Hi Lee,

There's a lot that goes into determining the value of a unit in a new condominium. You're probably looking at 1904? That's the smaller 1,500 sqft penthouse. We need to know the view, the upgrades, and most importantly, how many units in the building are sold and closed. If the complex is sold out it's one thing. If the builder is having trouble selling out, you could be looking at a problem. Tarragon is offering some pretty strong incentives, so it's not like there's a waiting list to get in. Also are there firm property taxes and maintenance charges in place that are predictable over the next few years. Who is in control of the building and when will it transfer to the HOA? Buyers have a lot of choices in Fort Lee and Cliffside Park if they want the high-rise lifestyle. Trio has to compete with a favorable financial structure and amenities, because the views and the prestige are on the river.

In any case, you won't find a reliable answer from an uninvolved agent for a complex question like this. If I'm representing you, I'm going to take the building apart and figure out the likelihood of future success. If you want to discuss it further, contact me through my website.

Good luck!

Sun Jan 13 2008, 22:46