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Thread: Hudson Hill Condo's West 58th

  1. #1

    Default Hudson Hill Condo's West 58th

    This new development started sales last October I think, and they do not have have many ( or none) contracts out.....what is it about this building that is not attracting buyers.....the builder has two other projects down in Chelsea that are selling good.....I thought it was due to the small windows for such a new building, but cant figure this one out....

  2. #2

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    Just wanted to chime in here for you about the Hudson Hill. I have a feeling it is because the finishes they use are dated and mishmash- the quality is not there. Plain vanilla is not cutting it in this market, nor will it- unless you are way below market which this is not. There are choices out there and buyers are expecting more it seems,and some developers are rising to the occasion, while Alchemy Property is years behind. If you compare their buildings, you will see practically no change in finishes- a slight color here and there.
    If you ask me, even their "formula" is way below par.

    I have also heard that some of their prior developements downtown are not happy campers- which is now apparently running ramped with other more glamorous sponsors as well.

  3. #3

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    I'm surprised by the last post. From everything that is out there, Alchemy's reputation is pristine - Lion's Head, Oculus, Indigo are all top-notch projects that sold out and are now making their unit owners a tremendous upside in resale (particularly Lion's Head and the Gramercy Tavern building).

    I have not heard anything, ever, and about "poor" construction - on the contrary, they have a reputation of being very responsive and delivering an A+ product.

    As for their model, it is not widely copied, but it is wildly successful.

  4. #4
    Disgruntled Optimist lofter1's Avatar
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    Note that the prior post is the first from nycondoguy -- and apparently he has arrived with an agenda to trash both this development and the developer.

    Perhaps there is something to what he says.

    On the other hand it could be a drive-by situation: someone trying to get back or get even.

  5. #5
    Build the Tower Verre antinimby's Avatar
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    I don't blame nycondoguy at all. The old building this project tore down and replaced was quite elegant and beautiful. It looked like it was still in very good condition, too.

    It's just so unnecessary to raze these older buildings when they could be fixed up and even enlarged if that's what they wanted to.

  6. #6
    Disgruntled Optimist lofter1's Avatar
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    Well ^ OK ...

    But OK only IF nycondoguy had brought up any of the issues you raise.

    He didn't.

    He simply trashed the current project based upon finsihes they are using and other assorted no no's.

    If you're gonna knock somebody have enough integrity to say what you mean.

    It's not like we're using (real) names & (real) photos here

  7. #7

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    I understand that the sales have been nonexistent because the sales center (next door to the building) did not open until about a week ago. People typically don't like to put money down on an apartment without getting to see what the finishes will look like.

  8. #8

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    Quote Originally Posted by Templeton View Post
    I'm surprised by the last post. From everything that is out there, Alchemy's reputation is pristine - Lion's Head, Oculus, Indigo are all top-notch projects that sold out and are now making their unit owners a
    HTML Code:
    tremendous upside in resale (particularly Lion's Head and the Gramercy Tavern building).
    I have not heard anything, ever, and about "poor" construction - on the contrary, they have a reputation of being very responsive and delivering an A+ product.

    As for their model, it is not widely copied, but it is wildly successful.

    (sorry about the bad quote job above)
    Thats fine, but for me I'm sorry I don't share the same sentiment. There are developers who push the envelope with design and finish- look at Extell's stuff down town- look at Elad's buildings, 245 Tenth Avenue I like very much, District in Financial, Peal line lofts, WOO of 200 Eleventh (garage not included), Greenwich St, etc, etc, etc.
    But again, this is a matter of expectations and opinion, I simply was giving mine.

    To be fair, Oculus and Indigo are not done-and their websites finishes look like someone photoshoped the paintscheme (kitchens and baths) and "poof" we have a new project!!! (I can't find any of their others to pull up and share here, but it won't matter anyway)

    Tavern finishes were very nice from what I remember, long time ago.
    Look, all I was saying is that their finishes are outdated in comparison to other developers' current offerings...example? who still uses 3inch oak? Their kitchens are still using the same boxy Viking applicances, (for the money they have better and newer models) as an example.

    Regarding: poor quality, I know for a fact that there are issues in their buildings(completed ones).....and like I said, they are no different in that department than other developers who have been printed in a recent NYTimes article about quality(couple months ago)...which I was referring to. You mentioned reputation for A+ : with who doing the evaluation? I've been to a couple of their buildings- I was not impressed at all, in fact the owners told me that "how sloppy everything was" when they bought/closed, easy fix but still!!!

    Upside in resale Tavern, Lionshead? Ok great, but those where priced and timed well-the current offerings are not even close to the pricing of those, nor are they prewar lofts with high ceilings in good locations. If I were to purchase new construction from them, they would be at the bottom of my list and the price I pay would follow, so that is what my point was.
    Last edited by nycondoguy; April 18th, 2008 at 04:22 PM.

