wheel stopped spinning / contract at 704 Broadway after a million weeks : Manhattan Loft Guy

Manhattan Loft Guy

Jan. 12, 2008 - wheel stopped spinning / contract at 704 Broadway after a million weeks

staying in the NYU corridor
It’s been a busy blogging week for me near NYU, with posts this week about lofts with birthdays at 710 and 716 Broadway (710 Broadway is slimmer after holiday break and 716 Broadway has another birthday loft). more positive news coming from that micro-nabe than birthday candles and price drops, as the toddler on the block -- 704 Broadway 2d floor – is in contract as of yesterday.

To appreciate just how significant news that it is, try this: February 9, 2005 [yes, two thousand FIVE] was when it came to market. That’s 4 weeks short of a third birthday.

I hit it the last time the price changed, Oct. 28, 2007 - big price bump on long + winding road at 704 Broadway, where I described it as:

a big one: "5,000 sq ft" for (as of this weekend) $5.795mm and (only) $2,647/mo (condo), offered through Holly Parker of PruDE by a "developer who has thought of every luxury detail" and many exclamation points.

Yes, it does look very luxurious, and certainly is massive. But the most interesting thing to me (not having any buyer at the moment at this price point) is the history. (Are you sitting down?)

Feb 2005: $5.495mm
June 2005: $5.8mm
March 2006: $6.2mm
May 2006: $5.95mm
Dec 2006: $5.75mm
Feb 2007: $5.499mm
May 2007: $4.995mm
Oct 2007: $5.695mm

This is one listing that puts the history in listing history!

I hope Jeremiah will track it
Of course the punch line here will be when we learn what the contract price is, when it finally does close. Unless the seller credibly ‘sold’ the summer price as the product of delirium, it is hard to see why a bidder would not have thought the thing could be bought under $5mm.

Ironically, reader Jeremiah commented overnight on the Oct 28 post that he saw the price had been raised again, to $5.8mm. Not sure where that (incorrect) information came from, but I hope he will catch the closed price if I miss it.

another personal record
This is easily the most mature listing I have tracked. Also, interesting that there are 7 price changes but no price was repeated. Quirky, quirky, quirky.

Congratulations to Holly Parker and the ever-so-patient (if peripatetic) seller.

© Sandy Mattingly 2007

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Jan. 12, 2008 - wheel stopped spinning / contract at 704 Broadway after a million weeks

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