Recent Sales in the NYT features the Washington
In the section under $600K to $900K recent residential sales, the outer boroughs feature was a unit at the Washington that sold for $669K.One thing of note is the high common charges and taxes -- $789 and $700, respectively. Are these correct? It's definitely a lot higher than the Schedule A, but perhaps reflects the fact that the 421-A abatement hasn't gone through?
Either way, this is a cause for concern if the charges are really that high.
Labels: prospect heights, the washington, washington condos
5 Comments:
that is interesting. There was no 1450 sq. foot 3bd/2ba available, certainly for that price. A3A was a 1275 sq. foot unit for 669k. Nor were the taxes/CC's that high.
How much higher are you CC's than you expected them to be from the revised offering plan? When is the abatement going through? 1489 a month for an apartment in PH is a pretty ridiculous number.
On the other hand, it is probably a misprint.
$1/foot is not crazy at all. After the abatement goes through it will be half of that which is pretty good.
$1 is a reasonable number IF:
1. If we were ta an established, full service building in Brooklyn Heights or even the Slope.
2. we were in Manhattan pretty much anywhere.
But neither of these things are true in this case.
Comps in PH, even in NewCon places like the Washington are on the whole a LOT less.
When Unit B2I (a 2BR for 699k) was for resale back in late January/early February, the CC's were listed at $260. A3A, which is the closest thing to the listed apartment, was listed at 669k and had CC's listed at less than $400. Since these were listed post the start of move ins, I would hate to think that they raised the CC's that much SINCE that time.
I can definately see them missing getting their abatement for this year. High taxes are expected on any new construction and most developments aren't tax abated in their first year because of the filing windows.
This building got their CO sometime in January/February and weren't allowed to sell the mezzanines until now. Possibly the common charges were raised to offset the fact that developer tried to break the law and failed.
$700 a month for apartments that have hvac units in each apartment is outright robbery.
misprint and developer never ever tried to break the law. some people will say anything and could care less about truth .as a matter of fact if you know anythning all unsold units are carried by the developer and thats universal common charges are extremely low. people like to mix scranno with the various daevelopers who have been victimized .
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