property? I'm guessing all of this hidden agenda means you need to go there and try to be "sold" on it as opposed to looking at it from an investment point of view.

lobo: about 9 months ago

Manhattan at 600s...
let's be realistic ... 600psf in Manhattan is faaaaaaar from common - unless you single out specific areas. FiDi, far upper east/west, hells kitchen etc...all comp areas to LIC.

Turtle bay/murray hill/far east-upper east are all stll well above 600psf on average.

nyc10022: about 9 months ago

With Manhattan prices hitting the $600s psf now, I wonder how low LIC has gotten.... (if there are in fact any sales).

divinextrum: about 9 months ago

Jason10006, what condos other than The View are going rental? I have looked in the blogs you mention but not found any in particular.

jason10006: about 9 months ago

As streeteasy and curbed have documented, MANY LIC condos are now for rent, so I do think rockrose was a little late to the party. By 2015, maybe this will be the new hell's kitchen. SO maybe they are really early?

nyc10022: about 10 months ago

> I agree that $1,000psf in this market may not be easy.

It wouldn't be easy in Manhattan. Across the river, I have a feeling its going to be tough to sell anything over $500-600 psf in a few months.

divinextrum: about 10 months ago

I was sent this link about The View - apparently they will start renting some units there? Anyone have insight on this? http://www.outerb.com/?p=893

nyfineman: about 11 months ago

NY Times vs. A Fine Blog. Gotta let the Times win a couple, times are tough :)
http://afinecompany.blogspot.com/2008/12/rockrose-offers-innovative-price.html

lobo: about 11 months ago

here it is:
http://www.nytimes.com/2008/12/07/realestate/07deal1.html?_r=1&ref=realestate

lobo: about 11 months ago

cool. please re-post the link here too.

nyfineman: about 11 months ago

Sorry guys. I had to pull the story about Rockrose's incentive. The story is completely accurate and I will repost it tomorrow. Apparently I had scooped a publication much bigger than A. Fine Blog.

lobo: about 11 months ago

This is one of the more interesting incentives that I have seen. It actually makes sense to me:
http://afinecompany.blogspot.com/2008/12/rockrose-unveils-incentive-to-top-all.html

TheFed: about 11 months ago

Been wandering over to the Queensbridge Houses for some crack there LICC?

LICComment: about 11 months ago

Nice fantasy newaccount.

newaccount: about 11 months ago

Lower interest rates will just mean more demand for Manhattan. The new condos should stablize at $400 psf.

LICComment: about 11 months ago

Thanks for responding to a comment from 6 months ago. If you knew what was going on in LIC, you would know that prices are holding up well, relatively. More and more people are looking at the area as more retail has been coming in. Once mortgage rates drop into the 4.5-5% range, we'll see lots more people considering buying and refinancing, which will help stabilize housing prices.

newaccount: about 11 months ago

LICComment, don't kid yourself with all the new construction. The easy money on Wall Street is over, which means other sectors will be hurt as well. We are in a recession and there is already too much inventory in LIC. Loans are harder to come by and many people just lost their shirt in the stock market. Keep dreaming, son.

LICComment: about 11 months ago

Where has dco been? I miss that guy.

shInLIC: about 11 months ago

has anyone gone to the sales office for price quotes yet? I was there Mar 08 for the initial high price (lowest 695k for 1bdr) but looking at the website, the starting price seems to be a lot lower now (i saw some units at 560k for 1bdr). Are these really the current asking price?

LICyuppie: about 12 months ago

They have not reduced their prices nearly enough yet. I think sales are slow, but they refuse to lower their prices because Rockrose still has cash reserves. Well see how long that lasts. They will fall eventually give it time. A lot of the layouts are not so great especially considering the ridiculous asking prices.