The Orion - 350 West 42nd Street - Condo - by Cetra/Ruddy

[antinimby]

Is anyone altering their apt? I am thinking of knocking parts of the wall down. does anyone know good contractors?

LOL, they just put it up for heaven's sake.

[lofter1]

Just spoke to Corcoran.

... Were also told that according to the contract, all maintenance charges are payable upon closing, nothing is pro-rated.

The buyers should do what my landlord does ... start re-negotiating AFTER the deal is done (maybe one has to be Mediterranean to figure out how to do this best -- it's a hard-ball move, but it can get results).

Still, if all or a majority of buyers joined together and took the position that despite the "contract" they weren't getting the services they were either promised or had paid for and then refused to pay the full amount of maintenance (or whatever it's called) then the developer might very well sit down and re-think the situation.

But then I've been called a trouble-maker in the past, so perhaps it's best not to listen ...

[eehassell]

I have definitely raised this common charges issue to my lawyer. However, they said that there is nothing that they can do until you get the notice. Because at that point, you will know the situation of what ammenities are available or not. So, members out there as you are getting your notices, could you please let us know the state of the ammenities that they are anticipating on providing to you during your move in date.

Also does anyone know if you can negotiate on the move-in date? With just one month notice, what if it is not a convenient time due to whatever reason. Heck... this is not a rental commitmment. It's a purchase...

[Xenos962]

I was told that you get your notice, you have 30 days to close, your inspection is 7 days before your move-in date and then you move in.

Now, obviously, they are carefully scheduling closings and move-in dates so that there are not 50 moving vans competing with construction vehicles and so there are not 500 people sharing limited elevators with 100 construction people.

However, I cannot believe that they would say to a buyer who cannot move on the date specified "Oh, then sorry, you are in breach of your purchase agreement so we are going to keep your deposit and cancel your contract."

Folks... the advantage was with them when we were buying our units in a competitive market. The advantage is now with us as owners.

[Drexel]

I am starting to look for a mortgage company for my loan at The Orion...can anyone recommend a reliable and competitve company?

[Dryeyes]

The buyers should do what my landlord does ... start re-negotiating AFTER the deal is done (maybe one has to be Mediterranean to figure out how to do this best -- it's a hard-ball move, but it can get results).

Still, if all or a majority of buyers joined together and took the position that despite the "contract" they weren't getting the services they were either promised or had paid for and then refused to pay the full amount of maintenance (or whatever it's called) then the developer might very well sit down and re-think the situation.

But then I've been called a trouble-maker in the past, so perhaps it's best not to listen ...

I agree. Spread the word to all the Orion owners and let's present a united front. What's the worst that can happen? The Orion says no. That's it, so what have we got to lose?

[NYCResident]

I agree. Spread the word to all the Orion owners and let's present a united front. What's the worst that can happen? The Orion says no. That's it, so what have we got to lose?

lol, I don't want to burst anyone's bubble here, but you guys are being very unrealistic here. It's obvious that many of the active posters on this thread are first-time buyers. Guess what - you guys signed a LEGAL contract. There are inherent risks (and of course, benefits) in buying preconstruction - you're attorney should have informed you of them. At this point the sponsors have only one goal in mind - close on as many apartments as quickly as they can, so that they can get back their return on their investment.

Everything that the sponsors are doing here is par for the course - welcome to the real world.

[NYMEL3]

The normal procedure for buying preconstruction is when the unit is ready, the sponsor will notify you the closing date. You go and inspect the unit one week before closing and make a list of things that are not right for their record to make them right within an agreeable time. After you paid the balance which is also called final settlement , then the apartment is yours and you can move in ANYTIME you like. It is the date of closing , ie. handing over the final sum that the is critical , the rest is up to you.

I was told that you get your notice, you have 30 days to close, your inspection is 7 days before your move-in date and then you move in.

Now, obviously, they are carefully scheduling closings and move-in dates so that there are not 50 moving vans competing with construction vehicles and so there are not 500 people sharing limited elevators with 100 construction people.

