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modesty rewarded, but 'how well?' remains the question

August 29th, 2009 11:32 am
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

buying high, selling low (ouch) at 114 Spring Street

August 15th, 2009 5:50 pm
Categorized in: Loft neighborhoods / SoHo
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

170 Fifth Avenue closes AT 2007 (maybe)

August 13th, 2009 7:55 am
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

bidding war erupts VERY late, as 49 Warren St gut job closes

August 10th, 2009 12:54 pm
This one is weird.... I began this post in my mind with a headline like "pricing it VERY right at 49 Warren Street" because the StreetEasy listing associated with the closed sale of this loft on July 29 begins on June 6 at $1.3mm, with an apparent contrac

2005 + 10%? that might work

August 9th, 2009 12:24 pm
Categorized in: Market Trends
Tagged with: 1000ft, 2005, 2007, prime, square, windows
There's a lovely square loft newly available for sale in a prime Manhattan loft area that is asking about 10% more than the clearing price when it sold in June 2005. I think this is likely to be close enough that The Marketwill reward it with an offer off

attack of the Killer Comp (when 2005 pricing does not help)

July 29th, 2009 8:38 am
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

29 East 22 Street closes but is the calendar off?

July 22nd, 2009 10:39 am
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

down a million bucks, now pitching at a pre-2005 $625/ftaa

July 20th, 2009 5:07 pm
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

100 Reade Street sale is straight out of 2005 while wishing for 2008

July 19th, 2009 7:22 pm
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