The Novo Finally Becomes Official!
Big news on 4th Avenue: At long last, people can move into the Novo. The DOB granted the condo a temporary certificate of occupancy on Friday, only a few days before some of the building’s buyers would have been able to walk away from their contracts. It was rumored that the development would not get…
Big news on 4th Avenue: At long last, people can move into the Novo. The DOB granted the condo a temporary certificate of occupancy on Friday, only a few days before some of the building’s buyers would have been able to walk away from their contracts. It was rumored that the development would not get a C of O until its developers finished work on the public playground behind the building. The temp certificate is only good through July 25, and there are still 23 outstanding requirements to be fulfilled before the building is completely good to go. While the playground is still not finished, in recent weeks contractors have stepped up work on the space, and it looks like it should be done within a couple months (see pic on jump). We bet there are some extremely relieved Novo buyers who spent the weekend celebrating.
343 4th Avenue C of O Documentation [DOB]
Should We Feel Sorry For Novo Contract Holders? [Brownstoner]
C-of-O Woes for the Novo? [Brownstoner]
Novo Takes a Nosedive [Brownstoner] GMAP
All you people do is complain!!!!! Where were all of you bleeding hearts and tree lovers when they were robbing these homes and relocating families that have been here for years. I for one am glad that someone with MORE money came along and now you feel the way alot of us felt. Who gives a crap if the building is ugly or not! have you stepped out your door lately to find you self hopscotching all the way to your destination to avoid from stepping in dog crap. NOW that’s ugly!!!!!
I don’t understand the discussion about the retail. Why would anyone care about retail or shops in the building. The neighborhood has plenty.
Also– What kind of an idiot would ever seek to live above a restaurant? It is an invitation to have a mice and roach infestation.
The pricing is great. You can get a new real 3 bedroom in Novo for the price of a 2 BR in the slope that needs to be gutted.
Plus the apartments are a lot nicer than most of the poorly remodeled hosting stock in PS that is priced about $850-900/sq foot. And a garage. And a gym. And a playroom. A no coop people.
RE: Pricing
Novo is going to be worth a premium over the other new buildings going up because of the attached park and PS 321 zoning.
Their high floors w/double balconies were originally overpriced (example: 1100 square feet, 1MM=).
The price cuts bring it in line closer to to the norm, but their are still above the range for closing is between 650.
You should look at the pricing per square foot for the new buildings on 4th.
“Novo… the sale prices were at a serious discount compared to comparable housing stock.”
Ever wonder why? And why they still are having price cuts? And why they still have not come close to selling out the building?
RE: Prices 2:02
Novo owners are going to make a killing — the sale prices were at a serious discount compared to comparable housing stock. I saw a 1100 sq foot place on Garfield that wasn’t nearly as nice (new construction) sold at $1000/sq foot. Although Novo will depress the value of the overpriced units, it is definitely going eventually have to be marked (up) to market toward the mean.
Your all jealous morons
Q: Novo prices out at about $650 per square foot– surround PS 321 houses price out at about $900 per square foot. What are the bets on the impact? Which goes up, which comes down?