Karl Fischer Row is Coming Along...Slowly

1.

and yet beauty addiction soldiers on . . .

2.

I like them actually. Better than what was there, or building those new ghetto single family homes with front yards and parking. But yeah why is taking so long to finished this buildings?

3.

The burnt orange brick was a bad decision.

4.

yeah, the one on the left looks nice but what is it with developers and orange-peach brick?! Is there a 30% ugly discount on that color?

5.

I don't like the orange brick, but that building is GOING TO HAVE A CLOCK TOWER! That's awesome.

6.

Shared balconies really blow. They should be outlawed... but then only outlaws would have shared balconies.

7.

Love the idea of the buildings overlooking the park. I'm looking forward to buying one of those condos. Any info on when sales are opening?

8.

Any info on pricing or what's availble?

9.

much rather live on bayard overlooking the park than in a prefab toll bros building

10.

God will these ever be finished? How are sales in each of these buildings? What's the construction holdup? Sales lagging or just non-motivated builders?

11.

has the project been approved? any info on the prospectus

12.

any one have info or a number to call for sales info. I have been trying to get info for months. I want to live there!

13.

The Developers Group is selling the middle building (30 bayard) and the conversion on the corner (50 bayard). I called for information on 50 bayard, but the broker didn't know anything about it. I don't know who is selling the ugly orange one though. God help 'em!

14.

Re:9
These buildings are no less "pre-fab" than the Toll Bros. projects, they are just of much shoddier quality. Anyone who has been inside them (myself included) can tell you these developers are cutting so many corners with shoddy construction. I can't believe people are paying so much money for construction this bad! My friend bought in a Developer's Group bldg. near the park and within a few months his floors had buckled and some of the kitchen cabinets had broken.

15.

#14, you get what you pay for! What would you expect with a

16.

The smaller funky green building on the right is being marketed by aptsandlofts.com. There is one unit left and the building is complete and ready for move-in. They also have a building on the park called AQUA that is 60% sold, but I'm not sure if it is pictured in the photos above. There's also a 3rd that I think is almost complete called Manhattan Park. The website indicateds that it is 80% sold. See them here:

http://www.aptsandlofts.com/index.cfm?page=Dev

17.

What constitutes floors becoming "buckled"? Seriously, I am curious. Please inform.

18.

They probably mean cupping. See post #3 here:
http://www.curbed.com/archives/2006/04/05/glass_is_the_new_brick.php

19.

karl fischer and his "associates" should hung by their toenails from the clock tower at high noon for defacing the brooklyn skyline with such horrendous monstrosities.

he's a hack...straight up...and his buildings are taking so long because they are trying to jerryrig the structure mid-construction to prevent them from falling down before they're even completed.

buy a place in his one of his buildings at your own peril to your pocketbook. and if you walk near one, be like chicken little and watch the sky above you.

20.

I actually like these buildings, let's face it, this area is pretty shabby. I mean, some of the houses have vinyl siding and are probably from the 50's and 60's. The whole area needs a face lift and these buildings are a start. I know some of the 'hip' think these suck but that's just cause they are transplants from the Midwest and like the "old town" feel that vinyl siding brings :D

Anyway, it's true, these are WAY over priced because of the housing bubble and how willing people were to signing those "creative financing" mortgages. The good news is that lending rules are tightening up and those who are out on contract right now will reconsider since these and all others in the area will lose value as much as 50% in the near future. The market is really on shaky grounds right now so if you've decided to buy, stop and wait about a year or two. You don't want to jump on a 500K mortgage only for the property to loose as much as 50% of value in the first few years.

But anyone willing to buy, these are not worth more than 75 to 125k per unit to build, maybe less and is why they aren't "built like they used to be." Anyone paying 500k and up for anyone of these is a fool plain and simple.

The median income for this area is around 40k a year, housing should cost no more than 4x that so "luxury" should maybe be 100k above that or 260k and no more. Negotiate or walk away, it's that simple. If you don't bring these prices down, the market downturn surely will.