The steel 'n' concrete 205 Water Street, a new 65-unit project from Toll Brothers, has already gotten some raves. But will it be enough to drive prospective buyers at the building?which isn't even officially on the market?into bidding wars? The developer seems to think so! A tipster passes along a memo from the sales office to potential buyers:
Great news! we now have AG approval. I have attached our current availability. Please submit an offer to me via email by 6pm Friday, October 7, 2011 if you are interested in one of the available residences. Could you please also let me know how many parking spaces you are interested in. The cost per parking space is $60,000 with common charges being $53.77 per month and taxes being $13.86 with the 421-a tax abatement and $30.59 without the abatement?.
Once we have come to terms on a particular residence, you will purchase an offering plan ($200, refundable) and complete a reservation deposit agreement. You and your attorney will have 5 business days to review the offering plan and Purchase Agreement, during which time you will have the opportunity to visit the site. "This is why I will rent forever," our tipster concludes. The available unit prices could leave a renter with that impression.
UPDATE: Building reps tell us the price list sent out was an old one; here's the current version:
· 205 Water Street coverage [Curbed]