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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. 15, 2009
The Manhattan loft #2 at 114 Spring Street has (and has had) a lot to recommend it: prime Soho location, "1,900 sq ft", 12 foot barrel-vaulted ceilings, bright lights and cast-iron views, and a renovation described as "magnificent" (Venetian plastered wal
Aug. 12, 2009
Categorized in: Market Trends
The new development at 246 West 17 St poses a bit of a description conundrum for true Manhattan loft snobs, as it is both a conversion of a 3-story loft building into true "lofts" and the addition of 7 floors of ("loft-like") new construction on top of th
Aug. 2, 2009
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The Manhattan loft #7A at 105 Fifth Avenue closed on July 22 at $1.125mm, only a 4% discount from the (last) asking price of $1.175mm, proving that if you drop the asking price enough you don't have to discount very much to make a deal. (File this un
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. 20, 2009
Categorized in: Market Trends
There's a rather large Manhattan loft for sale at a new price that is $1mm less than the original asking price. When it came to market last Summer (happy birthday wishes are now in order) a smaller loft in the building had just cleared at about $850/ft. T
Jul. 18, 2009
A Manhattan loft on the 5th floor at 69 Wooster Street closed in April under $1,000/ft, despite the fact that it was "newly renovated in a classic but modern style" and a ridiculously low maintenance ($0.42/ft). These sellers also bit a pretty big bullet
Jul. 11, 2009
It is fair to assume that the sellers of the Manhattan loft on the 3rd floor at 50 Warren Street were quite frustrated with how ... realistic ... they had to be to sell, considering that they started in February 2008 (the height of The Market, pretty much
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
Jun. 26, 2009
I wish I had a transcript for the negotiating that resulted in the June 12 closing of the Manhattan loft #4B at 73 Worth Street. The 'simple' facts are that it had been asking $3.2mm and the deal was done well south, at $2.69mm. $510,000, or 16% -- that's
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. 20, 2009
Categorized in: Market Trends
In looking at recent loft sales, I came across these five cases (in four buildings) in which a Manhattan loft developer took a pretty good discount from the last asking price to close a deal. In one case*, it is the first closing in the building; in the o
May. 1, 2009
The Tribeca Summit at 415 Greenwich Street is a candidate for poster boy for bi-polar psychosis (an armchair diagnosis). The Manhattan loft deluxe condo conversion of a warehouse has been marketing since Summer 2006, at a time when the arms race among hi
Apr. 29, 2009
The Manhattan loft #7A at 497 Greenwich Street closed on April 16, just less than a month after going to contract. Not many Manhattan residential real estate agents make Page Six (I hope), but that august source seems to think this sale happened after a l
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. 24, 2009
Categorized in: Market Trends
Of course, I have no idea what this seller's actual emotions are, but the fact that the March 2009 seller at $2.55mm was a buyer in the original conversion in February 2004 for $1,970,314 suggests that this seller may be a little chagrined at not getting
Apr. 22, 2009
Categorized in: Market Trends
Long-time blogger / honest agent Doug Heddings has an interesting slice of current Manhattan coop and condominium market data from PruDE's signed contracts files for weeks ending from March 6 through April 3. Here is one nugget: Spread between contract pr
Apr. 2, 2009
The headline of the Josh Barbanel piece in this morning's New York Times pretty much says it all about the major firms' First Quarter Manhattan residential real estate market reports: Apartments Sell for Less if They Are Sold at All. There will be much t
Mar. 18, 2009
Using this painful Manhattan loft story as a jumping off point, this scenario shows the danger of coming to market at a price far removed from where buyers are: you don't get any offers and you probably get little or no open house traffic or phone call in
Feb. 13, 2009
Categorized in: Market Trends
Interesting graph on yesterday's Curbed contribution from The Miller, Three Cents Worth: Listing Discount A Spiked Punch . Bottom Line is that what The Miller calls Listing Discount (the gaps between the last listing price and the contract price) was 7.3%
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
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