Wednesday, February 27, 2013

Would you pay $1.38M to live along the Flushing River?

From The Real Deal:

The final tower at Sky View Parc, the massive mixed-use project looming over Flushing, Queens, has hit the market, representatives for developer Onex Real Estate Partners, confirmed to The Real Deal today.

The tower, known as Tower 2, holds 134 studio, one-, two- and three-bedrooms over 17 floors, including 22 penthouses, according to a spokesperson for Onex. Helen Lee, a director with Onex, said that 32 percent of the available units were in contract within four hours of the soft sales launch. Onex has marketed apartments at Tower 2 by word of mouth for about the last five weeks, but began officially marketing the condominiums this week.

It seems the tides have turned for the mammoth project, which struggled in recent years, as lawsuits and the recession plagued the development, which reportedly cost an estimated $1 billion to build. In tandem with the 800,000-square-foot mall below, called Sky View Center, the project is the largest mixed-use development in Flushing.

Condos at Tower 2 start at $325,000, a statement from the developer said. The most expensive unit listed so far is a 1,653-square-foot three-bedroom, three-bathroom asking $1.38 million, according to Streeteasy.com.

45 comments:

Anonymous said...

Only some dumb Chinese...with delusions of grandeur...who fancies himself a wanabee war lord of the Floo-shing prefecture...would think that living in a tower over a river of floating shit lumps...would turn his pipe dream into reality.

The Flushing Phantom said...

Let's list some of the "wonderful" amenities:

#1.
"Fragrant" view of the Flushing Creek at low tide.
#2.
Vehicle noise and exhaust fumes wafting up from the Van Wyck Expressway.
#3.
Endless rumble of the #7 train.
#4.
La Guardia Airports picturesque jet flights overhead.
#5.
And the "Parc" view isn't really a park view.
(Central Park West offers a real park view).
#6.
Conveniently located across the road from the Bland low income projects.
#7.
Living above the store (retail establishments).
#8.
Surrounding traffic congestion.

I'd say that's worth at least a $1.38M investment.

Anonymous said...

The only folks buying here are the lower class Chinese buyer reaching for the brass ring. Not the educated and savy Chinese with money - they would't get caught dead anywhere near Flushing.

So what does a buyer get here? The 7 train rumbling past their window 24x7. The view of concrete plants and businesses such as Home Depot and live poultry markets. The smell of Flushing sewerage & cesspool in the summer. An address that looks out onto the commercial College Point Blvd. A building that is situated on top of a downscale mall with unbearable traffic. The building construction is the worst cheap kind - that looks as if it was built in 5 minutes - it was and finally this building is in the flight path of Laguardia Airport - with jets rumbling over 100s of times per day! As a bonus visitors and residents hoofing to the building must pass the gauntlet of the housing projects across the street. This building is truly amazing!

Anonymous said...

You left out the cement dust from down the block. That part of the FluShing is most polluted in all on NYC!!!! Say hello to lung cancer!

Anonymous said...

The guys buying this are from China. Everything that you list makes little concern for them as that country is the wild west of development.

The opportunities that NY provides are enormous.

Anonymous said...

You guys can laugh all you want but I pat the back any mentally addled individual who lays out the $1++ million for the penthouses.
It just makes our Queens properties worth more.

By the way, is the chemical contamination left by Con Ed hurting the sales? Does anyone even ask? And is the mouse and rat problem still present?

Anonymous said...

....and the shuttle bus to casino..
These will become flophouses in no time.
Owners will rent them to as an any illegals they can cram into these units....think Chinatown slum...

The Nose said...

Don't look down, and don't inhale.

Anonymous said...

salespeople aren't allowed to mention the chemical spills...to prospective buyers.

Anonymous said...

You left out the Jet Fumes, from jets flying above from LaGuardia, but who's counting.

Anonymous said...

How about the stench of manure in the parking lot?

Anonymous said...

Anonymous said...
How about the stench of manure in the parking lot?
----------------------------------------------------------
Shulman has to park her car somewhere!

Anonymous said...

Maybe Peter Koo can be persuaded to up his Port Washington home in favor of living in the tower.

Oops...did imply that NYC Councilman Koo not only lives outside his district but out of NYC entirely?

You bet I did! Follow him home one day on the LIRR.
I've spotted him there on my way to Manhasset.

Anonymous said...

Uh BTW...
long before this was a Con Edison site it was the home of Remington typewriters.
Lots of nasty stuff still down there that has not been remediated!

Then there's the old oil refinery further south that still leaches toxins into the waters.

To a nation that feeds its babies Melamine laced milk, the Chinese don't really give a damn what they do or where they live.

Anonymous said...

Yes, most units are sold to Chinese people and most of them are paying cash! They are so rich! Amazing! Also, many new developments around skyviewparc, such as 1 fulton square, 2 fulton square, flushing common, such and such..... I think that they are building a Hong Kong here. I don't think they are dumb, just something you may not know of!!!

Anonymous said...

By years end all those new CBTC 7 trains will be runnig every 20 seconds. Wanna buy some earplugs?

Anonymous said...

Maybe these people aren't rich at all, but they're acting as fronts for Chinese tongs.

Paying cash is a way of laundering overseas or domestic money for various uses in the USA.

Anonymous said...

The Hong Kong they might be building started off as Huang (as in Tommy) Kong!

Anonymous said...

Flushing is a ghetto.
It's a far cry from the much better looking Hong Kong,unless you're one of the boat people who live in HK's harbor.

A lot of the Chinese who are buying these condos are real estate speculators who then rent them out.

Some of these speculators may actually be living in Hong Kong. I've already met some of these types of well off buyers.

Why would any Chinese of means want to settle in among the low class filth and congestion that abounds in downtown Flushing?

