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Thread: 90 William (Be@William)

  1. #1

    Default 90 William (Be@William)

    Has anyone seen this place yet? http://beatwilliam.com although there's nothing much on the website yet since the sales office opened only last week. I was there on the first day -- the prices were flabergasting, as low as 750 / square foot! The floor plans were good, finishes in the model unit were good, the light was fine, good ammenities (gym, landscaped roof deck, etc). What's the catch?
    I heard they sold out on the first day, but they've since released another set of units. Presumably the prices are a bit higher now, but I don't know how much.
    Any comments or thoughts on this building?

  2. #2

    Default bait and switch

    That is the oldest marketing ploy in the books. Developers advertise $750/ft but everything at that price range is sold out. They will steer you to the more expensive units at a higher premium. By the time you sign the contract, you would have given them an arm and a leg.

    Ask the salespeople if they used to work for a car dealership.

  3. #3
    Crabby airline hostess - stache's Avatar
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    Default

    I think you sound like a sales rep.

  4. #4

    Default

    funny I was thinking the same thing.

  5. #5

    Default OK, fine, but what about the building?

    OK, fine, if you want to assume I'm a sales rep and discount what I'm saying, then I don't mind. (For the record, I'm not a sales rep, but that's OK, you don't have to believe me).

    However, what about my original question? Has anyone seen the building? Does anyone else have any thoughts about whether it's a good bet or not?

  6. #6

    Default Moving on...

    Had an appt today. The building is apparently selling well and the sales people certainly apply the pressure. We had to wait 10 minutes for our appt and were ignored for the entire 10 mins. The 1-bdrm is HUGE, but faces a dark gray granite building. Anything below floor 11 gets little natural light. I plunked down my $200 to get the offering plan and take the unit off the market. I didn't have my lawyer's phone # at the time and was told that I could call with it later. 3 hours later, my partner went to view the model and give our lawyer's info only to find out that they sold the unit to someone else. Apparently, without the full contact info for the lawyer, they will sell it to a buyer who can immediately provide that info. Both my broker and I called the sales agent to complain because neither of us were told that. In fact, in her pitch, the sales agent told us that the $200 takes the unit off the market for 3 days. If we don't go to contract after 3 days, the unit goes back up for sale. The sales agent was beyond rude to me and to my broker - so much so that my broker filed a complaint with Corcoran / Sunshine management. When I asked exactly what my $200 was holding, the sales agent's answer was "nothing" - all it did was allow me to take a copy of the offering plan. Needless to say, I'm moving on. Finishes were adequate, appliances average, the "central a/c" are 2 heat pump units controlled by a wall theromstat. And it's a lot of space for 1 little heat pump to heat and cool. Spend a little more and check out The Setai...absolutely incredible. When 90 William releases the remaining units, they'll be in a similar price range anyway.

  7. #7

    Default

    Not sure but looks like not tax abatement. Don't know if that has anything to do with the low $/SF.

  8. #8

    Default Dorms

    nice building

    cheap too

    but 84 willliam is a freaking DORMITORY and its right next door

    anyone know how loud it gets?

  9. #9

    Default dorm dorm dorm next door\

    [
    why not just live at new school next door

    quote=tavist;163402]Has anyone seen this place yet? http://beatwilliam.com although there's nothing much on the website yet since the sales office opened only last week. I was there on the first day -- the prices were flabergasting, as low as 750 / square foot! The floor plans were good, finishes in the model unit were good, the light was fine, good ammenities (gym, landscaped roof deck, etc). What's the catch?
    I heard they sold out on the first day, but they've since released another set of units. Presumably the prices are a bit higher now, but I don't know how much.
    Any comments or thoughts on this building?[/quote]

  10. #10

    Default

    Actually having bought other condos in NYC these units are incredibly priced for what you get. My wife and I just took a contract out on a 845 square unit loft for less than 745 dollars per square foot... And YES there is a tax abatement..it is a 421g and not a 421a like a new condo. This is a condo conversion. I feel that those of you that can see the units for the price offered will be as significantly impressed as we were... Unfortunately I feel these prices will be gone in the next few days. Our broker from Douglas elliman concurs... Incidentally this board is terrific....

  11. #11

    Default 90 William

    The building used to be named 1 Silicon Alley Plaza and was already wired with Fiber Optic to host the Dot.Com boom a few years back. It used to host companies such as Site59.com.

  12. #12

    Default But WHY is it so cheap?

    Quote Originally Posted by sarecca View Post
    Actually having bought other condos in NYC these units are incredibly priced for what you get. ... I feel that those of you that can see the units for the price offered will be as significantly impressed as we were...
    Agreed, but WHY is it so much cheaper than every other building in the area? There doesn't seem to be anything wrong with it that would cause the lower price, so why are the sponsors selling it so cheap? And if they really are getting multiple offers per unit as stated above, then why aren't they allowing bidding wars to happen? Why not just go back to the 2nd guy and tell him he can have the apartment for an extra 10 grand?

    Will the low prices affect resell values 2-3 years from now?

  13. #13

    Default

    From what I have heard the sponsor needed to get 15% of units sold very quickly to file plan .....and then units will rise... Second amendment will be coming out any day with prices increased at least 7%.....

  14. #14

    Default Price will increase

    Yes. Once the initial percentage is met, the developer can file the necessary permits. Expect the amended plan offering to increase price/ft. drastically.

    That's what happened to 15 Broad and 20 Pine.

  15. #15

    Default its a bad building

    cant see why anyone would want... dark, dirty, with dorm nearby

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