Is it within the realm of possibility that there may be buyers who complete the entire purchasing transaction from overseas and never actually see the apartment or building? It is a sponsor unit, so there would not need to be board approval.
shelby, it is very likely this will happen. If I decide not to buy, I don't have to allow anyone inside to see my apartment and any purchaser will have to buy it sight unseen (I think it's because it's a rent-stablized building but I'm not sure). My guess is that they will try to sell the unrenovated apartments (the ones with tenants who aren't going to buy) to foreign investors who often buy blocks of apartments in the same complex. That's why I'm concerned about those apartments becoming airbnb short-term rentals. I'm hoping the board won't allow that.
Edited: But I don't think they would use those renderings to sell the unrenovated apartments; while they aren't the most altruistic of owners, I don't think they are shady enough to do something like that.
Lilybell, is that really true, about us not having to let potential purchasers in to see our apartments? I hadn't heard that. I'm pleasantly surprised, if that's the case. I know there's been a lot of talk about foreign investors buying apartments at WP, but I hadn't thought about the AirBnB possibility. That would suck. It will be a long time before there's a board that has any control over something like that. Or, I should say, it will be a long time before residents can wield any power on the board. Until then, the sponsor and managing agent can pretty much do what they like.
simka - They will probably post the monthly sales document in the lobby this weekend. There's one listed as "in contract" on streeteasy (B Building) and I've heard they sold 3 apartments so far for a pretty decent chunk lower than the asking price. But it's just a rumor.
Yeah, I heard that about the three being sold for lower prices. I wonder how low? And is it even correct to say the apartments have been bought? The conversion won't even be declared effective unless 15 percent of apartments have purchase agreements. Until then, can any of the apartments be considered "sold"? I would think the buyers are in kind of a limbo until the plan is effective.