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on matters of interest to Manhattan coop or condo loft apartment dwellers, buyers, sellers, and others, especially about New York City real estate
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Aug. 20, 2009
One of these days I will do a long post about how The (overall) Market is made up of individual transactions that vary widely from The (overall) Market trend. But not today. Today the news is about a Manhattan loft that is anomalous only if your theory is
Aug. 17, 2009
The Manhattan loft #2B at 161 Hudson Street had a pretty good run through the 2009 market, starting at $2.7mm in March, dropping twice in April (to $2.5mm) and closing June 30 at $2.41mm. That quick history shows that they really wanted to sell, and had a
Aug. 16, 2009
The Manhattan loft #3W at 66 Ninth Avenue (The Porter House) was marketed very enthusiastically at prices The Market was not ready for. It cleared on June 23 at $2.15mm, which is a difficult number to put in context. In the context of neighborly competiti
Aug. 13, 2009
Categorized in: Market Trends
If I am reading the listing descriptions and pictures correctly, the very recent sale of the Manhattan loft #5 at 170 Fifth Avenuefor $2.945mm was essentially flat since the February 2007 sale of #3 for $2,972,500. What has been preserved of the third flo
Aug. 9, 2009
Categorized in: Market Trends
There's a lovely square loft newly available for sale in a prime Manhattan loft area that is asking about 10% more than the clearing price when it sold in June 2005. I think this is likely to be close enough that The Marketwill reward it with an offer off
Aug. 3, 2009
The Manhattan loft conversion at 158 West 23 Street started marketing in mid-2007, offering floor-through lofts of "1,865 sq ft" that were offered as open spaces with full kitchens and (usually) (only) 1.5 baths. I.e., not exactly white boxes, but with sp
Jul. 31, 2009
You'd think that a stem-to-stern high quality renovation of a Manhattan loft would both (a) cost and (b) be worth at least $250/ft, wouldn't you? There is a loft in prime Tribeca that was gutted after being purchased in April 2007 right around $1,000/ft a
Jul. 26, 2009
The Manhattan loft #8 at 43 East 19 Street is a lot of loft: "4,100 gross SF per floor" plus a huge terrace (half the size of a full floor, at "2,050 sq ft"). The listing description emphasizes volume over finishes, while noting "wonderful original detail
Jul. 16, 2009
Officially, the Manhattan "loft" #4A at 175 Sullivan Street was on the market only since January 2009 ("starting" at $3.25mm) before closing on June 16 at $2.65mm -- an apparent 18% discount. But the longer listing history tells a longer, darker story....
Jul. 15, 2009
The Manhattan loft #5B at 107 West 25 Street closed on June 25 (the deed was just filed last week), the first loft to sell in this small building since 2007. Please raise your hand if you are surprised that values have changed in the building since 2007..
Jul. 13, 2009
Categorized in: Market Trends
A not-quite-recent new listing of a Manhattan loft caught my eye because it is in a building in which i have recently looked at a recent sale compared to past sales, and found a 2009 clearing price that approximated an old clearing price. Based on the ope
Jul. 8, 2009
Categorized in: Market Trends
There's a lovely Manhattan loft newly offered for sale at about 15% above where it was bought brand new 4+ years ago. Why do I think this is a modest asking price? Neighbors downstairs sold their (identical) loft in 2007 about 25% above the new asking pri
Jul. 7, 2009
Categorized in: Market Trends
The Manhattan loft #2B at 109 Greene Street has sold three times since it was brand spanking new in 2005. This is going to get bumpy, but let's get out some facts (closing dates and clearing prices), then chew
Jun. 22, 2009
The Manhattan loft 5SE at 9 Murray Street was presented to the market in August 2008 (just before Lehman) with grand ambitions and evident motivation: starting at $1.9mm on August 16, 2008; dropped to $1.8mm in five weeks (and to $1,799,999 -- just for fu
Jun. 12, 2009
The Manhattan loft on the 4th floor at 60 West 15 Street was marketed as a masterpiece (to be), with the interesting come-on that "architects and designers are vying to renovate" it. At "3,133 sq ft", there's a lot of work for those architect and designer
May. 5, 2009
I have long believed that the Chelsea Mercantile conversion of the old Veteran's Administration building into residential lofts on Seventh Avenue at 24th and 25th Streets 'created' a new market for (lower) 'north Chelsea'. (From back in the day, when I ta
Apr. 18, 2009
Categorized in: Market Trends
There's a loft newly offered for sale in a Manhattan Loft Guy fave building (value!) that -- I think -- is taking the right approach to The Market. The 2009 seller was a 2007 buyer, and is starting in The (new) Market at 7% off the market price of The (ol
Apr. 8, 2009
Categorized in: Market Trends
It was somewhat refreshing to come across a Manhattan loft recently new to market that is priced with The (new) Market in mind. The seller knows exactly what life near the top of The (old) Market was like, as s/he bought it two years ago. The seller is te
Mar. 26, 2009
Categorized in: Market Trends
As I said (in all those words above), this is quite an interesting timeline, encompassing Mahanttan loft markets that showed gain to froth to pain: (1) an up market (developer searching for right price in 2002-03), (2) a frothy market (quick sale in 2007
Mar. 15, 2009
Categorized in: Market Trends
There's a new-ish listing in an architecturally significant Manhattan loft conversion from this century that hit numerous Manhattan Loft Guy buttons: it is (another) one of those eight million stories; it was definitely too pushy; it is now priced signifi
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