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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. 16, 2009
The Manhattan loft #3W at 66 Ninth Avenue (The Porter House) was marketed very enthusiastically at prices The Market was not ready for. It cleared on June 23 at $2.15mm, which is a difficult number to put in context. In the context of neighborly competiti
Aug. 13, 2009
Categorized in: Market Trends
If I am reading the listing descriptions and pictures correctly, the very recent sale of the Manhattan loft #5 at 170 Fifth Avenuefor $2.945mm was essentially flat since the February 2007 sale of #3 for $2,972,500. What has been preserved of the third flo
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. 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. 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
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. 8, 2009
Categorized in: Market Trends
There's a lovely Manhattan loft newly offered for sale at about 15% above where it was bought brand new 4+ years ago. Why do I think this is a modest asking price? Neighbors downstairs sold their (identical) loft in 2007 about 25% above the new asking pri
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. 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
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. 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. 11, 2009
Categorized in: pricing analysis
I've been mulling a long-ish post on price discovery for quite a while (not writing it, obviously; just mulling). Pulling together some interesting riffs by other bloggers and news articles and market activity (and market inactivity), all in service of th
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