According to a plugged-in tipster the sales manager at The Infinity has announced 50 contracts have been written for units in tower two. That’s roughly 17% “sold.”
UPDATE: Our appologies but our tipster’s intepretation of an email from the Sales Manager at The Infinity was off. The official word:
The Infinity has more than 50 new contracts written to-date since January 1 – this is inclusive of new sales in Tower I and Tower II. 314 homes are closed in Tower I, with first move ins for Tower II beginning in April.
That’s 19 new closing in Tower I (now 86% closed) since February 5th. And that’s roughly 30 new contracts across both Tower I and Tower II over the past 45 days which likely puts Tower II at around 10% “sold.”
Our thanks to the Infinity team for setting the record straight.
∙ Infinity Sales Update And A Few Additional Details For Tower Two [SocketSite 2/09]
Cuts or no cuts, that’s impressive in this economy.
Any idea when they start move-ins? Building looks done to me, but I don’t see anyone in it yet.
Can people from Tower II who bought and read Socketsite please post 1) their unit type 2) price per square foot
Thanks,
I’m interested in a water view unit maybe if they are still selling them.
Info confirmed at the HOA meeting. I was pleasantly surprised. I have seen many many people taking tours lately and everything is coming together nicely. I am in phase 1 and a few units around me recently closed as well.
Anyone know if the prop is tied to the new 70% in contract rule… it will be interesting to see given the prop is divided in two phases how this plays out.. will they allow the entire prop to account for % of sales or does T2 have to have 70% in contract to close the first?
The developer has successfully convinced the major lenders to annex Tower I & II or phase I & II hence allowing the banks to finalize loans. Senior Loan Manager at First Republic confirmed two weeks ago they can now close escrow on all T-II units. Sales office has indeed been very busy, even on weekdays.
Awesome! I heard some developers had done so, but was not sure if TS had. Assuming not all developers were able to swing the same deal one can safely bet this will reduce the number of quality condo/homes available for purchase in years to come. This should help at least some, in propping up the values.
I read on Socketsite from some plugged-in readers a while back that TII may be going rental. Hmmmm.
Maybe those informed readers can update us and explain why this didn’t happen.
At last count 290 out of the 360 available units in T1 [and treetops] had been closed. There were apparently an additional 260 units available in T2. Let’s assume [perhaps optimistically] that all of these 50 “sold” units actually close. That’s a count of 340 out of 620 that are spoken for, in terms of the entire complex or just under 55% closed. I guess that puts it on par with the Radiance? Still a long way to go, and much further for prices to fall.
Everyone should remember that in the old days (pre-late 1990’s), it would often take a large new development 2 or more years to sell out. I don’t think anyone needs to hit the panic button at the Infinity yet. Given how much money everyone has lost lately, they seem to be selling fairly well.
…”it would often take a large new development 2 or more years to sell out. I don’t think anyone needs to hit the panic button at the Infinity yet.”
Funny, that’s exactly what the sales office at the Radiance has been saying. Hmmmmm…
Simmer down huh? – T2 sales just started. Infinity was never planning on going rental that is and was speculation; I am not saying it won’t but it is not in the deck of cards presently from what I have heard. To close 50 units just in the past month or two is pretty amazing given the state of the economny.
It is unlikely Infinity will go rental as this will instantly cease all future lending and hence sales for both the developer and current owner. No bank will make loans on a building that is partly converted to rental by the developer. I AM very concern with the percentage of rental units ( by owner ) currently in the builder as this will also affect getting conforming loans with sub 5% rate. The infinity is probably at 20% while ORH is rumored to approach 40%.
“I read on Socketsite from some plugged-in readers a while back that TII may be going rental. Hmmmm.
Maybe those informed readers can update us and explain why this didn’t happen.”
I was one who speculated that T2 “going rental” may have been considered by the developer. (Note: I didn’t say it was going to be turned into rental stock. In fact I don’t think anyone made that claim.) Glad it didn’t, and it’s better for the T1 owners. However if I was a T1 owner and a comparable T2 unit is sold for a significant reduction in price to my unit I don’t see it as cause for celebration. (In the CBS story the developer admitted to dropping prices.) Anyway, the floor plans are quite similar in both towers with a few exceptions so I’m thinking anyone with access to pricing data could perform the analysis and determine how big the price reductions are relative to T1 units.
