Recent market conditions would indicate that there is no time like the present to buy in New York. Rental vacancies are at record lows (one report shows a vacancy rate of only 1.4%), and such scarcity can’t help but drive rents up. Meanwhile, although the stock market recently rallied to reach record highs, there is still a bit of anxiety surrounding the forthcoming presidential election (to put it mildly), and Manhattan real estate has historically proven to be a safe investment.
It is against this backdrop that new Kips Bay condominium 609 Second Avenue is gearing up for a sales launch. A registration site has recently launched, and a recent site visit saw netting off the building, which towers over its nearest neighbors and boasts a multi-hued facade with copper-toned accents, indicating that occupancy may not be far behind.
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The oversized windows and curved balconies are already evident, but few details are available on interiors by ODA as of yet. The 65 studio to two-bedroom units will span no more than five units per floor up to the 14th floor, and floors 15-18 will house full-floor penthouses (as per building permits). A well-thought amenity package is set to include a garden courtyard, a roof terrace with outdoor kitchen, a lounge, a fitness center with yoga studio, and indoor basketball court.
An offering plan with a $105,165,800 sellout was filed in November 2023, but has not yet been accepted. As per New York law, sponsors are required to get 10% of their units in contract for their offering to go into full effect; as such, it is not inconceivable that they might offer early buyers some sort of special presale deal.
Such a thing would not be unheard of to sweeten the deal for prospective buyers. Not only is New York notorious for its high sticker prices, but closing costs can add up quickly, and monthly fees can also prove costly. Developers recognize this and are sometimes prepared to offer concessions to help with this.
Moreover, individual sellers are also willing and able to offer buyer concessions. Sometimes they offer something similar to what a building sponsor might (e.g., a year of free common charges), while others offer a concession unique to the building (e.g., continued payment of the remainder of an assessment, a credit to offset especially high monthly costs). Below, we look at individual listings and whole developments offering special buyer incentives.
Individual offers
One Essex Crossing, #7J
$1,395,000
Lower East Side | Condominium | 1 Bedroom, 1 Bath | 778 ft2
12 months of common charges paid by seller
One Essex Crossing, #7J (Corcoran Group)
272 19th Street, #5
$795,000 (-6.4%)
South Slope - Greenwood Heights | Condominium | 1 Bedroom, 1 Bath | 808 ft2Seller is offering concession to buyers for interest rate buy-down
272 19th Street, #5 (Corcoran Group)
10 Sullivan Street, #10A
$9,299,000
SoHo | Condominium | 3 Bedrooms, 3.5 Baths | 2,950 ft2Seller is offering three months of paid common charges
10 Sullivan Street, #10A (Brown Harris Stevens Residential Sales LLC)
Sutton House, #4EA
$539,000
Beekman/Sutton Place | Cooperative | 1 Bedroom, 1 Bath
Estate offering to pay first year's maintenance
Sutton House, #4EA (Brown Harris Stevens Residential Sales LLC)
Netherland Gardens, #4B
$165,000
Riverdale | Cooperative | 1 Bedroom, 1 Bath | 750 ft2
Seller offering a $5,000 concession at closing
Netherland Gardens, #4B (Brown Harris Stevens Riverdale LLC)
The Stanhope, #16
$24,250,000
Carnegie Hill | Condop | 6+ Bedrooms, 6+ Baths | 8,360 ft2
Seller is offering a concession on monthly maintenance for up to two years
The Stanhope, #16 (Corcoran Group)
5 Fordham Hill Oval, #11A
$150,000 (-11.8%)
Bronx Other | Cooperative | 1 Bedroom, 1 Bath
$32,000 seller's credit or concession offered
5 Fordham Hill Oval, #11A (RED Sparrow Realty Group LLC)
The Studio Building, #89B
$3,995,000 (-19.3%)
Lenox Hill | Cooperative | 4 Bedrooms, 2.5 Baths
6-month maintenance concession for anticipated renovation
The Studio Building, #89B (Brown Harris Stevens Residential Sales LLC)
The Norville House, #6FS
$1,079,000
Greenwich Village | Cooperative | 2 Bedrooms, 1 Bath
Monthly maintenance noted in listing reflects a $25,000 concession from seller to buyer at closing to apply to and reduce four years’ of maintenance costs
The Norville House, #6FS (Platinum Properties)
The Luxe, #3G
$510,000 (-1.9%)
Midwood | Condominium | 1 Bedroom, 1 Bath