However, I cannot believe that they would say to a buyer who cannot move on the date specified "Oh, then sorry, you are in breach of your purchase agreement so we are going to keep your deposit and cancel your contract."

Folks... the advantage was with them when we were buying our units in a competitive market. The advantage is now with us as owners.

[NYMEL3]

The most important thing for all owners to do is the visit to the apartment the week before closing. To go through the place thoroughly and list out all things that is not done properly ( of course, must be within reason ) so that both sponsor and owner are clear of the situation from day one and remove any arguments in future. We have to trust that Extell is a developer that will stand by its work and reputation and will rectify any claims we made. After all, it is really in their best interest to make The Orion their show case for their future success.

[investor350]

I differ in opinion! People get real!This is the 6 th. tallest residencial high rise in NYC. We have been told that a limited amount of floors will close starting in early April.
Closings are expected to continue for the approximately 550 units in this 60 story structure through the Fall. Finish construction for lower, mid and and upper floors will involve the developers construction workers as well as owner's finish contractors to continue to receive, transport and install fixtures & furnishings and remove debris of all size using those few elevators at the Orion. Most unlikely elevators will not be in finished interior condition for a long while. Sensitive state of the art EmergencyAlarm Systems throughout the buiklding will be going off for a very long time during this construction process (fine construction dust and the heat from construction installation), will the garage be functional? Will that small lobby accommodate deliveries........?

Owners must let it be known to this fine developer that ifthey are forced to close with the majority ofthose units still under finish construction as well as the building not having a CO the maintenance sghould be abated proportionately. This is not unheard of. NYC has not seen such an immense
constructionboom of well needed units in many years. The buyers must demand that they be heard by developers and not be bamboozled into being forced to pay full freight in a warehose situation.

[investor350]

Most likely the elevators, hallways and walls will be like a construction zone-
constantly banged up and damaged due to the aforementioned workers and moveins...................A new residentail developer to NYC with many fine projects underway and in the wings should be sensitive to high end buyers and the lifestles that most expect to enjoy more than an arms length from early forced closings- proportionately abate the maintenance! In addition-will Real Estate Taxes under NYC Abatement be defered to the homeowner and be borne by the developer until the Developer has a CO? People wake up-know your rights! Speak and ACT NOW!

[investor350]

People wake up! Those suffering from allergies should question how this sophisticated Central HVAC system will functon under construction conditions for up to and possibly more than 6 months of finish construction by the developer and unit owners alike. There are no traditional HVAC sleeves from each unit to the street like those in many of the post war buildings. Furthermore will the laundryroom in the mid section of the building be operational in early April? Will insurers insure units in a building in early April where more than 3/4 of the building are not TCO'd? This thread is drawing the attention of many people, from lawyers to law makers, bankers insurers and the like who are questioning forced closings in monoliths in which the majority of units have yet to be TCO'd. Rights of buyers will be closely addressed as the several thousand units start closing like never before seen under TCO's in the Metroplitan area.There are many aspects of safety that come into question besides those regarding quietude and quality of life in a construction site.

[maknyc]

I am starting to look for a mortgage company for my loan at The Orion...can anyone recommend a reliable and competitve company?

Grant Prevor, President
Greentech Mortgage Corp.
212-643-8535 Ext. 201

great person, knowledgeable, been in the industry for a long time. He is helping me out. Give him a call.

[drendo4u]

Hi, I'm new to this site. I have read every post from day one to now and they are all very informative. Sorry for the change of subject. I was wondering if any of you are concerned about the new construction on the west side at 440 w. 42nd. This is a 60 story high building with 800 units that will take up the entire block. The west view or river view will be partially blocked by this massive tower. The tower is set to be build soon. I bought a unit in the southeast side so I'm not too concern with that tower. However, there is an empty lot on the east side at 42nd and eigth ave just one block north of the new york times tower. There is no information from the city as what is going to be build there. If this construction is going to be anything like the new york times tower, the view to times square will be blocked for everyone facing the east. No more view of the new year ball drop.

[lofter1]

No more view of the new year ball drop.

Welcome to NYC -- where no view is forever !!