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Thread: Chelsea Stratus - 101 W 24th St/735 Sixth Ave - Condo - by SLCE

  1. #196

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    Boogi, I'd be interested in what the sales office is telling you right now also.

    If you don't mind, since there are quite a few of us that are interested, could you please post what you hear from them here?

    Thanks!

  2. #197

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    i just called the sales office. we can actually go up and see our apartment. i think we'll do that next week. they appear to be ahead of schedule, but are still sticking with early may closings (for lower floors). i will post after i go up there, and see how the actual finishes compare to the model.

  3. #198

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    Quote Originally Posted by nyrealestate View Post
    Boogi, I'd be interested in what the sales office is telling you right now also.

    If you don't mind, since there are quite a few of us that are interested, could you please post what you hear from them here?

    Thanks!
    I've only had a relatively short preliminary meeting with the sales office so I don't really have very much to report right now. If you have any specific questions, though, I can try to see if I can find out the answers for you.

  4. #199

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    Quote Originally Posted by ekartash View Post
    i just called the sales office. we can actually go up and see our apartment. i think we'll do that next week. they appear to be ahead of schedule, but are still sticking with early may closings (for lower floors). i will post after i go up there, and see how the actual finishes compare to the model.
    If they let you (and you don't mind, of course) could you see if you could take a few pictures of the apartment just so we can actually see what the bedrooms and living areas look like? I'd really be interested in seeing an actual (even unfinished) apartment in case they don't let me up there. Thanks!

  5. #200

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    I really like this building - I think it fits really well in the neighborhood and skyline. I think that is on the northern-most edge of desirable Chelsea, and I think the lower floors are going to get killed with 6th avenue traffic noise. Has anyone looked at the quality of the finishes yet? When is the expected closing date?

  6. #201

    Default how much???

    does anyone know how much one and two bedrooms at the stratus are going for per sqft? Also can you bargain with them off the inital offering prices,and do they offering any incentives? thanks for your help in advance.

  7. #202

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    Quote Originally Posted by Templeton View Post
    I really like this building - I think it fits really well in the neighborhood and skyline. I think that is on the northern-most edge of desirable Chelsea, and I think the lower floors are going to get killed with 6th avenue traffic noise. Has anyone looked at the quality of the finishes yet? When is the expected closing date?
    I think the general consensus seems to be that the finishes aren't quite the best, but they're certainly not the worst either. I heard the expected closing date is still May/June 2008.

    Quote Originally Posted by jc2k View Post
    does anyone know how much one and two bedrooms at the stratus are going for per sqft? Also can you bargain with them off the inital offering prices,and do they offering any incentives? thanks for your help in advance.
    I don't think they've been too open to bargaining or giving out incentives yet.

  8. #203

    Default Super Stratus Views

    I agree about the finishes. They are nice enough but nothing to crow about. The facade of the building is rather utilitarian. However, the Stratus offers stupendous views, great layouts, and a more user friendly neighobrhood than new developments farther west.

    I am excited about my new south facing apt! Is there any new news on the Extel Hotel tower?

  9. #204

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    Hi, I'm new to this forum. I've been following this thread for some time now and I'm also committed to a 2-bed apt in CS.
    I stopped by an open house in the Charleston recently to check out the finishes there. They look fine, just like the Stratus model apartment, except the kitchen countertop is different. I actually like the soapstone countertop in the Stratus better. The cabinets, GE Monogram fridge and F&P appliances all look decent.
    In this past sunday's NY Times real estate - sales around the region section, I saw a Chelsea Stratus listing sold by Corcoran for 1.725M but listed for 1.75M. What's the deal with that? Why would the sponsor's agent (Elliman) let Corcoran release this info 6 months prior to closing?

  10. #205

    Default Finishes LCOR

    I trundled into the model condo at The Charleston, and found that the finishes were slick - (fairly much as i had perused in the original showroom )- i sense that this is not a bad proxy for how the Stratus, will end up.

