bowing to the inevitable price drop, but 25% impresses : Manhattan Loft Guy

Manhattan Loft Guy

Aug. 4, 2009 - bowing to the inevitable price drop, but 25% impresses

lovely loft, big hit
Speaking of lovely Manhattan lofts (as we were last week, July 31, why isn't a Tribeca premium renovation worth at least 250/ft?) with pricing difficulties (as we were yesterday, ditto), there's a new firm and a price on a loft to root for: this baby just oozes custom touches. (I can't say too much without giving it away to a simple Google search, but they are name-dropping designers and magazines here). Coming to market more than a year ago (sorry I missed the birthday; consider this a late card) at nearly $1,300/ft, they held firm at that price for quite a while. Fairly or unfairly, there's a new firm marketing the loft, and a new price -- under $1,000/ft, 25% off the old one. (This is business; it is neither fair nor unfair.)

You never know from the outside what the dynamic was with this price history. Did the first listing agent insist for a year that The Price Was Right, or did the seller resist professional advice to drop the price? Did the seller and the first listing agent get tired of each other, or did the original agent try to extend the listing agreement at a new price? Did the second listing agent have a difficult time getting the seller to drop by 25%, or was the seller already primed for a significant cut?

ready to deal?

I would think that the new price is sufficient to generate buyer interest, assuming that the bragging and name-dropping in the listing description is deserved. I will be curious to see if the seller will have to discount further to negotiate to a contract, of if it needs only a slight trim after such a big haircut (as with the completed loft sale addressed two days ago, August 2, when you reach the right price ... 105 Fifth Avenue closes, where the final discount-from-ask was slight but the total discount was about 25%).

© Sandy Mattingly 2009

Comments (2) :: Post A Comment! :: Permanent Link
View more entries tagged with: Magazine, Renovation, Custom, Price Drop, Birthday, 1000ft, 1300ft

Aug. 29, 2009 - RE: bowing to the inevitable price drop, but 25% impresses

Posted by tiffany jewelry

We will surprise to find the high quality tiffany jewelry in much. Everyone will focus on tiffany and co, tiffany jewelry. Choose, buy and shop for on sale tiffany jewelry including Tiffany & Co Silver Necklace, Pendants, Bangles, Bracelets, Earrings, Rings and Accessories.

Permanent Link

Nov. 18, 2009 - thank you

Posted by willis

That emans they are realistic enough to see the process and cycle. Luckily I am not in the industry, lol.. Free classified ads , jobs , adjustable bed

Permanent Link

Write a Comment

Your Name:

RealTown Members: Click here to login

Your E-Mail:

Your Website:

Subject:

Your Comment:

Notifications:

Notify me by email when new comments have been posted to this entry.

Privacy:

Private Comment - Do not publish this comment to the public.

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

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