newly in contract at 22 W 26, 260 Fifth, + 57 Bond (even 735 E 9) : Manhattan Loft Guy

Manhattan Loft Guy

Apr. 26, 2007 - newly in contract at 22 W 26, 260 Fifth, + 57 Bond (even 735 E 9)

My quintessential One Bed Wonder is finally in contract! (What is a One Bed Wonder) Unit 2B at 22 West 26^th Street has had quite the marketing odyssey in the last 2 years, with three selling firms and a starting price of $2.695mm. The new price of $1.975mm offered through Vals Osborne of Stribling took two months to do the trick. Congratulations Vals! I will be very curious to see the closing price.

Pretty much around the corner from that one, Unit 9N at 260 Fifth Avenue took ten weeks to get into contract with one change in the original asking price of $2.495mm (to $2.4mm) for 2,110 sq ft with 18 windows, 3 exposures, 3 bedrooms, 2 baths, all “designed to perfection”. The floor plan is nearly square (with 3 exposures and being on – for this neighborhood – a high floor, there looks to be very good light), with the master bedroom tucked behind the kitchen. Maintenance is pretty reasonable for a part-time doorman, $1,884/mo, in a building that requires a 25% down payment.

Property Shark shows that this unit changed hands only 14 months ago for $1.7mm. Perhaps one or two of the mints in the “XXX mint” were added since February 2006.

A pretty spectacular penthouse unit at 57 Bond Street (PH-E) also took about ten weeks to get into contract. “Only” 1,470 sq ft for the $2.695mm asking price ($1,813/mo taxes and CCs), but but but there’s a huge terrace (1,134 sq ft), wood-burning fireplace, and “pure loft grandeur”. The price bounced from $2.695mm to $2.595mm and back over eleven weeks, but it worked.

This unit sold for $1.73mm when the conversion was new in 2004.

The loft-in-a-weird location (735 E 9 Street, #4FW ; see my March 15 new at 9th + D / double secret probation above $1,100/ft) that was much discussed (pilloried?) on Curbed (April 6 Price Spotter and April 9 Big Reveal)went into contract two weeks ago (when I wasn’t paying attention). That took only took four weeks and one price drop (started at $1.4mm, dropped to $1.225mm). Said to be 1,215 sq ft (though it is hard to find them all on the floor plan) in a walk-up building, anything near the $1.225mm asking price is way more than I thought it would get. But the market is the market is the market …. Can’t wait for a closed price.

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Apr. 26, 2007 - newly in contract at 22 W 26, 260 Fifth, + 57 Bond (even 735 E 9)

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