We have to admit that we've always had a small crush on 56 Pine. The building has a cool common area, a 421g tax abatement, and does not have the ridiculous financial problems of similarly situated downtown new construction buildings.
We wanted to like this apartment, which we assumed would be selling at somewhat of a discount given it's current status as an "office" for some weird start-up. Although we have heard that buyers are not able to use their imaginations, we never believed it until we walked into this apartment. It was certainly hard to remove the four huge desks in the living room out of our little minds as we tried instead to picture, say a couch and a TV. The bedroom wasn't any easier, as we tried to mentally unclutter away piles of folders and a small chaise lounge.
Overall, this apartment is probably bigger than it feels and seemed like a solid purchase to us. Although $685K is at least near the zip code of something approaching a reasonable price, we think this apartment is far from cheap enough to actually get an offer within say, 20% of the ask.
We still love you 56 Pine and think that you might be one of the few all-owner new construction condos left standing after all of this shakes out.
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I saw a unit in this building, I believed it was 6K and for the price $$$,it wasnt worth the asking given all you saw were the brick wall of the building next door. Although, I saw a rental on a higher floor, and surprisingly enough, for being in the valleys of concrete mountains that is FIDI, there was incredible amount of natural light. When I inquired about it being for sale, they said it was in the 700K, nice! My search continues!
Hey fashionnista - yeah, anything on a lower floor in 56 Pine is pretty dark. What did you think of the sales price/rental price ratio in the unit that you saw? We saw a high floor 1BR in 56 Pine that was renting for $2100 (which was also negotiable) and we imagine that if the same apartment were for sale, it would be listed in the $625k range. That right there basically tells us to hold off on this building for awhile...
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