“To close 50 units just in the past month or two is pretty amazing given the state of the economny.”
GWTF: “In Contract” and “Closed” means two different things.
Note the emphasis on the “Sold” in the editors translation of the tipster’s statement.
“Cuts or no cuts, that’s impressive in this economy.”
are you kidding me? so if someone dropped prices 90% you dont think even the homeless guy on the street would consider buying. now thats an extreme, but you see my point. of course they are gunna sell when they are slashing prices like crazy. Cuts/price matters!
All while more units than people are even aware have been affected by water damage in Phase I. Buyers for T-II really need to do their homework and look into all the issues that have plagued T-I. This is really a case of “buyer beware” Please please please do your homework. I live at the Infinity and I’m not drinking the kool-aid of lets let these guys buy so it helps my value. No. Rather, nobody should regret buying and actually be happy with their home is more important.
“All while more units than people are even aware have been affected by water damage in Phase I. Buyers for T-II really need to do their homework and look into all the issues that have plagued T-I. This is really a case of “buyer beware”
Anony,
In terms of giving potential buyers of T2 a leg up on doing their homework, I’m certain all would find it valuable to know more about this subject. In terms of the extent of the damage, which floors and units this has affected and how severe is the damage? I’m sure your honesty is appreciated by all.
Move-in’s for Tower II will be starting on or after April 2nd… that’s when the first wave of closings for new buyers in T2 is scheduled for.
For all the naysayers of Infinity, if every New Development in the City are cutting pricing (as well as old inventory in the City), why is the Infinity the only new building doing so well?
Radiance lowered prices. So did SOMA Grand, Hayes, Arterra, Rincon Hill, Blu etc but none of them are claiming to have put 50 NEW contracts since the start of the year or even close.
GWTF: “In Contract” and “Closed” means two different things.
Yes, of course. But I’d be willing to bet that the contracts being entered into now will close at a higher rate that the contracts entered into 2 years ago for a number of reasons (people are actually able to walk through the unit, prices are lower, it’s a buyers market, etc).
I live at the Infinity and I can say there there does seem to be a lot of people looking at the units.
I’m not surprised Infinity is still selling. Compared to these other buildings the location, design and style are superior. Price cuts plus deeded parking!
“why is the Infinity the only new building doing so well?”
Well its a great looking building, beautiful location, etc. Unfortunately, my speculation is prospective buyers are not being proactively told by the sales office or the developer about the issues that have plagued the first phase (maybe they are not legally or morally required to do so), nor are buyers doing their homework.
Some homeowners who bought in Phase I are living in hotels. Maybe you should ask the sales office about why.
Yes I know the difference between closed and in contract; my bad. However, I have no doubt the contracts won’t close. I have seen more visitors walking the property now in comp to how many I saw when I was looking over the summer of 08. I see units in phase 1 still closing even though t2 is available. All the neighbors I talk to are all very very happy they bought, and love the property. Anony are you having issues with your unit because you are really blowing something out of proportion and don’t seem to have your facts straight.
“Some homeowners who bought in Phase I are living in hotels. Maybe you should ask the sales office about why.”
If the sales office isn’t telling anyone and if you have some insight can you explain why? This is something that is certainly morally important especially if the water damage affects as many floors as you are insinuating is the case.
“are you having issues with your unit because you are really blowing something out of proportion and don’t seem to have your facts straight.”
GWTF,
Tell me what you believe I could be blowing out of proportion and I’ll give you a specific experience or fact to counter your concern.
Did the changing color water tanks on top of the building explode and drowned all the units below? From floor 35 all the way down to floor 5?
Better question for you – what are you aware of that has not been fully disclosed transparently by any team or person representing the building? The way you make it all sound is much larger an issue than such. Look I am not against you here just that your representation of any issue seems to be over the top… unless of course you know something we all don’t?
Did the changing color water tanks on top of the building explode and drowned all the units below? From floor 35 all the way down to floor 5?
No, and I think your thinking of ORH with the changing colors on top.
I live in Phase I and am not sure what you are talking about when you refer to us being “plagued” by water problems. That makes it sound like a massive envelope or plumbing problem that I assume those of us living there would know about. One thing that drives me crazy about this site is how people try to create drama and angst. Do so many people enjoy that?
