500 Fourth Avenue Sees Most Spring Contracts

“it’ll only cost me an extra $250 for monthly outgoings (before tax deductions). Not bad I say.”

Not bad if you ignore the effective monthly cost of net loss from depreciation divided by months between purchase and resale (downpayment goes poof!). Forget renting out – those fundamentals are way out of whack. Good luck anyway.

***Bid half off peak comps***

SG-

kudos for fending all by your lonesome. Not knowing enough about the building in question, I will have to speculate (much like everyone else here) and say that it seems better overall than most on 4th ave.

Don’t expect anything positive from the self-proclaimed know-it-alls that is Brownstoner’s active commenting community. Do expect to be called a shill (as you found out the hard way) or a racist (as I found out the hard way). Good luck with your new place. While I probably don’t share your sunny outlook on the NYC real estate from the return on investment perspective (at least in short term), if I were looking to buy today I would give 500 4th ave a very close look.

The location of the Baltic Tower is good. But for the price I wasn’t convinced by the standard of finishes in the apartments, there’s only a central laundry (for me my own washer/dryer is important, although not for all people) and additional amenities including a doorman is always a bonus. Love Boreum Hill, which is also a sure-fire investment. Not surprised these are selling – yes, it’s always much better if a building is move-in ready.

Wow! It just dawned on me that there’s no room for optimism on these comments pages. That is a real disappointment!

I’m not connected with this development in anyway except to be a genuine purchaser.

It’s a real shame you have such a low opinion of your immediate and surrounding neighbourhoods, as well as such an obstinate disapproval of anything and everything to improve them. Most of you have nothing to say except negative empty comments and to personally attack an individual who has a positive outlook.

Granted, a lot of the new architecture is certainly unimaginative and the street-level isn’t being considered anywhere near enough. Plus, 4th Avenue is quite ugly. But your overly personal attacks on any contrary viewpoint is astounding. I did a little back and forth because I thought someone was joking around with a play on words and thought it fun … but my goodness, I’m shocked.

Unless this really is just a game and I don’t get it – hobbyists? Do you have a table of points for each sting (bzzzz)? Hmmm.

Many people purchase properties for a whole bunch of different reasons. Out of everything I’ve seen, 500 4th is the best for me, it’s in my personal price range, it ticks my personal check-boxes and it’s the only building where I haven’t walked about finding all the faults. I’ve been there three times to determine this, inspected the actual space I’m buying (with hard hat admittedly) and I like it.

As for pricing, I’ve done my own comparisons and read the quarterly reports for value of square footage blah blah blah. At the end of the day, anything is only worth what someone will pay for it. The obscene prices in the past is a testament to that. I’m prepared to pay for an apartment that costs less than $600 per square foot – which is what I’m getting at this place.

Right place, right time, right location (well location isn’t totally perfect, but I can live with that … ).

Just hope those new rules of Fanny Mae don’t upturn the process. I guess if a lot of people get caught up in that then you lot can hark on about how places went into contract but didn’t close for all of your own distorted reasons.

And I don’t think I’ll get stung, my attorney will be doing their due diligence on my behalf and, any red flags … I’ll be outa there. And you can be real pleased about that because there’ll be another failed condo to rant on about.

Signing off. SG