    Even more, the model apt. was on the 4th floor SW corner was a quiet as a museum - which i guess speaks to the insulation quality provided by the L'Cor.

    So I guess those folk who poured their $ away on 4th Floor and above at the Stratus can be reasonably reassured.
    Last edited by jonah; November 20th, 2007 at 11:01 AM. Reason: extra

  11. #206

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    i dont understand how they can have 20 units left if there are 200 in the building. they might have 20 available but i think the inventory is larger than that. could someone confirm.

    strange how corcoran could sell the property in ny times, 50k below asking. pretty pissed if they did do this.

  12. #207

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    Quote Originally Posted by lupus1 View Post
    i dont understand how they can have 20 units left if there are 200 in the building. they might have 20 available but i think the inventory is larger than that. could someone confirm.
    There are a total of 204 apartments in the building, with 1 apartment reserved for the live-in super. Currently there are 136 listings with 111 in-contract and 25 active. They've been periodically releasing new units to keep the availability around 20 to 25. According to streeteasy, there were 16 previous listings. It's not clear what happened to these apartments. I would say there are about 50 to 65 apartments in the inventory yet to be released. But considering the building's size and the current market conditions, it's selling very well. It's definitely more than 50% sold, if not the 70% that LCOR claimed to have sold back in September. I'm also pleased with the progress of the construction. Unlike some horror stories I've heard about new constructions; delays, etc. CS is turning out to be one of the better developments.

  13. #208

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    Quote Originally Posted by lupus1 View Post
    strange how corcoran could sell the property in ny times, 50k below asking. pretty pissed if they did do this.
    The listing that was in the NY Times Real-Estate section is still listed by Elliman as in-contract. So Corcoran was likely the buyer agent, not the seller agent. But I still don't understand why they would announce the sale to NY Times if it hasn't closed. The purchase price they listed is 25K lower, not 50K. That's 1.4% of the asking price, or the equivalent of NYS transfer tax. I wish they gave me a break like that.

  14. #209
    http://tinyurl.com/2ag28z Front_Porch's Avatar
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    Default Why was an in-contract sale listed in the NY Times?

    CS Guy:

    This is an interesting little nut; I'd like to x-post about it in "Buying a New Construction Condominium," if you don't mind.

    I cannot speak for the Times, but the way we used to do listed sales (in a column called "Just Sold") at the Post is that they were reported by the firms themselves.

    We'd get one aggregate feed from Corcoran and another from Elliman, and various feeds from smaller firms and brokers.

    We would take those feeds and generally check to make sure that there were two brokers listed in the case of a co-broke deal, and that their names were spelled right, but we didn't check to see if the deal had closed, because why would the firms have sent us sold listings that weren't sold?

    My guess is that you've got this figured exactly right, that the buyer's broker (I have refrained from looking to see who this was) wanted to see their name in print, and reported it as "sold" to their firm when it wasn't.

    It would never have occurred to the Times to check -- and in fact they can't, because the sale is not yet public record.

    I am not going to get into a catfight between two big firms, but I'd say it's now up to the selling broker to deliver the handslap of "don't report it as sold till it's sold."

    If this item ran with the buyer's consent, then that's simply between the firms.

    If it ran without the buyer's consent, then this is arguably a breach of fiduciary duty to the buyer.


    ali r.
    {downtown broker and former real estate editor, New York Post}

    ps: givebacks of closing costs are commonly used to move new development units when sales are slow. That's one reason customers hire buyer's brokers, to negotiate stuff like that.

  15. #210

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    Quote Originally Posted by Front_Porch View Post
    This is an interesting little nut; I'd like to x-post about it in "Buying a New Construction Condominium," if you don't mind.
    Please do. The more you can do to help educate buyers the better. Hopefully the Manhattan real-estate market will become more efficient over time, i.e. more transparency and accurate reporting for buyers.
    cheers.

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