The chatter is building regarding Financial District condo conversion 45 John, and let's just say it's not sweet nothings being whispered in our ears. The old office building getting a blocky rooftop addition appears to be in a holding pattern just as time is running out. A tipster writes:
They have been telling purchasers since August that a TCO was coming 'within 30 days' but every month the date gets pushed back. In April they started saying closings will start in June - of course all purchasers have a right of rescission on July 1, 2009. Many people (including myself) have noted that there have been no construction workers seen at the building in many months. Now, the Downtowny blog notes that the 45 John website is down, there are no signs of human life in the sales office and the building seems to have vanished from Corcoran's website. Well now, this can't be good.
We couldn't pry additional info out of building reps, but the lively StreetEasy comment thread on the building helps clue us in. Eleven days ago, one poster wrote:
The sales office claims all the inspections have been completed and that they are hoping have a TCO soon (by the June 30 rescission date). The lobby doesn't look any different than it did a month ago and there hasn't been any workers onsite in weeks. Also, if closings are really expected to begin soon, you would think they would send 30 day letters to buyers on floors 4-9 so they can start closings right after the TCO is obtained. I would also expect some open houses and PR push if closings were near - instead, I have seen no open houses in over a month and the sales office has been closed. Bottom line - I think claims of a TCO coming by the June 30 deadline are BS.Other commenters echo the lack of visible progress on the building as well as silence from the sales team. Will buyers be able to walk? We should know next week, but for now StreetEasy's 45 John page has the in-contract units preserved for perusing.
· Hello, 45 John? Is anybody home? [Downtowny]
· 45 John coverage [Curbed]
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