Offering a concession that could lower your mortgage rate
The Luxe, #3G (Corcoran Group)
The John James, #3B
$619,000
Washington Heights | Condominium | 1 Bedroom, 1 Bath | 853 ft2
Sponsor will pay the entirety of a assessment linked to Local Law 11 work on the building
The John James, #3B (Brown Harris Stevens Residential Sales LLC)
London Terrace Towers, #18C
$1,100,000 (-2.2%)
Chelsea | Cooperative | Studio, 1 Bath
Seller will pay buyer's co-op transfer fee at closing
London Terrace Towers, #18C (Douglas Elliman Real Estate)
25 Parade Place, #3L
$450,000 (-4.1%)
Flatbush | Cooperative | Studio, 1 Bath
Sponsors are offering to convert to a junior one-bedroom
25 Parade Place, #3L (Weichert Properties)
Coda Condominium, #7H
$1,150,000 (-11.2%)
Gramercy Park | Condominium | 1 Bedroom, 1 Bath | 748 ft2
Seller to cover mansion tax for contracts signed before July 31, 2024
Coda Condominium, #7H (Compass)
100 Avenue A, #2B
$1,150,000
East Village | Condominium | 1 Bedroom, 1 Bath | 676 ft2
Rate buydown to 4.5% for contract signed by July 31, 2024
100 Avenue A, #2B (Compass)
Building-wide incentives
90 Units | 38 Stories
One-bed for $1,749,000 | Two-beds from $2,190,000 | Three-beds from $3,495,000 | Four-bed for $4,795,000
Sponsor offering 24 months of common charges for all contracts signed by July 31, 2024
77 Greenwich Street, #32B
$2,995,000
Financial District | Condominium | 2 Bedrooms, 2.5 Baths | 1,487 ft2
Sponsor offering 24 months of common charges for all contracts signed by July 31, 2024
77 Greenwich Street, #32B (Christies International Real Estate Group LLC)
222 East Broadway
70 Units | 30 Stories
Studio for $799,000 | One-beds from $1,100,000 | Two-beds from $1,955,000 | Three-bed for $2,875,000 | Four-bed for $5,495,000
Sponsor offering five years paid common charges for a limited time
222 LES Tower + Lofts, #19B
$1,345,000
Lower East Side | Condominium | 1 Bedroom, 1 Bath | 709 ft2
Sponsor offering five years paid common charges for a limited time
222 LES Tower + Lofts, #19B (Corcoran Sunshine Marketing Group)
244 Units | 61 Stories
Two-beds from $2,600,000 | Three-beds from $2,999,000 | Four-beds from $5,900,990
Limited time buyer incentive
130 William, #L59B
$5,400,000
Financial District | Condominium | 2 Bedrooms, 2.5 Baths | 1,509 ft2
Limited time buyer incentive
130 William, #L59B (Corcoran Group)
350 Units | 36 Stories
Studios from $670,000 | One-beds from $625,000 | Two-beds from $1,550,000 | Four-bed for $4,995,000
Sponsor concessions and common charge credits on contracts signed by Labor Day
75 Wall Street, #PHL7
$1,799,000 (-10%)
Financial District | Condominium | 2 Bedrooms, 2 Baths | 1,455 ft2
Sponsor concessions, common charges on contracts signed by Labor Day
75 Wall Street, #PHL7 (Platinum Properties)
29 Units | 18 Stories
Three-beds from $4,795,990 | Four-beds from $9,985,990
Transfer taxes, mansion taxes, and two years common charges paid by sponsor
40 East End Avenue, #PH15
$11,950,000 (-7.6%)
Yorkville | Condominium | 4 Bedrooms, 4.5 Baths | 3,645 ft2
Transfer taxes, mansion taxes, and two years common charges paid by sponsor
40 East End Avenue, #PH15 (Corcoran Sunshine Marketing Group)
260 Rockaway Avenue
8 Units | 4 Stories
One-beds from $499,000 | Two-bed for $774,968
20-year tax abatement in effect
5.75% financing available for qualified buyers
The Rockaway, #4A
$599,000
Crown Heights | Condominium | 1 Bedroom, 1 Bath | 697 ft2
20-year tax abatement in effect
5.75% financing available for qualified buyers
The Rockaway, #4A (Serhant LLC)
618 Avenue H
43 Units | 8 Stories
One-bed for $520,000 | Two-bed for $706,000 | Three-beds from $875,000
Sponsor offering to buy down your rate by up to 3%
H70, #6B
$1,111,000 (+1%)
Midwood | Condominium | 3 Bedrooms, 2 Baths | 1,107 ft2
Sponsor offering to buy down your rate by up to 3%
H70, #6B (Corcoran Group)
1437 Hancock Street
18 Units | 4 Stories
One-bed for $695,000 | Three-bed for $1,100,000
Sponsor offering 50% credit on taxes for first 3 years
5.875% financing for qualified buyers available through Valley National Bank Community Plus Program
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Hancock Jefferson, #GDNC
$695,000
Bushwick | Condominium | 1 Bedroom, 1.5 Baths | 827 ft2
Sponsor offering 50% credit on taxes for the first 3 years
5.875% financing for qualified buyers available through Valley National Bank Community Plus Program
Jefferson Hancock, #GDNC (Serhant LLC)
107-02 Queens Boulevard
74 Units | 10 Stories
Two-beds from $1,098,000 | Three-bed for $1,695,000