All new buyers were told the building will be ready to move in by April and the developer appears to be giving extra incentives for 30 day close (I am sure to meet investor expectations.) Just thinking – would someone take a 1 Br unit here for say, $350K ?
I, for one, would not buy a 1-bdr unit at the Infinity for $350,000. First, this unit would probably have no view and very little light. The HOAs are unbelievably high ($800/month). Thirdly, I don’t believe 1-bdr condos should be sold; 1 bdr-condos are rental apartments, not “homes”. Anyone whom expects to live in a 1-bdr condo for 10+ years is lying. 1-bdr condos are for flippers. I also do not like to buy 1 of 500 condos in a development in a neighborhood, where there are hundreds of condos. There is not much uniqueness to the property unless you have some amazing ocean view.
The HOAs for a 1BD are 800 month?
Geez, I pay that for a 3BD. no amenities though. 🙂
Go figure.
I’d only buy it for $349,999 but too bad the developer rejected my offer.
Real issues exist and its your job to ask the relevant questions. Ask the developer, ask the HOA, ask the sales office, or more importantly ask the neighbors you dont already know. Simple questions like: how many water incidents have there been in the building? how many units have been effected? are people living in hotels? Do people spend weeks or months simply getting things that shouldnt be broken fixed? Take a good look at the garage even.
Until your directly or indirectly effected by a major issue that has effected many in the development, your not going to “get it”. Do you think the flow of information has been transparent there? I think you’ll be surprised if you did some homework.
My guess is if you live in the mid-rise (not the tower) you probably are more shielded from these things.
UPDATE: Our appologies but our tipster’s intepretation of an email from the Sales Manager at The Infinity was off. The official word:
That’s 19 new closing in Tower I (now 86% closed) since February 5th. And that’s roughly 30 new contracts across both Tower I and Tower II over the past 45 days which likely puts Tower II at around 10% “sold.”
Our thanks to the Infinity team for setting the record straight (and of course for plugging in).
Unless anony is more forthcoming with his/her charges of major problems at the Infinity, he/she should be considered a troll and ignored.
I live in Tower I and have heard nothing about water issues with any of the units. I’m guessing anony has ulterior motives and agree wholeheartedly with eastbaymike.
And, no, the HOA dues are not $800 unless you are in the larger 2bd units.
It never ceases to amaze me how much enjoyment these posters seem to get from spreading rumors and outright lies.
I’m a resident in T1 and have lived in the building for some time. There have been a few incidents of water intrusion from plumbing leaks (one I believe from a contractor related issue and two of which I believe were from owner caused issues). These impacted several floors and multiple units requiring several residents to relocate out of their units for several months. While very unforunate for these owners (I’m very empathic to their disruption) these were only a few units.
Everybody has a water issue once the sprinklers go off in a concrete building … don’t skimp on your insurance, especially if you’re on a higher floor and your unit’s sprinklers start pumping 100 gallons a minute ….
Great to hear things are going well at Infinity … I hope the good news hastens the other retail spots at infinity and the former Sharper Image shop’s spot across Spear at hills plaza filling in sooner than later … I personally think whomever puts an affordable all-night cafe around Foslom and Main will do pretty darn well … just armchair speculation on my part, but ….
Take a good look at the garage even.
LOL, B5 is a disaster; will they ever have a permanent solution to the water problem? I haven’t seen the Audi R8 down their either in a while.
Anyone else having issues with the quality of the fixtures and appliances?
True — there was an incident of a homeowner who somehow managed to clog their toilet so badly that they flooded their unit and some of the surrounding units. Other than that, a few minor leaks here and there and some water intrusion into the garage below the water level are a part of any new development. But none of these iincidents rise to the level of construction defects nor do they impact the quality of life or proerty value. If you want to know about water intrusion — read about The Terraces at Emery Station.
“LOL, B5 is a disaster; will they ever have a permanent solution to the water problem?”
Unearthly – I know the Infinity engineers did dig all the way through to bedrock to anchor both towers, but I guess they went through a fair amount of landfill to get there. Is the water damage to the basement parking a result of ‘leaking’ water from the surrounding landfill? I suppose deeded parking isn’t much good if you have to swim to your car. Seriously though, how much water is there on the B5 level? Also, what are the fixture and applicance issues you have been having?
