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Manhattan Loft Guy

Jul. 23, 2007 - back story to NY Post Just Sold at 256 W 10 St

 
fast and furious sale
256 West 10 Street, sold for $1.9mm off an asking price of $1.75mm after 21 weeks on the market. (No pix or floor plan on PruDE’s website, but they must have been there when it was a live listing.) Said to be “1,400 sq ft”, with maintenance of $1,800/mo.
 
The Post described it as:
 
Prewar three-bedroom, two-bathroom loft co-op, 1,400 square feet, with terrace, wood-burning fireplace, exposed brick, beamed 13-foot ceilings, entrance foyer, dishwasher, dining area, new oversized windows and S/W exposures
 
But it was actually a lot faster than the Post feature indicates.
 
is that really a loft?
There are not many true loft buildings in the far west village, but this appears to be one of them. It has been many years since I have been inside, but this was clearly something other than residences when it was built in 1911 (warehouse?). 13 foot ceilings establish that.
 
Unit 3D came to market at Christmas (the inter-firm data base shows the original price at $2.05mm, then dropping to $1.75mm in four days, so I suspect the real asking price started at $1.75mm.) The Market liked that price, as there was an accepted offer by January 14, which took three weeks to get into contract (lawyer squabbles??) and another three months to close (coops!). So the actual time it was available to a buyer was quite short.
 
how else to tell The Market liked it?
The other way to tell that The Market liked this listing (apart from the quick acceptance of an offer) is that the sales price is $150k over ask (more than $1,300/sq ft for a coop). Happy seller, I am sure.
 
© Sandy Mattingly 2007
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