New Listings + Sales of Manhattan lofts in last 7 days : Manhattan Loft Guy

Manhattan Loft Guy

Nov. 25, 2007 - New Listings + Sales of Manhattan lofts in last 7 days

This is my sixth report on the number, price distribution and neighborhood distribution for Manhattan lofts reported as new to the market or as closed sales in the last 7 days. Clearly, this holiday week was a short week and there's not a lot to say.

For information about how I get this stuff and why I slice it as I do, see methodology for New + Sold in The Last Seven Days. I have addressed irritating things about collecting and parsing "loft" data in past reports, but here's another thing that messes with my data: some "loft" buildings have listings denominated "loft" and listings that are not said to be "lofts". I can't control for those things, as I am sure I do not notice them every time.

Take 1 York Street, a new development built behind and above a retained façade just below Canal Street at 6^th Avenue. Unit #5C is for sale in the inter-firm data base as a "1,589 sq ft" "two bedroom" apartment, though the building is said to be a (new, not converted) "loft". In contrast, #3C is for sale as a "1,589 sq ft" "loft" - though they look the same on the BHS website, which describes the building not as a loft but as a "hi-rise". #4B and #5B show the same schizophrenia, as do #3B and #5B. Go figure.

The stats as of Sunday night ...

there were 11 lofts reported as new to the market in the last 7 days, and also 11 reported as sold
6 of the 11 new ones are offered from $2mm to $4mm; 7 of 11 closed sales were from $1mm to $3mm
2 of the 11 new loft listings are in new developments (243 West 60 Street), and 4 of the 11 closed sales (3 at 110 East 97 Street)

By price	New = 11	Sold = 11
$500k to $999k	1	1
$1mm to $1.99mm	4	5
$2mm to $2.99mm	2	2
$3mm to $3.99mm	4	1
$4mm to $4.99mm
$5mm+		2

By neighborhood	New =	Sold =
BatteryParkCity
Carnegie Hill		3
Chelsea
Clinton
EastVillage		1
Financial District	1
Flatiron	1	1
Gramercy
Greenwich Village	2	1
Kips Bay		1
LittleItaly
Lower East Side
Murray Hill
Midtown West	1
SoHo	1	2
Tribeca	2	1
TurtleBay
Upper East Side
Upper West Side	2
WestVillage	1	1

New loft listings in new developments

243 West 60 Street (Adagio 60)

Sold lofts in new developments

110 East 97 Street	3
186 Fifth Avenue	1

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Nov. 25, 2007 - New Listings + Sales of Manhattan lofts in last 7 days

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