Aug. 17, 2009 - 161 Hudson Street closed after 14 weeks, up 33% (since 2004)
don't worry about the interim
The Manhattan loft #2B at 161 Hudson Street had a pretty good run through the 2009 market, starting at $2.7mm in March, dropping twice in April (to $2.5mm) and closing June 30 at $2.41mm. That quick history shows that they really wanted to sell, and had a decent grasp of The Market.
The "2,325 sq ft" loft is nearly square, with windows on two sides, leaving a very large corner living room. This condo was new in 2004, with finishes consistent with that time, in the building that used to have the Wetlands music club [slash] environmental experience.
These sellers paid $1.825mm in the original offering November 2004, so they are ahead 33% (before expenses).
odd range of 2004 prices
Most units sold in the original sponsor sales in late November 2004, but I can't tell when contracts were signed. They seem to have been signed over a wide range of time, or some buyers got friends-and-family pricing back then. In contrast to the $788/ft that the original #2B buyers paid, the #2C buyers paid only $395/ft and the #5C buyers paid $305/ft, while the #6A buyers paid $983/ft and the #7C buyers paid $942/ft,
2007 to 2009 = not so bad
The June 2009 clearing price for #2B of $1,036/ft is only a modest drop from the neighbors in #2C, who sold their slightly smaller loft ("2,117 sq ft") in July 2007 at $1,133/ft ($2.4mm).
COUNTDOWN: 10 ... 9 ... 8 ... 7 ... 6 ... 5 [oops] ... 4 ...
© Sandy Mattingly 2009
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Nov. 11, 2009 - RE: 161 Hudson Street closed after 14 weeks, up 33% (since 2004) |
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on matters of interest to Manhattan coop or condo loft apartment dwellers, buyers, sellers, and others, especially about New York City real estate
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