Washington Plaza

[Lilybell]

Looking at the floor plans, it looks like many of the apartments could easily have an open kitchen by taking down a wall. I just can't see much to get upset about by the renderings.

No one is upset. We are just amused by the discrepancies. You sure do like to play devil's advocate.

[CaptainFlannel]

^you do know what devil's advocate means, right?

Phrases like "The renderings are hilariously out of touch with reality" sound like its coming from someone who is upset enough to engage in hyperbole.

[Lilybell]

This is not hyperbole:  this site has become much less enjoyable since you started posting here.

[CaptainFlannel]

^I'd suggest not engaging if the expression of a viewpoint you don't like bothers you so much. No one is forcing you to engage with me, so do yourself a favor and don't.

[Simka]

^you do know what devil's advocate means, right?

Phrases like "The renderings are hilariously out of touch with reality" sound like its coming from someone who is upset enough to engage in hyperbole.

So only people who are upset use hyperbole?    Anyway. I didn't intended that as hyperbole, because the renderings are ridiculously out of touch with reality.

[hfm]

I'm starting my new Jackson Heights romance novel series with this one....

[Simka]

I'm starting my new Jackson Heights romance novel series with this one....

LOL! Thank you, hfm--you have made my night! 

[rbellber]

Hello LillyBell, the tenants association have an Attorney who wrote a letter to the sponsors Attorney explaining that if the tenants were given a 30% discount on their insider price, many would be interested in purchasing their units. This letter went out last week and so far we have not received a response.
Jackson Heights as you know is the next it place and very in demand because of its many subways lines and relatively quick commute to midtown. Prices have been going up in the nabe so if we can obtain our discount I believe it would be a good opportunity. If you want more info on the status of our negotiations e-mail me anytime.
Thanks
Raf

[CaptainFlannel]

The thing about renderings is that they are almost always out of touch with the current reality. Only a fool would think that every apartment is going to have a Manhattan view. Only a fool would think that every unit is going to match the rendering on a real estate listing for a new build or conversion. Renderings of new builds or new conversions is not terribly different from a model home. If one tours a model home and thinks the quartz counter tops, high end appliances, and hardwood floors aren't an upgrade, that person is either very naive and inexperienced, or the sales person did a fantastically horrible job at explaining what is standard and what is an upgrade.

I just don't think the market is that foolish or naive or comprised of that many giant suckers by and large. I mean, these renderings are so obviously computer generated, I just don't see how a modern buyer could miss it.

[dssjh]

Captain, regarding your comment that you "just don't think the market is that foolish or naive or comprised of that many giant suckers by and large" ... not being sarcastic when i ask, have you been in NYC for more than a decade or two?

i ask, because, for the past 30 or so, i've seen an endless line of suckers line up to have rings put through their noses when it comes to real estate purchases and next big things.

[CaptainFlannel]

^Indeed I have! There are always newbies who are going to fall for such nonsense. Then a quick dose of reality hits, and they aren't suckers next time around. I think those suckers are a small percentage of the market. A small percentage of the market looks like a lot in a place with a large population like NYC. If all one is looking at is the "suckers" and failing to notice everyone else who isn't fooled by an obviously computer generated rendering, of course one is going to come to the false conclusion that people are colossal morons in NYC when it comes to real estate.

[abcdefghijk]

Hey, do folks have any idea how much prices are for apartments in Manhattan and Brooklyn?

Up to double what is being asked here for the same square footage space.

I come from a city overseas where real estate property is now as expensive as Manhattan.

20 years ago only the "desirable" neighborhoods there were expensive.  And then, over a couple of decades, EVERY SINGLE NEIGHBORHOOD skyrocketed.

In the future, even those places in the Bronx (for say $100K at the moment)...will be a case of "if only I would've bought back in 2016."

So, perhaps look beyond our neighborhood (and even research globally) to get a bigger picture of the real estate landscape of NYC and Jackson Heights. 

A rising tide floats all boats. And that includes us in fascinating Jackson Heights.

[Shelby2]

Article in the Real Deal about the Washington Plaza conversion.
http://therealdeal.com/2016/04/18/prices-jump-at-jackson-heights-rental-to-co-op-conversion/

[CaptainFlannel]

A rising real estate tide floats all boats, except the ones of people who can't afford rent or have to save up until they are 40 to buy their first property. Or the couple who is ready to upgrade to a two bedroom, but find they can no longer afford the neighborhood they spent the last seven years in a one bedroom as owners.

Don't get me wrong, as an owner I'm thrilled my investment has appreciated considerably, and I'm happy that New York real estate suggests the value won't decrease. But, I'm not blind to the real problem of the lack of affordable housing in NYC. If we want the businesses and services that make our life nice - restaurants, hotels, schools, taxi drivers, etc. - there has to be a place for the employees of those businesses to live that doesn't involve a 60+ minute commute.

[dssjh]

thing is, you can't have it both ways. you can't have an unbroken expanse of expotentially more expensive condos from sea to shining sea, broken by pocket ghettos of servants and those who were born to "make things nice" for their rulers.