3A seeks to top 3C at 16 Hudson : Manhattan Loft Guy

Manhattan Loft Guy

Sep. 6, 2007 - 3A seeks to top 3C at 16 Hudson

dueling neighbors selling

Unit 3A at 16 Hudson Street is new to the market this week, offered through Jessica Buchman, crossing the river for Corcoran. Asking $2.495mm (maintenance is $1,800/mo) for "1,860 sq ft" with one cook's kitchen, two renovated baths, three bedrooms and 12 windows.

windows and Bogardus

This is one of the unusual Long-and-Narrows, with windows along one short and one long wall -- hence the "sun soaked" claim. Those (long) eastern windows overlook the rather busy West Broadway, while the four south windows face Bogardus Triangle and the Chambers / Hudson / West Broadway intersection. For my money, this is one of the most handsome buildings in Tribeca, the more so because it can be seen from several angles and from a long way off.

original footprint?

All the plumbing is near the front door, with two small bedrooms across from the bathrooms. The "master" bedroom is no giant at 11' 1" x 13", and is a long walk in your PJs to those bathrooms.

My guess is that this room array has not been changed in many, many years, although the kitchen and baths have been upgraded.

nearby comp

Sometimes it is a struggle to get really good comparable data -- recent sales in the same or nearby building, of lofts in similar condition and of similar size. Sometimes it is not.

#3C is next door to #3A, with two windows south and 11 to the west. Asking $2.175mm (maintenance of $1,891/mo) for "2,000 sq ft", this one had a contract signed in July, but has been on the market since November ($2.295mm). It has had success attracting serious interest, but -- to date -- less success making it stick. There was an accepted offer in February that did not pan out, a contract that was signed in March before coming back to market after twelve weeks (Board turn down??), resulting in the contract that was signed two months ago. (With any luck, that baby will close in another month or so.)

I wonder if the #3A ~~buyer~~ seller already knows what the neighbor's contract is worth next door....

what does the comp say?

Compared to #3A, #3C has a more 'interesting' layout, as it is almost a triangle. I recall the kitchen and baths as being pretty basic, rather than "cook's" or renovated (I saw it early this year, with buyers who inspired my March 15 Jagger's Law of Imperfect Lofts / life is compromise (sigh)). This space does not immediately open up the way it does in #3A, and it felt to me a little 'dated' (despite -- or because of -- the "superb floor plan designed by a top architect has withstood the test of time"). As it does next door, the plumbing in #3C is clustered near the door and there is no en suite bedroom.

So I would mark #3C as a little bit bigger and #3A a little more finished (at least as to kitchen and baths). I wonder if the west windows in #3C over Hudson Street can be opened more often than the east windows over West Broadway.

more wonder

I also wonder what the fact that it has taken #3C since last November to find a contract off an asking price of $2.175mm has to say about how long it may take #3A to find its buyer off of $2.495mm....

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Sep. 6, 2007 - 3A seeks to top 3C at 16 Hudson

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