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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. 11, 2009
The Manhattan loft #2 at 5 Great Jones Street was marketed for its character ("authentic artist" loft, 14 foot tin ceilings) and its provenance ("[o]nce the home of Jazz great Charles Mingus and the creator of Big Bird Kermit Love"). At "2,300 sq ft" on a
Jul. 29, 2009
Categorized in: Market Trends
There's a pretty big Manhattan loft in a Chelsea corner that has been patient at an asking price around $1,100/ft for 3 months, which is just slightly less than the loft sold for in 2005. Ouch. It is a lovely loft, full of mints and proper proper names, w
Jul. 28, 2009
The Manhattan loft #3 at 21 Bond Street was sold this month (July 17, deed filed last Friday) in "bring your imagination" condition (no interior pix), and suggests that the limitation of a buyer needing 'extra' cash to fund a renovation -- like many -- ca
Jul. 27, 2009
There's a Manhattan loft (fairly) newly for sale that caught my eye as a potential test of one of the limits that is more limiting in the current market than in prior markets: selling a space that will need substantial (if not gut) renovation. With mortga
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. 22, 2009
Categorized in: Market Trends
Let's try something new for Manhattan Loft Guy. I give you two sales of same-size lofts in the same building, with condensed descriptions and listing histories, and you guess which one is from 2009 and which one is from 2005. Both are said to be "1,600 sq
Jul. 21, 2009
How's this for getting it right? The Manhattan loft #2A at 161 West 15 Street came to market on January 16 and found a contract in 32 days (it closed May 12 but took a long time to be public; the price is still missing on StreetEasy and can be found on Pr
Jul. 19, 2009
The first Manhattan loft is #5A at 100 Reade Street, which came to market in August 2008 (immediately pre-Lehman, for those who need that reminder) at $1.95mm and changed firms and prices (trying $1.8mm, $1.75mm, $1,7mm, $1.65mm) before finding a contract
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
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