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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. 29, 2009
Categorized in: pricing analysis
Sometimes Manhattan Loft Guy gets it right. I posed a question on July 8 that was answered very quickly: will pricing 25% below 2007 hit The Market in a sweet spot? The answer came in an update on StreetEasy the very next day: contract signed. It sure is
Aug. 28, 2009
Categorized in: Market Trends
I checked in at 66 Ninth Avenue (The Porter House) on August 16 (Porter House loft may be "beyond the beyond" but sells off a million, up 40% or down 25%) to tell a tale of Manhattan loft sellers who recently closed 40% above their November 2003 purchase
Aug. 25, 2009
Of course The Market does not care what a seller has to pay, or has paid; The Market only cares about what the seller and buyer can agree upon. In this case, the July 31, 2009 buyer of a renovated loft and the June 19, 2008 buyer of a blank canvas agreed
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. 6, 2009
Categorized in: Market Trends
The Manhattan loft in the new development (well, it was new in 2007) Five Nine John Lofts, #PH2 at 59 John Street, closed on June 24 at the recently public price of $1.35mm. Billed as the "last sponsor unit", this "1,612 sq ft" loft (with "1,592 sq ft" wr
Jul. 1, 2009
Categorized in: pricing analysis
There is a lovely (anonymous!) Manhattan loft for sale that is almost a One Bed Wonder (haven't talked about one of those for a while). It is rather large, wonderfully renovated in a manner tres chic moderne, and has had a bit of trouble finding The Mar
Jun. 25, 2009
Categorized in: Market Trends
There's a Manhattan loft new to market in a building that has had a fair amount of activity in the past couple of years. One bit of that activity was this very same loft, selling in February for $1.73mm. When that happened, the loft was a poster child for
Jun. 23, 2009
The Manhattan loft #12C at 315 West 36 Street was marketed with some urgency, some big price drops, and all caps (I have taken that annoying formatting off): "major price drop, must sell immediately!!!". Darned if they didn't do it (not "immediately", but
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. 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
Apr. 14, 2009
You might look at the successful 9 day marketing campaign (NINE DAYS!) a year ago of the Manhattan loft #7B at 10 Bleecker Street as a marvel of timing, in the sense of how marvelous (for these sellers) to time the top of the market. After all, they got
Mar. 27, 2009
Categorized in: Market Trends
I am going to mention this Manhattan loft contract signing while my eyes are still bulging; I will update with a clearing price when (if??) it closes and the price is available. My eyes widened -- but did not bulge -- when I saw that this awfully large l
Mar. 4, 2009
Categorized in: Market Trends
It is very challenging for most sellers to understand just how much The Market has shifted. Most sellers will acknowledge that they won't sell now near peak prices, but they are reluctant to 'give back' much more than that. That's why I find some of the
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. 6, 2009
Categorized in: Market Trends
Remember: that last sale was at a slightly higher price-per-foot than this one started at, and sold quickly at (essentially) full ask. Need further proof that the Winter 2009 Manhattan loft market is different from the Spring 2008 market? I will keep an e
Jan. 7, 2009
Categorized in: Market Trends
I have been following a funky-but-spectacular (in its way) Manhattan loft and -- after noting the last price drop (and reading a little frustration between the lines of the marketing text) -- I checked on two other units in the same building also for sale
Jan. 2, 2009
The Manhattan loft #5B at 90 Hudson Street was certainly pushing the envelope when it came to market in September 2007 at $1.495mm (we know this because it did not sell). That ask was roughly $1,500/ft in a no-frills-mature Tribeca coop, but the sellers w
Dec. 31, 2008
Categorized in: Market Trends
I started with The Caledonia at 450 West 17 Street because I happened to note a recent Manhattan loft closing there and was curious about the building as a laboratory to check The Stoler Hypothesis about walk-away buyers. The Caledonia turns out to be a t
Dec. 30, 2008
How's this for a quick sale? The Manhattan loft #3B at 139 Reade Street came to market on September 28 at $2.875mm and found a contract within six weeks, then closed in another 4 weeks. In any market it could be considered quick work to bank your cash 11
Dec. 29, 2008
Categorized in: Market Trends
So ... it is hype to say that sales are taking place because the truth is that there's been little or no sales activity. Let me offer some more hype, then. Looking only at sales of Manhattan lofts (as in transactions reported as Sold & Closed), on average
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