In terms of appliances, Thermador, Bosch and Viking are pretty damn respectable. It’s not like they put Kitchenaid or Amana in the units. They may not be the highest end within their model range but the quality is good and, frankly, we all knew what they were when we bought. If you want a fancier dishwasher switch it out. We have not had any issues with the Watermark fixtures and they seem quite solid.
I also agree with the other posters that anony appears to be nothing but a trouble maker and should be ignored.
The Thermador fridge in the unit had to be replaced after having several months of problems. Here’s another secret, all the ‘Bosch’ appliances are the lowest grade you can get from Bosch; which might has well be GE.
The dishwasher is a hunk of junk; they should have put in a high quality Miele (the one with three levels). The oven was not properly fastened into the space below the cooktop. The doors are super cheap (and hollow). The trim around the door opening is cardboard and has started to flake off. The door handles are coming loose after a six months of use. To top it off I’ve had problems with the bathroom fixtures.
Sometimes you get what you paid for, other times, not so much. Good thing they have the one year warranty.
I live at The Infinity and I am very very happy. And if you bought here, so would you. Just make your homework, get a good price, and get a good insurance if your neighbor decides to test the sprinkler system.
Living here is about days like last Saturday… I walked my dogs, took a couple of pictures at the Bay Bridge (every morning looks unique and stunning), went to the Ferry Building (love those italian donuts), worked out at the gym, walked to Union Sq, checked out some of the galleries, bought tickets for Wicked for that night, and truly enjoyed living in the middle of everything I love about San Francisco.
So, do your homework (check out rumor vs. fact), compare, take advantage of your stronger position in the market, and imagine how your days could be here. It might not be perfect but it is very very enjoyable.
Hey, don’t get me wrong, it’s a great location with lots of pluses. Great access to downtown, public transit, shopping, the Ferry building, and great restaurants (Boulevard, Ozumo, Le Mar, Epic, etc.). Not to mention an excellent gym and indoor heated pool.
It doesn’t excuse the fact that they cheaped out on the interior construction quality. IMO the quality doesn’t reflect the price ($1000+/sqft). Also I would demand to have deeded parking on B4 and above.
Also I would demand to have deeded parking on B4 and above.
It IS deeded. Also, I think the $1000+/sq ft units are for water views. Many (most?) of the units were originally in the $800/sq ft (or less) range. Of course, now they are cheaper.
Yes base models – that is what is advertised when you buy and you did or do have the option to upgrade. I was happy they offered the base model as I prefer to renovate the space as I wish without someone charging more for something I may not have selected. If you did not like the items that came with the unit why did you buy or better yet why did you not upgrade when you bought? All the items were set up in the sales office to preview. To date I have had no major problems and some of the minor ones a few sim to what you mention – easy put it on the punch list, call the super helpful home warranty team and get them fixed.
I completely agree with gowiththeflow. You should of known what you were buying and if you did not like it buy somewhere else or buy with the plan to make it what you want. I also agree that I am happy to choose the dishwasher, etc that I want and not pay a premium for something else. We have redone the kitchen and now have the exact thing we want.
I know it’s deeded – just make sure it’s not on B5…
I think unearthly’s point is that when you pay a huge premium like $1000+ psf [as I believe the owner did where unearthly rents] you shouldn’t have to pay extra to upgrade. I tend to agree that if this building is as great as you profess, the basics fixtures and appliances that come with the place shouldn’t be falling apart. And the flooding basement … seriously? These are troubling shortcomings given all the hype about the Infinity.
I am trying to simply make those who are unaware of issues, aware of them and encourage you to do a lot of homework. If I had “ulterior motives” I’d be citing off a ton of things that are not particularly favorable to the development. Instead, I’m simply making you aware that you should keep a sharp eye on the development and do your homework.
Unfortunately to those of you who are there part time with your 2nd or 3rd home or don’t really take an active role in gettin to know ur neighbors, your not going to be aware.
I mean JohnK says “I live in Tower I and have heard nothing about water issues with any of the units” This is hilarious.
“Other than that, a few minor leaks here and there and some water intrusion into the garage below the water level are a part of any new development. But none of these incidents rise to the level of construction defects …”
I didn’t realize the Infinity built a garage below the water level and now water is leaking into the garage. How is this NOT a construction defect? And how do they plan to solve this problem? It’s not like they can lower the water level by draining the Bay 🙂 Sounds like a permanent issue without a lasting solution. I guess drilling through landfill to get to bedrock does have its shortcomings.