  9. #9

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    Quote Originally Posted by nycondoguy View Post
    look at Elad's buildings, 245 Tenth Avenue I like very much, District in Financial, WOO of 200 Eleventh (garage not included).

    Tavern finishes were very nice from what I remember, long time ago.

    Regarding: poor quality, I know for a fact that there are issues in their buildings(completed ones).....and like I said, they are no different in that department than other developers who have been printed in a recent NYTimes article about quality(couple months ago)...which I was referring to. You mentioned reputation for A+ : with who doing the evaluation? I've been to a couple of their buildings- I was not impressed at all, in fact the owners told me that "how sloppy everything was" when they bought/closed, easy fix but still!!!

    Upside in resale Tavern, Lionshead? Ok great, but those where priced and timed well-the current offerings are not even close to the pricing of those, nor are they prewar lofts with high ceilings in good locations.
    Wow, where to start. First of all, anyone critiquing a developer's finishes by referencing Elad, District and 200 Eleventh has some 'splaining to do. Elad is widely known as building on the cheap - with all due respect, this is probably the most scorned developer in the industry for the cheapness of their finishes - everyone knows this. District has value enginered down to nothing - and the offering plan promises very little that the sales offices is showing. and 200 Eleventh is structurally unsound - not a good place to stash your $$$, even if it is your home and not an investment.

    As for quality of Alchemy, I know for a "fact" that prior buyers are very happy, the buildings completed (to date) are very high quality with impressive finishes and construction. You say that the new developments are not in good neighborhoods? 15th and 5th? 21st and 6th? You may not be a downtown person, but those neighborhoods are prime.

    And you say that the current offerings are not well priced? Alchemy prices below market, dude, you can't find equivalent new construction at $1,100 a foot in prime NYC. You are a hater with an agenda.

  10. #10

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    You are so funny!

    Ok, so apparently you agree with what I said in my earlier post- that these projects (15th, and 21st) are carbon copies of one another, which was actually one of my stronger points on design and finishes....

    http://wirednewyork.com/forum/member.php?u=14470
    #12
    September 27th, 2007, 11:36 AM

    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.


    _______________________________________

    Not much of an expert are you....but you sure have quite a learning curve since what, last year:

    #18
    October 5th, 2007, 09:48 AM
    Templeton
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    Any owner's of Alchemy's other developments out there? Anyone have any thougths on their reputation/finished product/attention to detail?

    ________________________________________

    Anyway....You are seriously misunderstanding my point of view. I was not discussing Elad's or WOO's issues of construction, infact I made reference to issues printed in the NYT and I'm keanly aware of them....but was referencing design/finish dear friend:
    QUOTE MYSELF:
    "There are developers who push the envelope with design and finish- look at Extell's stuff down town- look at Elad's buildings, 245 Tenth Avenue I like very much, District in Financial, Peal line lofts, WOO of 200"
    ___________________________________________

    QUOTE YOU:
    "You say that the new developments are not in good neighborhoods? 15th and 5th? 21st and 6th? You may not be a downtown person, but those neighborhoods are prime. "

    QUOTE ME:
    "Upside in resale Tavern, Lionshead? Ok great, but those where priced and timed well-the current offerings are not even close to the pricing of those, nor are they prewar lofts with high ceilings in good locations. If I were to purchase new construction from them, they would be at the bottom of my list and the price I pay would follow, so that is what my point was".


    All you get from my statement was that 15 and 21 are in bad locations???

    Prewar, great RE market, great timing, AND GOOD LOCATION is a SURE THING and in my opinion tells the tale, not just neighborhood- And my point was that Hudson Hill is vanilla offering, on a vanilla street, with somewhat of a vanilla finish in a highly competitive strained market....

    NO AGENDA HERE PAL though YOU sound too interested!

  11. #11

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    Quote Originally Posted by nycondoguy View Post
    QUOTE ME:
    "the current offerings are not even close to the pricing of those, nor are they prewar lofts with high ceilings in good locations.".
    What is your agenda? You can't compare the prices of a current, on-going conversion with a conversion from 4-5-6 years ago. All you can intelligently do is compare the pricing of an apartment versus the market - Alchemy Lion's Head was priced 10% below market then, and made its buyers a mint. Alchemy Oculus/Indigo are priced 10% below market, and it remains to be seen how they will do - but I'd rather be a buyer there than at a full-price conversion with the same finishes/luxuries at a much more expensive price.

  12. #12
    Forum Veteran Tectonic's Avatar
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    03.21.2010


  13. #13

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    ^ Looks good. Nicely scaled and well detailed.

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