The Oculus - 50 West 15th Street - Condo - Chelsea - by FX Fowle

[mkeit]

Does anyone have info on this site midway between 5th and 6th Ave?? They have been working on the foundation since Oct. 2005.

[jess]

It's the Oculus Condo

http://www.oculuscondo.com/

[infoshare]

Excerpt from Website

"With an anticipated occupancy date of December, 2007, The Oculus Condominium will feature 47 beautifully designed residences on 10 floors, including 4 exclusive Penthouses. 21 of the 47 residences will feature outdoor space."

[ccdevidad]

We live at 10 W 15th, just down the block. We looked into this development, visited their sales office. We thought it was a bit on the cheap side in terms of the finishes, etc. Not terrible but somewhat cheap. Also, while the prices are reasonable (in this market), the common charges are extraordinary, and this is true even though the amenities are subpar (again in this market). The design of the building is unusual too. The largest apartment, the only one we were really interested in is on the first floor. They don't seem to be selling very well.

[bigkdc]

Originally Posted by ccdevidad

We live at 15 W 15th, just down the block. We looked into this development, visited their sales office. We thought it was a bit on the cheap side in terms of the finishes, etc. Not terrible but somewhat cheap. Also, while the prices are reasonable (in this market), the common charges are extraordinary, and this is true even though the amenities are subpar (again in this market). The design of the building is unusual too. The largest apartment, the only one we were really interested in is on the first floor. They don't seem to be selling very well.

Sounds like a stinker...great neighborhood though

[lofter1]

Some renderings of the exterior from the website ...

[Templeton]

Does anyone have an update on the Oculus or Alchemy Properties in general? Would love to hear your thoughts.

[Front_Porch]

My brokerage office is right in that area (on 16th, just a couple of convenient steps off Sixth Ave.) and so we have had a continuing involvement with the Lion's Head (121 W. 19th), an Alchemy building which was widely perceived as underpriced when it came out -- and so blew the roof off when it came to sales.

Two years later, prices have risen considerably, but it's still a very solidly performing building. There's still perceived to be value in the bigger apartments because they have good layouts, and the finishes -- while not A+ -- are fine.

The Oculus has been a little more under the radar than that -- partly because it's a small building (47 units) and partly because it didn't have that same land rush when it opened. Looks like there are still 2- and 3-bedrooms available, but I haven't been in to see them because I've been working with a 1-BR buyer. The D-line looks good if you've got slightly older kids, though.

ali r.
{downtown broker}

[Templeton]

Originally Posted by Front_Porch

Two years later, prices have risen considerably, but it's still a very solidly performing building. There's still perceived to be value in the bigger apartments because they have good layouts, and the finishes -- while not A+ -- are fine.

The Oculus has been a little more under the radar than that -- partly because it's a small building (47 units) and partly because it didn't have that same land rush when it opened. Looks like there are still 2- and 3-bedrooms available, but I haven't been in to see them because I've been working with a 1-BR buyer. The D-line looks good if you've got slightly older kids, though.

ali r.
{downtown broker}

Hi. Thanks for your insight. What do you mean by an absence of a "land rush"? I thought the building was selling well considering it won't be ready until the middle of next year. The developer's reputation is pretty pristine, from all I can tell...

[Front_Porch]

The Lion's Head literally sold out in a morning -- we did a story about the lines snaking around the block when I was at the Post (former journo here).

The fact that the Oculus still has several available apartments is, by contrast, "not a land rush."

ali r.
{downtown broker}

[Templeton]

Interesting review of this project on www.nycondoblog.com... do you think this is a fair review of the Oculus?

[Templeton]

Anyone reading www.nycondoblog.com? It posts relatively detailed reviews of this (and other projects). Some of the reviews are a little developer-friendly. Oculus got a great review, when Indigo did not - and they are pretty much the same finishes amenities.

[Front_Porch]

I just read the blog for the first time, and I'm a little confused -- who is the writer? Doesn't claim to be either a journalist or a real estate agent, but just an "enthusiast" -- how can we tell what his opinions are worth? (If we are indeed dealing with a "he"?)

Anyway, the blogger doesn't review the building I live in (the Vendome) and I wouldn't wrestle with a shadow on any other specific building.

I will say, in general, the blurbs do tend to get the positives of each building right but omit the negatives -- for example, when a building has impinged views or the developer has cheaped out on layouts, I don't see it mentioned.

So I would say, it's as worthwhile to a shopper as brochures are -- if you want to compare positives-to-positives, or look at pretty pictures, it's there.

ali r.
{downtown broker}

[Templeton]

Originally Posted by Front_Porch

"how can we tell what his opinions are worth?"

"Anyway, the blogger doesn't review the building I live in (the Vendome) and I wouldn't wrestle with a shadow on any other specific building."

His opinions are probably worth as much or as little as any of ours...

I think he/she only reviews new construction.

Which 3 bedroom line do you like best in the Oculus - C line or D line? Both have various attributes...

[infoshare]

Originally Posted by Templeton

His opinions are probably worth as much or as little as any of ours...

Thank you for posting the link to the condo blog; seems like a good resourse.
There are actually very few opinions - from what little I read - included in the text; mosty simple descriptions of the various new condos. I also read a bit about Sky Houes - good site, thank you again.


Excerpt from the Skyhouse listing -
With the slender, warm exterior, the architects have largely achieved their stated objective, to create a tower that “gracefully responds to its surroundings,” a pleasant mish-mash of churches, Beaux-Arts, early 20th century and mod 1960s office buildings.