Too bad the water intrusion in the parking garage didn’t happen at One Rincon! Those marketing experts would have sold it as a luxury feature: underground Yacht Parking for the truly well heeled!
I didn’t realize the Infinity built a garage below the water level
I believe levels 2 through 5 are below the water table. It kind of bothers me as well, but I guess it’s not uncommon. I heard that, for example, some Bart stations pump out thousands of water a day.
BART needs 100’s of millions of dollars per year in taxpayer subsidies to stay in business. So does New Orleans. I wouldn’t want to be below sea level with some TARP or bailout money (especially if you believe that sea level is rising).
@infinite_issues — calm down — if you ever bought in a new development in this part of SF, you wouldn’t be so freaked out. Same issues happened at the Met and it was no problem. you cannot build in this end of town and not have some water seepage. Hills Plaza across the street had to deal with the same issue and many other developments as well. Jeez — the whole GD Marina is built on landfill and without the benefit of pilings that go deep into bedrock.
JohnK, I think you mean these water leaking issues are common to new developments not built on bedrock? I know some newer complexes in Mission Bay have had water problems. What exactly happened at the Met? I thought they were right on bedrock and this is the first I have heard about them having water problems. And the fact that the entire Marina is built on jello is one more reason I wouldn’t live there.
Nothing that has been mentioned here qualifies as anything abnormal in my opinion. Garage has some a small amount of water getting in, which is typical for below grade garages and easily taken care of with standard maintenance of which the developer is doing, has done a great job with and has paid for with developer funds not hoa funds (many would not do so as they are not required). Toilet overflow issues and the occasional appliance and hardware breakdown issues are no different than anything else in life – accidents or standard wear and tear of which if people would submit under the 1 year warranty would be fixed. My understanding is that the items mentioned are being tended to or in most cases all ready have been. I agree with most here, this has been blown out of proportion best to ignore the rest and put this non issue to bed.
Without constant pumping the NYC subways would be underwater within days. Water infiltration is a constant issue for anything that is built below the water table.
I agree, GWTF, about water issues. And just think, if the water buidup is bad enough, all the underwater owners will have a practice pool to test their scuba skills 😉
(Just kidding. You know that if I had to guess, I’d expect values at Infinity to do much better medium-term than many other choices around there. Reasonable location from what I know of the area, nice looking building, all built-out and complete, and almost no prospect of competing “mass luxury” highrise condo towers around there for a looooooonng time apart from what is already in the pipeline, all tell me that this is a better choice than ORH, for instance. Still, it might be a tough few years – don’t put the scuba gear on craigslist just yet ;))
almost no prospect of competing “mass luxury” highrise condo towers around there for a looooooonng time
Except for the mostly empty (and much nicer) Millennium Tower a few blocks away… If they drop their units down to $1000/sqft range or less, I would expect huge downward pressure on the Infinity.
What is the story at the Millennium? Any info available?
LMRiM I took swimming lessons before buying so I should be ok 😉 Plan has always been to be here long term.
Visited the Millenium. It is in a different class by itself. BUT…I really am not a fan of the immediate south of Market location. Dirty streets, Incredibly congested most of the time and unbearable around rush hours. The price is shocking even after the 15% adjustment and if people complains about HOA at most new buildings, they will need a defibrillator when they see Millenium’s. All that gorgeous amenities are NOT free. The Infinity has the hands down best location. Parking on the street is easy on the weekends. Try that on Mission. Getting on and off the freeway is so simple I am in the east bay before folks at the Millenium can reach the Bay Bridge from their garage. I see The Infinity as a BMW. Expensive but affordable and drives great. The Millenium is a Bentley. Lovely in every sense. If you got the money, it is not an issue. If I purchased a Bentley, I would have to live in it and the Bentley doesn’t come with a toilet…
“I’d expect values at Infinity to do much better medium-term than many other choices around there.”
I say ‘Laughing Millionaire Renter in Marin’ how do you think 20B, who paid $1.77m or $1345 psf for his Tower I unit will fare with 280 competing units still to be sold in the complex? By the way, I love your LMRiM handle, although you may as well scream from the mountaintops “Look at me, I’m so smart”. I also like your self aggrandizing habit of citing your previous Satchel posts in your responses – it makes you look very important. Funny though how you seek your daily validation from an anonymous blog. My psychotherapist friend Cavendish thinks it’s probably because you weren’t hugged enough as a child.