These conditions they could get by remaining in China.

Anonymous said...

This Oriental CASH PAYING myth has been circulating for decades.

On a few rare occasions this might have been true.

As a former real estate agent, I can tell you that I've called many a bluff of Asian buyers who have offered cash as a way to trying to knock off $100,000 from a home priced at $980,000.

When they'd offer cash, I told them I'd arrange the closing for 2 days hence.

They often declined, noting that they'd need a about a month.

In reality, they were shopping for a mortgage!
They had no cash.

These offerings of shopping bags full of money have been mostly tall tales!

Anonymous said...

A lot of the Chinese who are buying these condos are real estate speculators who then rent them out.
----------------------------------------------------------

True that!!!

Anonymous said...

"Paying cash is a way of laundering overseas or domestic money for various uses in the USA."

Right, because they show up with a briefcase full of hundreds. Silly person.

Anonymous said...

I went there today, it is not as bad as u guys said. U guys should take a look first before making comments.... It is beautiful and meet many "green" requirements... I think New York should have more of this kind of buildings. So we will have a real sustainability city.

Anonymous said...

Actually there's a much more sophisticated way of laundering money through real estate investments.
The old ways of using cash is too easily red flagged by homeland security, etc. these days.

Flipping properties several times is much more subtle.

Anonymous said...

I know many doctors, lawyers, engineers, Wall Street investors and other high income people are living at skyviewparc. Are they all dumb? Don't judge a book by its cover!

Anonymous said...

Doctors and lawyers and Wall Street investors?

Sounds more like ambulance chasers, Medicaid fraudsters and inside traders, who are most likely, bilking their own countrymen!

That's how they got rich.

C-mon, you (Asian?) sales agent, come up with a better line of dragon crap!

Anonymous said...

You guys can laugh all you want but I pat the back any mentally addled individual who lays out the $1++ million for the penthouses.
It just makes our Queens properties worth more.

I agree - it's holding up our home values along with the rest of the NYC market - as long as you and now we on this blog know what that property is about - the worst kind to live in yourself - as for the resales in those units - good luck!

Anonymous said...

Chinese business owners often do pay cash for real estate, because the money is pooled within families and community groups. It's not a myth.

Anonymous said...

YOU ARE A MYTH!
You are a real estate shill!

Fong Kool said...

The chinese are expert launderers.
This time it's money instead of shirtie.

No tikee with money. No IRS looking up your ass.

Anonymous said...

The real estate values in northeast Queens were always good....long before the Inv-Asian.

Which tong is buying the penthouse for a million plus?

Anonymous said...

This will be a company crash pad to house transient mid level managers who commute between Taipei and NYC.

The Japanese did the same 40 years ago in Flushing.

Anonymous said...

Chinese businessmen are used to living in close quarters amid squalor. I'd prefer the Shearaton.

But a company buying a suite in Sky View Parc is cheaper in the long run.

Anonymous said...

Seems like, rich people love skyviewparc. Poor people hate it alot.

Anonymous said...

"Chinese business owners often do pay cash for real estate, because the money is pooled within families and community groups." How come my families not lend me a penny, i want to be chinese then.

Anonymous said...

, CHINESE, CHINESE, CHINESE,CHINESE.
Many years ago, they were poor! But now... damn, they are XXX rich.

Anonymous said...

Sound like, most Chinese are living in Flushing. Should I buy one for rent then?

Anonymous said...

C'mon Chop Stick Joe...rich Chinese live in places like Scarsdale not the Floo-shing colony.

Maybe wannabee pretend rich Fujianese aspire to live atop a crap heap in Sky View parc.

Anonymous said...

Onex has reached a dead end if their trolls have to post sales pitches online.

Honestly whatever your nationality...would you piss away 1.8 million dollars for a shoddy shit pile?

There's a fabulous Tudor mansion for sale in Broadway North Flushing on 35th Avenue for that same amount.

Anonymous said...

I think some people are making stories here and some of them are telling the fact. Hard to judge!

Anonymous said...

It's easy to judge truth from fiction.
What is the occupancy rate at Sky View Parc?
Not as good as Muss had hoped!
They almost went belly up!

Anonymous said...

Hey, go to this website streeteasy.com , then u can see how many sold units at skyviewparc.

Anonymous said...

I laugh my ass off when I read some of these comments from obvious racist sour grapes. I have visited the building several times, it's really not nearly as bad as some of you described, certainly not a "shit pile" as one particular eloquent poster repeatedly suggested. It's got a roof top garden, BBQ stands, 2 tennis courts, basketball court, running track, huge state of the art gym, hi tech windows that blocks out road noise, many units with spectacular views of manhattan skyline and Citi Field. Even the housing projects is not that bad anymore since there are a lot of foot traffic on that section of Roosevelt due to the mall and surrounding developments. With Willets Point redevelopment and associated treatment of the Flushing river, this may turn out to be decent place to live. I guess certain people just have the urge to knock on something they don't understand or fell threatened by. The bias and ignorance they show is incredible.

Anonymous said...

"this may turn out to be decent place to live."

Thanks for confirming that it currently isn't. And why not mention the smell if you're going to be so comprehensive?

Anonymous said...

Flushing is a ghetto.
It's a far cry from the much better looking Hong Kong,unless you're one of the boat people who live in HK's harbor.


Flushing isn't a ghetto. Have you ever walked in a ghetto before? Do you even walk?

Why would any Chinese of means want to settle in among the low class filth and congestion that abounds in downtown Flushing?

Firstly, have you ever been in Manhattan? Most of it is surrounded by traffic. The sound of buses, honking, and garbage trucks is ridiculous. Secondly, "low class filth"? I can tell you are probably a spoiled Chinese drone. It is people exactly like with your attitude that the communist were able to win over China.