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Manhattan Loft Guy

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Manhattan Loft Guy

Blog by Sandy Mattingly

New York, New York

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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RE: loft developer in default at 654 Broadway
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RE: does not compute / 2007 + 10% = no sale?
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Manhattan Loft Guy

loft developer in default at 654 Broadway

Sep. 15, 2009

Categorized in: loft neighborhoods / NoHo

Tagged with: broadway, default, new development, real deal, renovation, retail

Not a pretty story reported in The Real Deal (last Friday, on line) about a Manhattan loft developer default, CIT Group sues for $12M at Noho condo site. I don't have a lot of any experience running numbers on a development project, but this seems like it

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the (boring) details about building financials that can prevent your loft from selling

Feb. 4, 2009

Categorized in: Manhattan real estate business

Tagged with: coop board, default, fannie, fidelity bond, freddie, lending standards, managing agent, mortgage, ny times

I have heard a couple of stories in the last few weeks from an agent and a mortgage lender about how some of the arcana about a Manhattan coop's or condo's finances make it difficult or impossible for a prospective buyer to get a mortgage. Then Sunday's N

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