I say ‘Laughing Millionaire Renter in Marin’ how do you think 20B, who paid $1.77m or $1345 psf for his Tower I unit will fare with 280 competing units still to be sold in the complex?
Well, old chap, I’d say he’s probably toasted. Not surprising I guess. One thing you can say about the bubble in the Bay Area, there was a seemingly infinite number of suckers, at least for a while (a pretty long while, it seems).
About Infinity values doing better medium term, I was really just referring to people who have been getting in lately and/or who negotiated more reasonable purchase prices than a laughable $1300+ psf. Of course, “better” only in comparison with some other developments as well around there. I gave the caveats in my original statement. Perhaps I could have been clearer.
(BTW, lol about “Cavendish”. He’s probably right. One thing for sure, if he’s peddling “psychotherapy” he’s in the right part of the world :))
If you had to estimate, what do you think is fair price wise these day’s for Infinity units?
1) Higher floor bridge view units psf?
2) Higher floor city view units psf?
2) Middle floor city view units psf?
3) Middle floor bridge view (no h20) units psf?
3) Low floor no view units psf?
Obviously it changes per how many bedrooms, terraces, parking, etc.
I am genuinely curious what people think is fair value in today’s market. (Truly a fair estimate none of these when it drops to $350k/$400psf I will buy it guesses).
Good day Go with the Flow. I consulted with my real estate friend Cuthbert and he came up with the following for the Infinity –
1) Higher floor bridge view units psf? $925-$1000
2) Higher floor city view units psf? $875-$925
2) Middle floor city view units psf? $825-$875
3) Middle floor bridge view (no h20) units psf? $750 – $825
3) Low floor no view units psf? $600-$675 depending on the amount of light
What are your estimates, old bean?
Jeeves I would say I am generally in agreement
with exception that the top 5-8 flors may fetch up to $1200psf but only for the perfect light, highest, and best units. Middle agreed with exception to the large private terrace midrise units – those falling closer to the middle floor city view units. Lower floors I would say $675psf is the absolute lowest with exception to the fire sale units and back of house no light, no view units, those yes lower say $615psf. Of course I am not a realtor so I could be off. Having not shopped lately but having estimated back in early to mid 08′ where I thought units would be currently we are very close to what I targeted.
The floor plan should also make a significant difference as some plans are much more attractive than others with the same square footage. I truly believe in the last few weeks, there was a possible way you could get a 1/1 at The Infinity for the mid to high $300’s if you are willing to make a significant sacrifice. And I am talking about mid-higher floor with view…
Why does price matter when you (and your spouse and kid(s)) have a good chance of being displaced from their units for days, weeks, months?
As I’ve said before, a lot of units have been affected by water at the Infinty, not to mention other lifestyle disrupting issues. Make sure the sales center is completely honest with the issues that have taken place. Ask about number of water incidents, why they occured. What about the common facilities like the theatre room and business center. Ask why those were closed for several weeks. Need any more questions to ask? Let me know…
Anony you are the only person on here who continues to rant. Best advice take it up with the building – for some reason most here don’t agree with you and more importantly the way you are going about this all. Unless you can confirm that the building is not being maintained, of which we all know it is, professionally, diligently, and to a superior level daily than what is the problem? If your personal issues are not being addressed I think there are way’s to garner support but this is not it and perhaps you should re-evalate that it may be due to how you are going about this.
Aside from what you are talking about:
The theatre and business center were closed for renovations because the developer at his own cost decided to upgrade the finishes, furniture, equipment for us all again with developer funds not hoa funds even though it was requested by the homeowners. I was very thankful as the original carpet was awful amongst other things, owners noted such and it was swapped out to something that looks great!
Higher floor bridge view units are going for 1000 psf? I thought they were still like 1300 psf?!
No? Well, maybe I have to take another look then.
“Funny though how you seek your daily validation from an anonymous blog. ”
Ouch.
Yea, and San Francisco rents are going to drop 75%.
Ce que fumez-vous?
$300 psf? And San Francisco rents are going to drop 75! Ce que fumez-vous?
$300 psf? And San Francisco rents are going to drop 75%! Ce que fumez-vous?
