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Manhattan Loft Guy

Dec. 13, 2007 - no loft FSBOs for the Holidays


NY Times.com revenue to suffer?
The NY Times real estate website has 677 “listings” for lofts in Manhattan between $1mm and $5mm. Not all of these are real, of course, as some are open listings for new developments posted by agents scamming for buyers, and some are likely to be ‘no longer available’ (either because they are in contract, have sold, or never existed).

But not one of these 677 is a for-sale-by-owner.

This result is very similar to what I found in July (
where have all the loft FSBOs gone? nary a two on NYTimes.com), where I found exactly one FSBO for lofts between $900k and $4mm and reader Jess found another, out of nearly 700 “listings”.

I still don’t know why the loft market in Manhattan should be less inviting for FSBOs than the apartment market in Manhattan. Or maybe it is just the time of year that explains the result of zero.


© Sandy Mattingly 2007


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Dec. 13, 2007 - RE: no loft FSBOs for the Holidays

Posted by J.J.

Are you sure?

http://realestate.nytimes.com/sales/detail/253-NS7121222

http://realestate.nytimes.com/sales/detail/253-NS7111649

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Dec. 14, 2007 - RE: no loft FSBOs for the Holidays

Posted by CK
J.J. - The property you refer to is in the Campiello Collection and it hardly qualifies as a loft.  The apartment is a duplex (most lofts are not) with a ceiling height of only 9 feet (true lofts with an industrial history have much higher ceilings) and it lacks provenance (it was built from the ground-up on a former parking lot;  the NYC DOB website indicates construction began in 2001).
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Dec. 18, 2007 - RE: no loft FSBOs for the Holidays

Posted by Sandy Mattingly
JJ -- Funny thing is I did my search just before this hit the market (listing on NYTimes.com says “date posted 12/13/07”). Similar thing happened last time I did this, back in July, when reader Jess found another FSBO almost immediately after I posted about there being only 1 FSBO loft then.

BTW, I *do* count that as a “loft” – CK’s valid comments about The Campiello Collection notwithstanding – because they call it a loft. It just gets too complicated trying to keep track of units called “lofts” that are not *really* lofts ….

But I like your loft-snobbery, CK. (It matches mine.) With low ceilings and being (relatively) new construction, Campiello Collection is not technically / classically / authentically a loft building. Plus, in the case of #2A, the layout is very “apartment” (somewhere on that floor plan there must be an open kitchen, however).

Tony Sargent of PruDE has it (almost) right about this building. He has #3C in contract; he calls it a “loft style” apartment.

I would love to be THE Loft Cop, but I don’t think I can be hired to tell people what is and what is not a loft. Darn.

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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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