Are you guys referring to that ugly looking monstrocity on 21 Street? It looks like a school or detention center. My husband & I could not believe how ugly it is. And the fact that it is being sold as a co-op is so weird.

Yes, it`s horrible looking, but it is an old factory also and very strong, the first 3 stories, that is, because the next 3 stories are built now, 2006. It is built like a carre` (a square w/o the top) that faces an interior court but no views.As an investment it`s not too sound, b/c of high maint., and you literaly own only shares.If something goes wrong with an other apt. all of the tenants must pay for repaires

I went to the open house 2 weekends in a row. I have been watching this development for years (it's taken them about 6 years!!). I was interested in one of the lofts, which are located in the old factory building. My reasoning is that you will never have anything built in front on you. A nice lady show my friend and I around. We saw the aprtments in the new building first. I have to say that the floorplans of these is awful. I have never seen kitchens so poorly planned for. Many are small alcoves, and are so small, that the stove can;t be opened at the same time as the dishwasher facing it because the distance across from each other is about 3 feet.

On my second trip there we saw the lofts. The lofts are big, but again, the detail and finish is piss poor. Big windows, but cheap looking flooring, very bland bathrooms. On the ground floor units the large pillar supports have masive bases that can't be removed and jut out about 3 feet in either direction. Pistilli decide to brick some of these over with red bricks. It looks like a screwed up BBQ. A "2" bedroom loft (one real bedroom and a loft/ mezzanine bedroom) is $725k. The maintaince is $1750 (yes folks...$1750) per month. Parking is additional, as are utilities.

The reason it is a co-op, not a condo?........Eagle Electric was the owner of the land/ factory. Due to legal and tax reasons (sound alarm here) Eagle are renting the land to Pistilli. By about 2012 the co-op MUST buy the land from Eagle. Thus, because the land is rented the building cannot be a condo.

Really disappointed with this development. Could have been really nice, but the quality is very poor and the maintainence issue is crap.

I`ve just read that the price of purchase of the land in the event that will go condo in ten years, will be incured to the owners!!

and they don`t know if the maint. will go lower or higher!!so you pay $1.50-$2.00psf not knowing if you going to pay even more sometime in the future, Ha, Ha..

What an awful, depressing experience it was touring this mess on 11/11/06! Terrible layouts, seriously sub-landlord grade kitchens and baths, "glueless" floors that are already coming up, and, get this, a bedroom with a structural column almost dead center in the middle of the room! Our guide could barely answer a single question about the place and came off like a sleazy used car salesman ("This is one of the more nicer layouts". Oh, and be very careful if you go: conditions are ripe for someone to have a serious accident for a variety of reasons, including stairs with huge chunks missing from them. And the prices! outrageous and insulting. This place is an inuslt to New Yorkers. Be afraid, be very afraid.