patience pays? 429 Greenwich births a contract : Manhattan Loft Guy

Manhattan Loft Guy

May. 29, 2007 - patience pays? 429 Greenwich births a contract

8 months later, #4B is in contract without a price change

#4B at 429 Greenwich St was the apple of its owner’s eye when it was first offered for sale in September at $3.1mm ($2,780/mo) and now – nearly a full-term baby – it has given birth to a contract without having to drop the price. With 2,100 sq ft it is called a 3 BR with 2.5 baths, but that 3^rd bedroom lacks both closets and an easy walk to a bathroom.

Richard Orenstein at Halstead calls this Tribeca’s “most sought-after doorman building”, but there’s probably a huge intramural squabble over that title.

This pretty cool loft building was converted to condos in 1996 (it had been a lantern factory), when the high-end arm’s race was one of two turns of the wheel less manic. So there is no gym, no children’s play room, not even a wine cellar.

The same unit on the second floor (#2B) is available through Corcoran for $2.75mm ($2,150/mo, as the taxes are much lower here [a mistake??]). I wonder why the second floor unit has been harder to sell than the fourth floor unit with the higher price.

#2C sold for $3.375 last June (2,400 sq ft) and #4D sold for $3.325mm last August (also 2,400 sq ft) after two months on the market, offered through Halstead’s Orenstein.

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