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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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Jun. 29, 2009
The Manhattan loft #4B at 161 Grand Street closed last week for $1.71mm after a relatively brief (successful) campaign. This "1,831 sq ft" "beautiful and spacious" loft was marketed as being in "move-in" condition -- a relatively modest description for a
Jun. 15, 2009
There's a Manhattan loft newly returned to market in a brand-name Tribeca building that has been for sale for quite a while. It is now on its third firm and fourth price. It is hard to see that the new firm and new price will have more luck than the last
Jun. 11, 2009
Two Manhattan lofts at 144 West 18 Street (known, not poetically, as the Chainworks Building) closed 6 months apart. You won't be surprised to learn that the one that closed 6 months ago (#4N) closed higher than the one that closed last month (#3N), thoug
Jun. 9, 2009
The Market just proved that the Manhattan loft #10A at 99 Jane Street is worth $4mm, as that is the clearing price just now publicly available from the May 30 closing. That strikes me as at least a bit odd, as this loft started to market a year ago at tha
May. 8, 2009
The Manhattan loft #4-I at 260 Park Avenue South sold in March $2,000 lower than these sellers paid in July 2006.
May. 6, 2009
Categorized in: Market Trends
Here's another take on the theme of my neighborly competition thread: two all-but-identical Manhattan lofts at 505 Greenwich Street had overlapping marketing histories, prices and success, suggesting that even in this thin market The Market can be relativ
Apr. 27, 2009
In the (entirely fictional) Manual of Style for real estate agents, the phrase "museum quality" is used because (I guess) "quadruple mint" just does not zing. (The fact that few people actually want to live in a museum may mean it is used ironically, but
Apr. 23, 2009
Categorized in: Market Trends
Can we agree that the peak of The Market was 1Q08? (Maybe not for very single property, I know, but let's speak generally about that.) Then how to explain this Manhattan loft, newly back to market? It sold in that peak quarter around $1mm and is now back
Apr. 21, 2009
Categorized in: Market Trends
The eight months it took to sell that Manhattan loft straddled the Lehman + AIG + miscellaneous crap = chaos turn of The Market, but it did sell -- around 67% of the original asking price. Now an upstairs neighbor is pushing the envelope a bit, in newly o
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. 17, 2009
Categorized in: pricing analysis
If this neighborly competition occurred in a cookie-cutter "apartment" building in Manhattan (even a high-end "apartment" building), the outcome would be clear: no one would bid on "B" or "D"; every serious bidder would bid on "F" and probably "E"; while
Apr. 15, 2009
The Manhattan loft #5E at 362 West Broadway was marketed as a true project for real loft lovers ("original loft space"; "bring your architect"; "create your dream home") so you must assume that this "1,100 sq ft" space was not meant to be lived in (by the
Mar. 27, 2009
I just updated my ever-so-popular February 23 post, What's Wrong With These People? agents who speak out of their ... to reflect that the Manhattan loft in question has not sold (or entered into contract), but that the price has been cut 8%. It still has
Mar. 13, 2009
Am I easily thrilled? There's a Manhattan loft new to market in a pretty chic Soho conversion from earlier in this century that will be a pretty good indicator of how The Market has changed for that building in a year-plus. The new one is offered at 6% lo
Feb. 25, 2009
There's a good-sized Manhattan loft in a north Chelsea conversion from earlier this century that sold in August 2005 for $1.575mm. Because they thought that 2008 was not like 2005, they tried to sell about 20% above that, but that did not work. The curren
Feb. 23, 2009
I toured some Manhattan loft open houses yesterday with buyers, and saw some interesting lofts. The "highlight" of the tour was a visit to a loft with a terrific skeleton -- clearly a total gut renovation with a lot of potential (handsome building, high c
Feb. 12, 2009
I came across a FSBO loft listing on NYTimes.com this week for 718 Broadway #6B, which at that time was asking a rather conventional $1.295mm for about "1,400 sq ft". It caught my eye because FSBO lofts in Manhattan remain quite rare.
Jan. 29, 2009
Categorized in: Market Trends
There's a pretty new listing in one of those veddy veddy architecturally significant new Manhattan loft developments that has me scratching my head. Then another one popped up in a less significant but still pretty new new development. Then yet another fl
Jan. 28, 2009
Categorized in: pricing analysis
The risk in pricing a Manhattan loft above where anything in a building has sold is that potential buyers will be turned off by the price before considering the plus factors you tout to justify a record price. In this market, that is a risky approach -- a
Jan. 8, 2009
Fascinating new listing for a Tribeca loft in a fairly recent high-end Manhattan loft conversion. They are asking above $1,250/ft for space that sold in the conversion at around $850/ft, probably with many of the same proper proper names (and other indici
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