Concessions on select units
BLVD, #5G
$1,245,000
Forest Hills | Condominium | 2 Bedrooms, 2 Baths | 1,134 ft2
Concession available on select units
BLVD, #5G (Modern Spaces)
4 Units | 4 Stories
One-bed for $1,595,000 | Two-bed for $1,395,000
Sponsor is offering a 1% credit at closing to cover your mansion tax
96 16th Street, #1
$1,595,000
Gowanus | Condominium | 1 Bedroom, 1.5 Baths | 1,538 ft2
Sponsor is offering a 1% credit at closing to cover your mansion tax
96 16th Street, #1 (Corcoran Group)
20 River Terrace
293 Units | 27 Stories
Studio for $855,000 | One-beds from $920,000 | Three-beds from $2,550,000
12 months paid maintenance on contracts signed by September 1, 2024
The Solaire, #4H
$1,180,000
Battery Park City | Condop | 1 Bedroom, 1 Bath | 862 ft2
12 months paid maintenance on contracts signed by September 1, 2024
The Solaire, #4H (Corcoran Sunshine Marketing Group)
110 Charlton Street
170 Units | 27 Stories
One-beds from $1,250,000 | Two-beds from $6,427,200, Three-beds from $4,250,000
3 years free carrying costs
Greenwich West, #20D
$4,250,000 (-7.3%)
SoHo | Condominium | 3 Bedrooms, 2.5 Baths | 1,578 ft2
3 years free carrying costs
Greenwich West, #20D (Corcoran Sunshine Marketing Group)
128 East 28th Street
10 Units | 8 Stories
Two-bed for $2,195,000
$50,000 closing credit for contracts signed by July 31, 2024
The Luminaire, #6A
$2,195,000
Flatiron/Union Square | Condominium | 2 Bedrooms, 2 Baths | 1,292 ft2
$50,000 closing credit for contracts signed by July 31, 2024
The Luminaire, #6A (REAVIS PARTNERS LLC)
215 West 28th Street
87 Units | 21 Stories
Two-beds from $2,470,000, Three-bed for $4,595,000 | Four-bed for $4,925,000
Sponsor to pay 12 months of common charges on newly signed contracts for a limited time
Maverick, #15A
$4,925,000
Chelsea | Condominium | 4 Bedrooms, 4.5 Baths | 2,100 ft2
Sponsor to pay 12 months of common charges on newly signed contracts for a limited time
Maverick, #15A (Douglas Elliman Real Estate)
138 Willoughby Street
458 Units | 57 Stories
Studio for $985,000 | One-beds from $1,230,000 | Two-beds from $2,092,018 | Three-beds from $2,899,000
25-year tax abatement in effect
Brooklyn Point, #30F
$2,143,000
Downtown Brooklyn | Condominium | 2 Bedrooms, 2 Baths | 1,183 ft2
25-year tax abatement in effect
Brooklyn Point, #30F (Serhant LLC)
252 South Street
811 Units | 72 Stories
One-beds from $1,159,000 | Two-beds from $1,895,000 | Three-beds from $2,790,000
20-year tax abatement in effect
One Manhattan Square, #43E
$1,400,000
Lower East Side | Condominium | 1 Bedroom, 1 Bath | 694 ft2
20-year tax abatement in effect
One Manhattan Square, #43E (Extell Marketing Group LLC)
3000 Valentine Avenue
57 Units | 6 Stories
One-bed for $210,000
Sponsor Sales with No Board Approval and Flexible Financing
Origin Valentine, #4G
$210,000
Bedford Park | Cooperative | 1 Bedroom, 1 Bath
Sponsor sale with no board approval and flexible financing
Origin Valentine, #4G (Corcoran Group)
3245 Perry Avenue
42 Units | 6 Stories
One-bed for $240,000 | Two-bed for $299,000
No Board Approval and Flexible Financing
Origin Perry, #2G
$240,000
Bedford Park | Cooperative | 1 Bedroom, 1 Bath | 947 ft2No Board Approval and Flexible Financing
Origin Perry, #2G (Corcoran Group)
181 East 101st Street
71 Units | 9 Stories
One-beds from $899,000 | Two-bed for $899,000 | Three-bed for $1,295,000
71 Units | 9 Stories
One-beds from $899,000 | Two-bed for $899,000 | Three-bed for $1,295,000
Huxley, #PH1
$899,000
East Harlem | Condominium | 1 Bedroom, 1 Bath | 652 ft2
24 months common charges waived on sponsor units
Huxley, #PH1 (Serhant LLC)
85 Jay Street
408 Units | 21 Stories
One-beds from $1,170,000 | Two-beds from $1,795,000 | Three-beds from $2,450,000
2 years of common charges and sponsor-paid transfer taxes on all residences
Sponsor-paid mansion tax on all residences under $2M
Front & York, #17K-YORK
$1,410,000
DUMBO | Condominium | 1 Bedroom, 1 Bath | 793 ft2
2 years of free common charges and sponsor-paid transfer taxes
Sponsor-paid mansion tax
Front & York, #17K-YORK (CIM / LIVWRK)
505 West 43rd Street
123 Units | 16 Stories
Studio for $895,000 | Two-beds from $1,598,000 | Three-beds from $2,050,000
Two years common charge credit on two- through three-bedrooms
505 W 43, #1A
$1,395,000
Midtown West | Condominium | 2 Bedrooms, 2 Baths | 1,153 ft2
Two years common charge credit
505 W 43, #1A (Corcoran Sunshine Marketing Group)
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?