Central Park West - Astoria

NEW -> Contingent Buyer Assistance Program
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zovall_IHB

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Has anyone toured the model here yet? Any reviews? I'm planning to check this out soon and I'll update this post with the info I find.
 
I think Lennar needs to have someone tell them that they need to remove the rose covered glasses. I am just now getting around to reading the Register's new home section from Sunday. Also the prices can be found here http://cpwliving.com .

Astoria - 240 luxury condos/towers, 1-3 bedrooms, 1119-3024 sqft, from the $600's.

Chelsea - 98 elegant townhomes, 3 bedrooms, 1702-2389 sqft, from the $900's.

Granville - 125 contemporary soft lofts and townhomes, 1264-1583 sqft, from the $700's

Maxfield - 117 modern lofts and townhomes, 1208-1841 sqft, from the $600's.

HOA dues for the master association will be about $150 but that doesn't include the sub-association for building you live in. Hopefully not nearly as bad as Marquee. Yes there will be mello-roos. One thing I think is really a great idea is Astoria will have a wine vault and private wine tasting room.

They say it is now selling and I wonder how well. By going to www.octowers.com they are priced below the resale market but there a lot for sale. Plus we know that Marquee is over 60% non-owner occupied and Avenue One can't give away the one bedrooms. Add the 14 other projects in works in the area and you have a serious traffic problem as if it isn't already bad enough. Ok enough venting. I think these are really cool but the costs just make my head spin.
 
I couldn't even make it through the whole thing. Me thinks someone (or a few "someones") believed their marketing department's BS.

A "resort residence" in Irvine? Newport, I could see. Irvine, not so much.
 
"lured by the prospect of wine storage" - just curious, is that truly an ammenity you would utilize and would hold much sway over your decision to rent or purchase a place? I've seen communities with wine storage facilities, but i always thought they were a show ammenity that no one really used. Is this not the case?
 
We could make a drinking game video. A shot for every time she uses the word resort. Two sips every time she uses the words stunning, spacious or lush!
 
jcaraway said:
"lured by the prospect of wine storage" - just curious, is that truly an ammenity you would utilize and would hold much sway over your decision to rent or purchase a place? I've seen communities with wine storage facilities, but i always thought they were a show ammenity that no one really used. Is this not the case?
Click to expand...

I was watching worlds most expensive yahts on cable. Number 1 Greg Norman... His boat had this amazing computer controled robotic wine storage system. He has keeps over $100k in the boat. Some people do have wine. As a whole though the US is a beer drinking nation.
 
It's more of a nice add-on. If a home or development did not offer wine storage, it wouldn't be a deal breaker. We have outgrown our current storage capacity, so whenever we see a home with wine storage, one of us asks the other, "Hey did you see this?" Of course, the problem would be solved if we drank more and bought less.

Now that I think about it, I wonder if I can get proper off site storage cheap with the economy tanking. And to be completely random and off topic, I wonder how long it will be before we see creditors seeking a writ of attachment against a wine collection?
 
It was interesting that they had a Dubai (along with a couple of US numbers) phone number at the end. I wonder if this video was designed to sell individual units to oil sheiks or to sell the entire development?
 
Trooper

Good find. Thanks for posting.

I drive by it every day. Still have this huge pit that I am going to guess will be the parking structure

next to the building. With all the empty units across the street at Marquee its going to be tough to

sell this thing in todays market. The video did seem to lend itself more to a rental customer.

Time will tell. But the "Cash Bleed" on this project must be HUGE.

And they are not working very fast to complete it either.

If anyone can find out. I wonder how many have been presold ?

Like a couple of the Penthouse Units to some Oil Sheik ?
 
I think the answer is 0. That agent of lennar infiltrated the thread and clarified that they have filed yellow reports with DRE which allows to go to contract but not to close, and even though a home owner is under contract, they can opt out citing an inevitable change in the docs filed for yellow versus final docs for white. They need white's to make any presales offical.

Mia, let us know how things are going over there. Probably should get approval from your supervisor before you do so this time.
 
Pricing as of 5/2/2009

1 BD: $499,000 - $729,000

2 BD: $645,000 - $1,129,000

2 BD + Den: $926,000 - $1,189,000

Penthouse: $1,599,000 - $2,899,000

HOA 1: $765 - $927

HOA 2: $150
 
asianinvasian said:
Pricing as of 5/2/2009

1 BD: $499,000 - $729,000

2 BD: $645,000 - $1,129,000

2 BD + Den: $926,000 - $1,189,000

Penthouse: $1,599,000 - $2,899,000

HOA 1: $765 - $927

HOA 2: $150
Click to expand...
HAHAHA I'd love to see if the appraisers try to exclude the Korean Tower comps.
 
usctrojanman29 said:
asianinvasian said:
Pricing as of 5/2/2009

1 BD: $499,000 - $729,000

2 BD: $645,000 - $1,129,000

2 BD + Den: $926,000 - $1,189,000

Penthouse: $1,599,000 - $2,899,000

HOA 1: $765 - $927

HOA 2: $150
Click to expand...
HAHAHA I'd love to see if the appraisers try to exclude the Korean Tower comps.
Click to expand...

Wouldn't the builder issue the loans themselves? Don't need comps if they are self-financing.

I still can't get over these HOA fees of a grand a month.
 
Geotpf said:
usctrojanman29 said:
asianinvasian said:
Pricing as of 5/2/2009

1 BD: $499,000 - $729,000

2 BD: $645,000 - $1,129,000

2 BD + Den: $926,000 - $1,189,000

Penthouse: $1,599,000 - $2,899,000

HOA 1: $765 - $927

HOA 2: $150
Click to expand...
HAHAHA I'd love to see if the appraisers try to exclude the Korean Tower comps.
Click to expand...

Wouldn't the builder issue the loans themselves? Don't need comps if they are self-financing.

I still can't get over these HOA fees of a grand a month.
Click to expand...
They can issue the loans themselves alright, but good luck selling them off in the secondary market without a legit appraisal. Do they think we are back in 2005 or something? Let's just get this over with and have the lender/s foreclose and offer up these things as rentals.
 
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