Manhattan Loft Guy

Aug. 23, 2007 - indoors and out at 284 Fifth�s PH-B / (almost) brand new

but how big is it?

Very cool new listing tonight from Joseph Testone at Bellmarc for those who want real outdoor space. PH-B at 284 Fifth Avenue is a 3 BR + 3 bath with -- so far -- no floor plan or gross square footage, asking $3.25mm (maintenance is $4,278/mo). But we are told that the terrace is 2,200 sq ft. [UPDATE 9.3: now it is a co-exclusive listing with Katherine Gauthier of PruDE, with a different set of pix here.]

Unfortunately, one thing you won't see from this 8^th floor terrace at 30^th Street and Fifth Avenue is the Empire State Building (unless it is visible straight up), as there is a tall building just to the north. Lots of glass, lots of light, and some proper proper nouns dropped for the kitchen and baths ... looks pretty darn cool. But how big is it??

The building foot print is 5,000 sq ft, but the roof slopes back a bit. Allowing for the 2,200 sq ft setback terrace, the loft space can't be any more than 2,800 sq ft. [UPDATE 9.3: now there's a floor plan up; if the terrace really is 2,200 sq ft, the interior looks to me to be about 2,000]

On doing some digging, it turns out this unit was offered by Testone as "PH-AB" from May to July 1 for $3.595mm. So this is not so new (I must have missed it the first time around). But still (potentially) very cool. With that 2,200 sq ft terrace.

I looked at some studios in this building when it was first being offered through Corcoran (2004??). Corcoran ended up giving up the marketing (so the story went) as the sponsor/developer couldn't make up its mind about selling prices and/or could not get all this paperwork or financing in order. City records suggest someone else stepped in, and that units started closing in 2005.

sponsor taking a final shot?

It may be that the penthouse never sold, and that this sale is a sponsor sale. Building permits suggest that the major renovation of the penthouse was done (begun?) only a year ago.

Hard to get comps for space like this. There is certainly nothing else like it in the building (even without considering the terrace.) And not many spaces anywhere with this large interior space and this large a terrace.

[UPDATE: Open House Sunday Sept 9 12 - 2 PM]

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