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Manhattan Loft Guy

Aug. 31, 2006 - The politics (?) of press reporting on recent sales / NY Times picks two hot ones

  
I gotta wonder sometimes about the politics of press reporting on real estate….
 
I am not saying there is a grand conspiracy going on, or even necessarily a single editorial sensibility. And I have not paid enough strict attention to notice trends. But sometimes things jump out at me.
 
Like today, when the NY Times “Residential Sales” section of the Home & Garden section had exactly two Manhattan apartment sales in it and -- for reasons also unknown, but continuing an out-of-town trend -- six sales in Maine (!).
 
What struck me about the studio sale at 250 East 40 St (The Highpoint) is that it sold in ONE WEEK at the asking price. This was followed by a "25 King Street" two bedroom loft that took 14 weeks to sell, but sold ABOVE the asking price.
 
Is this a bubble-busting item? How many closed sales must the Times get each week to choose from? And do they look at their mix, or just pick “interesting” ones? I don’t know anything about real estate in Maine, but four of the six listings featured today sold at or above asking price (a fifth was $2,000 below). Hmmmmm….
 
And, while I am on a string of rhetorical questions – has the Times given up on their real estate blog? There have been two posts in August, for the newspaper of record…. Tsk, tsk, tsk.
 
And, while I am needling the Times … they got the address wrong on King Street. #25 is a rental building; 29 King Street is the former schoolhouse, now condo. And #3-I is the loft unit at 29 King Street that sold above asking price.
 
© Sandy Mattingly 2006
 
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