The One - Mizrahi Developments - (Real Estate) -

So many people here are willing to crap all over this developer with little to no knowledge of what's going on behind the scenes. This project is a highend and complex build in a challenging location going up at the same time we've been going through a pandemic and now global economic slowdown. Anybody who thought this tower would rise at a typical pace is a little out of touch with the reality of what's involved with a project of this scale.
What does the project's complexity or location have to do with project owners that committed fraud in obtaining their project financing? The project itself isn't the issue. The money building it is.
 
I looked at the remaining suites, and were I to get a huge windfall, which is highly improbable, the kitchens are still so tiny, with so little counter space (like most kitchens in new, cheaper buildings), even their "Grand Penthouse", that there is not a single one I would even consider.
 
Just bought into this project. 2 bed 2 bath on 40th floor. 1,166 ft2 for $2M or $1,715/ft. Bad decision?
 
It will be a while before this project gets completed so it will weather these uncertain market conditions.
There are new downtown builds that are asking $1,500/sq.ft. or more and they are not very special nor particularly luxurious builds, and their timelines are much faster.

I agree that the rooms in most of these units are very small and the innovative structural system creates massive structural walls and very deep window ledges that eats into the floor area (most of this is cleverly incorporated into built-in window seating). Having a diagonal structural member going through your unit could be a really cool feature to have.

I think you have a decent buy if you don’t mind having your deposit tied up for so many years.
Are you intending on keeping this as your future home?
 
It will be a while before this project gets completed so it will weather these uncertain market conditions.
There are new downtown builds that are asking $1,500/sq.ft. or more and they are not very special nor particularly luxurious builds, and their timelines are much faster.

I agree that the rooms in most of these units are very small and the innovative structural system creates massive structural walls and very deep window ledges that eats into the floor area (most of this is cleverly incorporated into built-in window seating). Having a diagonal structural member going through your unit could be a really cool feature to have.

I think you have a decent buy if you don’t mind having your deposit tied up for so many years.
Are you intending on keeping this as your future home?
The plan is to live in it for a year or so before buying a bigger "forever" place with a nice terrace. I will likely keep the unit long term as a furnished rental.
 
Anyone on this thread an owner?
I am...I also have a friend who was involved in the 33 Yorkville receivership...apparently they used a lawyer (300+ participants) to organize the deposit reimbursements.
If anyone on this thread would like to work together I am ready to move forward on this.
 
Anyone on this thread an owner?
I am...I also have a friend who was involved in the 33 Yorkville receivership...apparently they used a lawyer (300+ participants) to organize the deposit reimbursements.
If anyone on this thread would like to work together I am ready to move forward on this.
Yes, I am an owner. I am not sure we are at a point where deposits are being reimbursed but we will see.
 

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