Recently in Real Estate

Mr. Quadriad in "Identity Crisis"

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Henry Wollman as "Mr. Magoo" in: IDENTITY CRISIS

Mr. Wollman doesn't know what neighborhood he and Quadriad Realty Partners are hoping to build their towers in.... So let the music play....

"Bustling Gardens" Launches Website

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After more than fifteen years in existence, Hudson Heights, and The Hudson Heights Owners Coalition, will now be sharing their territory with another owners coalition in the sub-section of Washington Heights.

The Uptown Current was sent a press release yesterday by Jusky Ding, who is the Co-op Board President of 753 West 178th Street, and the co-founder of newly formed, 5-building strong, Bustling Gardens Owners Coalition. Ding is "thrilled to announce the formation of the coalition," and says it took "nearly a year of planning." 

The new website can be viewed here

Ding, also of the "Friends of the George Washington Bridge Bus Terminal" group, is a regular and outspoken member of the community at the monthly CB12 Traffic & Transportation Committee meetings, and said in a phone call that the coalition would attract "prospective home owners who understand that they are separate from the rest of Hudson Heights."

"These blocks are unique," insists Ding, "and we are hoping people will see that." Fifty years ago, before the Trans-Manhattan Expressway was built, "this area looked just like the rest of Hudson Heights, but now we have a bus station and no one can argue that the station and I-95 don't set us apart." 

In the conversation with Ding, concerns that the owners coalition could be trying to separate itself from Hudson Heights, were raised. 

The Uptown Current called a representative of the Hudson Heights Owners Coalition, who wished to remain anonymous, "[this] is just their way of trying to disassociate themselves from Hudson Heights. It's like what we did with Washington Heights." 

Elaborating, the source said, "It was the 90s! Back then we had real reasons to not want to be associated with our associations."

And the trend may be continuing. 16 Pinehurst Avenue is apparently starting a movement to rename the 4th-6th floors in their apartment building as 'The Bustling-Hudson-Washington Shareholders Association.'" Apparently the group is aiming to market apartments with better light than others within their cooperative as being of higher value, compared to apartments on lower floors. 

None of the shareholders could be reached for comment, though apparently owners on the third floor are arguing with shareholders on the upper floors about being considered for inclusion in the coalition. 

With a push mentioned on their website to have recognize the area as "Busting Gardens," Hudson Heights' sub-map of Washington Heights could soon see a sub-map of its own. 

Cabrini Townhouses Get A (Relatively) Small Price Drop

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18628-0-3.jpgThe Cabrini townhouses, that still have yet to be constructed, have dropped 100k (from $2.95 million to $2.85 million) in price since we last posted about them in January. This 3.4% reduction doesn't seem to reflect recent national luxury reductions, and certainly doesn't reflect recent drops for less expensive properties in Washington Heights and Inwood.

I'm beginning to wonder if any of these will be built without buyers lined up. And with people wondering when the market will bottom out, I'm surprised these haven't come down more in price.

9/16/10 UPDATE: 

I recently noticed that these have now been taken off the market. Presumably they could not find buyers. 

There are a couple things that have always bothered me about this location for the townhouses. First, the lack of sunlight. The artist rendering seems to indicate that there would be plenty of direct sunlight, however the buildings are surrounded from practically every direction the sun could strike by Hudson View Gardens and Castle Village. 

Also, a multi-million dollar private roof deck with no direct sunlight, and with neighbors peering down on you, is a rip off.

Perry Payne Spotting

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I'm not big on celebrity gossip, but CBS News spotted TUC contributer Perry Payne on 181st street Wednesday. Awesome sauce.

Three Luxury Townhouses To Be Built On Cabrini

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18628-0-3.jpgWhy spend millions on an existing townhouse in northern Manhattan, when you can have one built for you? Three new four-story townhouses are coming to 186th street and Cabrini Boulevard. For a cool $3 mil (well, $2.95 mil) you can not only secure one, but also design the interior of your palatial pad.

The three town houses being sold by Nest Seekers International are set for construction in what is currently a vacant lot sandwiched next to Hudson View Gardens. The listing says that the townhouses will each have six bedrooms, three bathrooms, a two-car garage, roof terrace, private elevator and a garden/patio. It is not immediately clear if any of the units have sold. 

I think the last thing I had built for me was the cubano I ate for lunch on Thursday, but if I had the extra cash I suppose I could go for one of these.

NOTE: We have posted an update on the townhouses.