I say jessep, the per square footage numbers that I listed were estimated fair values that I came up with, in consultation with my real estate friend Cuthbert. I do not believe they are the current going rates as yet, although I believe they will be in the not too distant future.
Good day Go with the flow. And how is the flow going today? Cuthbert says that for penthouses with higher ceiling, better floorplans and upgraded fixtures, $1200 psf is a possibility. Otherwise it is simply not in the cards. However Cuthbert would not want to live in the building given that that vulgarian ‘G’ fellow lives there. I would say he’s a tad buggered on his the $2000psf price that he paid and that was before all the monstrous marble and gold horribles were added. Really new money is completely lacking all aristocratic sensibilities.
Why the attacks on anony and infinite_issues? Because those of you living in denial don’t want to face the facts? Truth and “negativity” are two different things. The truth is, that living at the Infinty has been a nightmare, and that’s putting it mildly. Water “intrusion?” More like FLOODS. FLOODS. AND MORE FLOODS. AND LOTS OF THEM. IN SEVERAL UNITS. ON SEVERAL FLOORS. EFFECTING SEVERAL OWNERS.
FACT: Several people have had to live in hotels for extended periods of time. Some are STILL living there! Don’t believe me – check the Palace hotel. Or the W. Yup, Infinity Owners are living there.
FACT: Some units have been flooded MORE THAN ONCE in the past year. That’s right – twice in ten months.
FACT: Floods and leaks have come from toilet issues, shower valve issues and rain coming through unsealed windows, and have affected numerous units. (Does someone smell “construction defect?”)
FACT: Common areas of the building have been flooded. (Upgrades out of the developers goodness of their hearts, and due to “carpeting” complaints, gowiththeflow? BS. They were flooded. Wake up. Get your facts straight.)
FACT: Some buyers have been given “disclosures” regarding the floods that have affected the units that they were in contract to purchase. (Still don’t believe me? There’s documentation to prove it. Ask the sales office for it.)
How those of you that live in the building have not heard about these issues is beyond me. In fact, there was a “water issues” meeting. Get your heads out of the sand. It was posted IN THE ELEVATOR.
Prospective Infinity Buyers – Beware. Do NOT listen to others on this site that sway you from doing your homework. Rather than attacking people like anony and infinite_issues, you should be thanking them. I only wish I had been warned.
Do yourself a favor – what is the harm in asking the following questions before you purchase a unit:
1-Have there been any water leaks or floods in the building? If so, how many? What was the cause?
2- Are there people living in hotels and temporary units? If so, why? And for how long?
3 – Is it true that there was a water issues meeting in March? Why? What “water issues” were discussed?
4- Take a look at the garage. It speaks for itself.
Make them tell you the truth about the above. If they don’t, they are breaking the law.
Finally, if you disregard all of the above as “negativity”, like you’ve done with some of the other posts, do yourself a huge favor, buy a raincoat, some quality golashes, and a HUGE insurance policy with a robust flood provision to protect yourself! You’re gonna need all three.
FACT: You’ll thank me, anony, infinite_issues, and others for this later!
Wow. Thanks for the info, floodzone. I really like the Infinity, but now, maybe not so much…
-HPR
Hey floodzone or anyone else in the know. Are these issues happening to only a few units on certain floors or is it happening throughout the tower? Also, do you think they would or could rectify the situation for tower II?
If any agents can chime in to explain the other side of the story that would be great.
As in any high-rise there have been water issues that I am aware of. Floozone’s obsession with the Infinity is weird. Either he’s a disgruntled renter, in which case he should move out, or (more likely) a disgruntled owner who’s angry the prices have been reduced since he bought his place. Why he thinks it’s a good idea to talk down the building is anyone’s guess.
As in any high-rise there have been water issues that I am aware of. Floozone’s obsession with the Infinity is weird. Either he’s a disgruntled renter, in which case he should move out, or (more likely) a disgruntled owner who’s angry the prices have been reduced since he bought his place. Why he thinks it’s a good idea to talk down the building is anyone’s guess.
Thanks anon.
I had a couple of follow up questions for anyone that can answer.
Is the salesperson legally obligated to tell me about such issues? Also, where can I find more information about these types of problems?
Paul Hwang has had a lot of success with these type of units. I would appreciate his input as well.