Powered by RealTown Blogs

Manhattan Loft Guy

Apr. 24, 2009 - how to be happy selling for $1mm+ off at 43 West 64 Street


don't cry for me Argentina
You'd be tempted to assume that a Manhattan loft seller with this listing history would not be happy:

to market April 28, 2008 at $3.85mm
price drop June 23 to $3.595mm
price drop October 17 to $2.95mm
price drop November 14 to $2.8mm
contract December 19
closed March 13 at $2.55mm

Don't go there! Of course, I have no idea what this seller's actual emotions are, but the fact that the March 2009 seller at $2.55mm was a buyer in the original conversion in February 2004 for $1,970,314 suggests that this seller may be a little chagrined at not getting anywhere near $4mm but should be happy with a 25% gain in five years.

This "penthouse" loft, #9D at 43 West 64 Street, is part of a Costas Kondylis warehouse conversion (remember when they used to brag about architects?). Classic Manhattan loft elements include 13 foot vaulted ceilings and large windows. This one was marketed as having Central Park views. There's no shame in getting only $1,600/ft, is there?
 
heck of an effort
Of course, they were looking for a lot more than a 25% gain when they started, but I hope they were happy with that five year gain.
 
They spent 8 months not getting what they were asking for, ending last month a full one-third off from where they started 12 months ago, and 9% off their last asking price. Note the large move they made in October, post-Lehman. Note that they made another six-figure drop 4 weeks later. Note that they negotiated well below that last asking price within 4 weeks.
 
No kidding ... these sellers may have started too high, and may have been stubborn through the Summer, but they adapted in October and got it done. No kidding ... I hope they are happy. I am pretty sure they are relieved.
 
 
© Sandy Mattingly 2009 

 

 

 

Comments (2) :: Post A Comment! :: Permanent Link
View more entries tagged with: , , , , , , , ,

Nov. 25, 2009 -

Posted by www.topuggshoes.com

http://www.topuggshoes.com

Ugg Classic Cardy Boots

Ugg Classic Tall Boots

Ugg Classic Short Boots

http://www.af1world.com

 

Permanent Link

Nov. 26, 2009 - ugg boots on sale

Posted by topuggshoes

 

Women's Ugg Classic Tall Boots are very practical footwear. The skin being the external layer and

fleece used as a warm lining makes them feel comfortable and soft. The feature make it possible to warm your feet in cold weather, but in the same time the material lets the skin breathe and works as a natural air-conditioning in the summer. Women's Ugg Classic Mini Boots definitely belong to the finest products in sheepskin footwear. You can wear Ugg Classic Short Boots with skirts or jeans, put them on for work, for school, when going shopping, or late night party. The wool insulates your feet in the cold weather, but breathes in the heat, Ugg new styles so you can wear them not only during winter, but in summer months as well.

Permanent Link

Write a Comment

Your Name:  RealTown Members: Click here to login
Your E-Mail: 
Your Website: 
Subject: 
Your Comment: 
Notifications: 
Privacy: 
Verification: 
To verify that you are a human and not a script, please enter the verification word from the image into the box on the right.
 

on matters of interest to Manhattan coop or condo loft apartment dwellers, buyers, sellers, and others, especially about New York City real estate

Recent Posts

loft developer in default at 654 Broadway
nice price at 40 West 24 Street? (consider the renovation)
8 years, still fresh
do any of you people know how to pray?
new loft price needs to be justified


RSS Blog Feed

Categories

apartment types
bubble talk
caution: no real estate content
change is a constant
economic "analysis"
general weird stuff
In the news (me)
loft features / amenities
loft features / kitchens
loft features / outdoor space
loft features / "space"
loft features / views
lofts in 'other' neighborhoods
Loft neighborhoods / Chelsea
Loft neighborhoods/ East Village
Loft neighborhoods / Flatiron
loft neighborhoods / NoHo
Loft neighborhoods / SoHo
Loft neighborhoods / Tribeca
loft neighborhoods / West 30s
lofts outside New York??
loft style
Manhattan real estate business
Market Data - aggregators
Market Data - reports
Market Trends
Marketing Manhattan apartments
New York, New York, New York
On The Market
open houses
pricing analysis
The Process - buying an apartment
Psychology of the market
public art in Manhattan
schools
truth IS stranger...
what makes a loft a "loft"
internet and blogosphere
renovation opportunities + rewards
One Bed Wonders
new this week


Favorite Links

Manhattan Users Guide (be sure to search the archives)
The Gotham Center for NYC History
Matrix the Real Estate Economy
Hopstop (door-to-door subway instructions)
MTA subway site, including maps + schedules
NYC Dept of Education site
NY State Assn of Independent Schools (find private schools)
cul-cha!
the local TriBeCa newspaper
"the weekly newspaper of lower Manhattan"
Brooklyn, but a great blog

Links

Home
View my profile
Archives
Email Me
Blog Manager