getting very serious about price at 543 Broadway : Manhattan Loft Guy

Manhattan Loft Guy

Aug. 15, 2007 - getting very serious about price at 543 Broadway

quarter million is “serious”

I talked about the 2d fl at 543 Broadway when it was new to the market in April (wondering about the 1 Bed Wonder at 543 Broadway – how much for how big?), about which I had a nice email dialogue with the listing agent at JC DeNiro, Greg Leveridge. The price then was $2.275mm, but it dropped to $2.15mm a month ago.

m-o-t-i-v-a-t-i-o-n?

They just dropped the price another quarter ton, to $1.895mm.

Here’s what I said about it when it was fresh:

This is a true 1 Bed Wonder (what is a One Bed Wonder?), as it is Long and Narrow, with windows only on one narrow side (over Broadway, on the second floor). There’s one bathroom, as configured, but it looks as though you could add a second along the long wall that has both the master bath and the kitchen.

It still has only one bathroom and only three windows (over Broadway), with one (interior) bedroom. But it is $355k of the April price.

size matters

My email dialogue with Greg was about whether or not the space is “really” “2,500 sq ft”. Here’s what he said about how the building derived that number:

If you also look closer within propertyshark.com you'll see the residential square footage of the building as a total of 50,000sf. Divide that among the 20 apartments within the coop which are all of identical size and you get the 2500 square feet which the building offers its approximate square footage as.

This is probably a common way that coop sponsors came up with “approximations” of size in the original offering plan.

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Aug. 15, 2007 - getting very serious about price at 543 Broadway

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