BREAKING: 11 Spring Street Going Condo

1.

American Apparel ads make me feel dirty.

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While SoHo is not going to take the vicious beating that Williamsburg, DUMBO, western Queens and Hoboken/Jersey City will, even Manhappenin' will feel the coming pain. I copied the comment below from the blog linked here, which hits some finer points on owning a condo in a down market.
Comment by Robert Coté
2006-09-27 08:28:47
If you still own a condo for anything except basic housing then the equity boat has already left for distant shores. The overhang of investment beanie babies… err… condos is national. Taxes and dues and insurance kill even the idea of holding. Here’s what’s gonna happen in these Neutron Towers; taxes will explode as homeowners scream for their own relief, dues are going up from inflation, dues will compound as other units default, insurance goes up for all the above. Then the real cost resturcturing begins. You can bet that if your mailing address isn’t the unit both your insurance and mortgage are going to reset to non-occupier rates. I’d rather be forced to own a boat or horse than a condo. You wanna see a real implosion? Wait for a bank to take back the keys to a condo. Trust me the very last thing the VP at the branch wants to explain is writing a check every month to the condo association. Writing down a defaulted loan 50% is an accounting process. Spending, actually spending money, the banks money is just about the worst career breaker possible.

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Listen the building smells so bad...Lachlan was going to have to replace everysingle floor and roof joist. I hink it would make more sense to put the horses back in the building and rent them out than to buy a condo in this building!!!

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I remember when this used to be a pretty sketchy drug dealing corner where Little Italy abruptly stopped and the LES began.

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So this makes the building condo but the street art co-op(ted)?

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brooklynite you are a fucking moron

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Sorry to hear you recently paid "market price" for a condo #6.

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Oh snap!

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I heard it was the same developer as THE CHELSEA CLUB...

10.

sorry to hear you have never bought any propery Brooklynite

11.

hey, i thought i heard there was some kinda distro warehouse in this place... how long has this been abandonded & why? if that's too long for anyone to answer, then any links appreciated to learn what's happened to this cool building. why can't it be a community space? real estate greedy people are ruining this city. they don't need that much money. it's wrong.

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#11, are you serious? Why can't it be community space? Maybe because a private person owns it and the community would have to buy it? Maybe we should turn everything you own into community property because I think you have too much

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#12
You and you're kind are the reason why this city is going to waste. Lets condo the entire fucking city! Lets condo Central Park! We need more housing for upwardly mobile consumer junkies! Fuck families! Fuck community! Fuck diversity! Fuck the poor! Fuck the working class! Fuck any establishment that isn't a corporate franchise! Fuck art! Fuck originality! Fuck humanity! AND FUCK YOU!!!!!!!

14.

TO #13

No one says you have to live here. Go live in Freehold NJ you FUCK. If you cant afford to live here, my tax dollars should not have to subsidize your inability to compete and make more money. What makes a neighborhood good is the removal of people who drain the system. If you want open space go back to school and learn something that will increase your pay and buy something near a park.

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#14 is right on! Part of the joy of living in a city, such as New York, is that it is constantly reinventing itself. It sounds like #13 (aka Rich Bastard) should be living in a communist country where free expression, thought, and capitalism don't exist.

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even new york needs a couple of bumbs. to make the rich guys feel good

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who'd have thunk there'd be so many douchebags from wall street lurking here?

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#17 - I guess you don't remember the Curbed reader income survey from a few months back?

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If you catch a good deal then a condo in NYC is the best low risk investment you can make with your money.

20.

Wall St. is every mans game

The Joysey cold calling brokers make more than Ivy-leagers