Checking In On Atlantic Terrace
Atlantic Terrace launched 20 market-rate units at 212 South Oxford Street in October after finding residents for the other 59 affordable units. There are residents currently lined up for every affordable unit, with 29 of the 59 of them actually in contract. We’ve also been told by the 5th Avenue Committee that the C of…
Atlantic Terrace launched 20 market-rate units at 212 South Oxford Street in October after finding residents for the other 59 affordable units. There are residents currently lined up for every affordable unit, with 29 of the 59 of them actually in contract. We’ve also been told by the 5th Avenue Committee that the C of O is expected any day, and closings should happen in January. (Once the C of O comes through, the parking garage there will also open up.) The retail space is still available for lease. And as for those market-rate units, four are in contract or have accepted offers. Those are listed through Corcoran, with prices ranging from $385,000 to $1,095,000.
Launch at Atlantic Terrace [Brownstoner] GMAP
three weeks later, it looks like this January closing date is a joke. More realistic is May. I wonder if four market rate apts. are really in contract.
Hey altervoice — what do you mean you walked away from the lottery? Were you lined up for a place?
I haven’t seen my check cashed, but they did just pull my credit. I can’t imagine why they’d do a hard inquiry on my credit unless they needed more people… right?
All new buildings suck. Landmark everything. I love vacant lots. Fight the power. Free Mumia.
Suzanne, the fact FAC cashed your check may be a positive sign. When I walked away from the lottery a few weeks ago, I got back my check uncashed. LBOL is right, and your name may just now be percolating to the top.
LOL @ broadwayron. Best comment of the thread.
-Jimmy
Suzanne, chances are that some of the lined up affordable buyers won’t close due to change of heart, change of finances, change of circumstances, etc. If you’re interested, it’s probably worth completing your application b/c they will probably have to dig into the waiting list to sell all of these. That’s not a statement for/against this building, just how it works. The same things that derail market rate buyers derail affordable buyers.
How much is the maintenance at Atlantic Terrace? Anyone know the range?
If there are residents already “lined up” for the affordable units, why did they just cash my $50 application check last week? After you submit the initial lottery, they send out a letter requesting additional financials — and $50 — if they get to your name on the list. For me, this was just last week. Quite a money-making scheme if they are already full up.
And the maintenance in the lower-priced units (which are not outrageously cheap themselves, though of course they are below market) is quite high too.
It looks like a mental institution.
It is in a very congested area. I couldn’t imagine living any where near Atlantic Yards. Blech !!
The layouts of the apartments are horrible, but that is what i expected.