47 minutes ago
Wednesday, May 6, 2009
Apparently, we are not the only people that have had problems with a leaky ceiling at uber-expensive Tribeca conversion 78 Leonard. A reader today writes that they "lived on the top floor (duplex) of this building 6 years ago and the roof leaked so severely then that there was water all the way down to the floor below -
my guess/fear they'll just patch the roof and leave the new owners with a special assessment surprise!"
Sunday, May 3, 2009
We have always been curious about this set of loft buildings located in a cute part of Tribeca near our favorite speakeasy hangout. When we walked in to the completely under construction entrance (45 John anyone?), we thought that we would be whisked right up to some goofy showroom where we would sit through yet another "conversation" about:
- what our needs are (just show us an apartment)
- the lending situation (we know you're flexible on price)
- how it's a great time to buy (we know you're flexible on price)
Instead, much to our amazement, we were told by the doorman to sign a construction waiver and then proceed to the elevator. We were handed a sheet of paper with a bunch of unit #s and prices and...that's it folks. For the next hour, we roamed completely unattended through floor after floor of fascinating old loft units. It was like poking through an old haunted mansion - you never quite knew what you would find behind each door.
Fortunately, in one unit, we actually ran into a Brown Harris Stevens agent, who informed us that The Tribeca Lofts are a "conversion" from rental units to sales (even though the building basically just looks abandoned) and that we can choose to buy units "As Is" (abandoned) or "Finished" (around $300k more). As you can see from the photo of the leaky ceiling (yes that's a garbage can collecting rain water) above, the units are in various states of repair. Despite some leaks, we loved the location here and the units are large and laid out quite well (particularly the enormous lofts on the 5th and 6th floors that really feel like houses). Although we don't think there are any "view" units in these buildings (view choices are a dark ugly building very close to your windows or a dark ugly building further away), the ceilings are magnificent and the windows in some units are truly spectacular.
Unfortunately however, we cannot find a single recorded sale in this building (even though BHS tells us that there were two sales and that occupancy will happen "very soon") and the 9 apartments that are supposedly in contract are also nowhere to be found.
We'll keep our eye on these lofts, which we hope will start selling...otherwise, back to rentals they go (we think).