|Zaha Hadid’s 520 West 28th Street|
Some anticipated and current new developments include The Woolworth building, the MoMA tower, Zaha Hadid's High Line condos, Ben Shaoul's Verizon building conversion, the Hudson Yards neighborhood, The Chatsworth conversion and Riverside Center, the final piece of the Riverside South community.
21st Century Designed. Modern room proportions, high quality materials, and windows that maximize light and air add up to a home that complements your lifestyle. Many new homes are healthy homes with green features.
Green features make your life healthier, and energy efficiency benefits you and the environment. Brand new apartments are outfitted with top of the line materials, the most up to the minute technology, and all the little extras that make life easy. Move in and build a new community with your neighbors.
How to buy in a NYC New Development:
Easy to purchase. Benefit from a hassle-free purchase process with no board packages, interviews, and use your residence however you want—live, rent, or pied-à-terre.
Once an offer is accepted by the Sponsor, The Sponsor's attorney draws up the Purchase Agreement. The Purchase Agreement and Offering Plan are then sent to the purchaser's attorney for review.
|Chatsworth Apartment conversion 340 West 72nd St.|
Once both parties have signed the Purchase Agreement and the Sponsor receives a deposit, the residence is considered "in contract."
A Sponsor can only send out one contract per unit at a time for a New Development deal.
This can be to your advantage to get a contract out on a property you may be interested in. If you change your mind you can easily withdraw offer.
If you’re facing a river or a park you are most likely safe of nothing going up around the area you are purchasing. If you are worried about views and are willing to spend a little extra money you can get the proof at least for the near future because a view can not be protected or guaranteed without owning the air rights.
Contracts are not very transparent, buyers need to get the right attorney and mortgage broker involved, it is very important to get a mortgage person that can finance in a new building. Everything has to be quick.
It is important to have an experienced buyer's broker represent you in New Developments. On-site sales agents represent the seller/sponsor/developer's interests.
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Blogging about Manhattan Real Estate since 2006
Mitchell Hall (Licensed as Mitchell J Hall)
Licensed Associate Real Estate Broker
Call Mitchell Hall @ 347-921 HALL (4255)