O - d - y - s - s - e - y ends at 714 Broadway with 4th floor closing : Manhattan Loft Guy

Manhattan Loft Guy

Apr. 30, 2008 - O - d - y - s - s - e - y ends at 714 Broadway with 4th floor closing

not 10 years, but 2 counts for something
In the entire long history of 714 Broadway #4 it is surprising that I have only hit it once before February, in a Manhattan loft open house review on October 26 (Broadway from Houston to Grace / 4 Sunday open houses). How long a history?

New to market in September 2006 (at $2.1) with a contract signing (December) and Board approval (February), then some unspecified disaster, as it was back on the market in September (at the vastly improved price of $2.5mm), then a price drop in November ($2.4mm) and another in January $2.35mm), then … finally … a(nother) contract signed as of February (that contract generated a since-removed post on Feb 12, "the middle of the end of a long history?") and then -- yes -- a closing (not yet reflected in city records). Whew! (Maintenance is $2,649/ft, commensurate with a no-amenities loft building.) What a long strange trip it had been..

As I said in February (and can now repeat, as it is no longer an active listing of another agent), in October it was marketed as having "3,050 sq ft" of "tremendous potential", with just 1 bathroom and a very Long-and-Narrow footprint. (Curious … the floor plan shows 2 baths.) More recently, it has been described as “3,100 sq ft” “full of charm”, with windows overlooking Washington Square. The web listing is still up, at least as of today.

charm in bricks, pipe and wood
”Charm” is such a personal reaction. I see in the pix the high ceilings (13 feet), exposed brick and pipes, and wide plank floors of many a classic loft. I see virtually nothing of the kitchen or bath(s), implying that this is a “project” – essentially a buy-and-gut job at this price point.

no premiums nearby
I see no sales in this building in nearly five years, since the 9^th floor sold in August 2003 off an asking price of $1.55mm (check out picture #2 for an “awww” shot of snowy Washington Place toward the square and #14 for a shot of how an “artist’s” loft earns that name). I have no idea what the trading price was then.

I have hit this block four times since New Year’s, about a new listing at 718 Broadway (on January 30), a contract at 704 Broadway (January 12), a birthday loft at 716 Broadway (January 11) and a price drop at 710 Broadway (January 9). Not a $1,000/ft closing in the bunch….

Of course, to determine if there are any active listings in the building, one can try the building page on Street Easy, here.

© Sandy Mattingly 2008

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Apr. 30, 2008 - O - d - y - s - s - e - y ends at 714 Broadway with 4th floor closing

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