105 East 29 Street drops price : Manhattan Loft Guy

Manhattan Loft Guy

Jan. 17, 2008 - 105 East 29 Street drops price

going for it, a bit less
I beat up on the 9^th floor at 105 East 29 Street a bit when it came to market (September 23, 2007: 105 E 29 9th fl is new this weekend + going for it) in what I see (in retrospect) is a new-to-market-and-’going-for-it’ series. (Note to self: review these Going For It entries and see how they did, or did not do….)

In that post I discussed a recent sale in the building near this price, a not-so-recent sale at a much lower price, an 11 month For Sale at about this price, and a 15 month For Sale there at a much lower price, and wondered how The Market would react to this “3,000 sq ft” space at $3.75mm and $2,500/mo.

Short story is that they have just dropped the price to $3.495mm.

pix and floor plan help
No surprise that interior pictures and a floor plan have been up on the web for quite some time (though they were not when I first hit it). Two things jump out at me. First, it is a pleasure to see direct pictorial evidence of sunlight on the floor of a loft described as “light-filled”. Second, there are a lot of windows – 19 if I am reading the floor plan right (I count 4 exposures, though the listing says “triple exposures” so maybe I am reading it wrong).

All in all, it is a Long-and-Narrow with a lot of positives: all those windows and exposures, plumbing that extends into the space, and a width that permits good-sized bedrooms in south. Personally, I love the angled walls in the dining / living / master north end.

color on history
I have been given some interesting building history since my September 23 post. As I noted, the 11^th floor was for sale for 11 months at $3.8mm without selling. I am told that there were several offers accepted at a high level, but the seller took it off the market after these offers did not result in contracts. So that price history may not be as negative a ‘comp’ for the 9^th floor as I first thought.

Regardless, there is a new price for the 9^th floor for The Market to chew on. Stay tuned.

© Sandy Mattingly 2008

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Jan. 17, 2008 - 105 East 29 Street drops price

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