lofts recently in contract : Manhattan Loft Guy

Manhattan Loft Guy

Mar. 16, 2007 - lofts recently in contract

The seven resale lofts below showed up yesterday in our inter-firm data base as In Contract. A list that resets each day, so it is potentially an interesting snapshot of the Manhattan loft resale market. (Note to self: do these things every once in a while.) Not sure if this really is an interesting snapshot, but perhaps time will tell.

First thing that jumped at me is that three of seven were first listed only in February this year. Over the last six to nine months, I think most people would agree that getting got contract within about four weeks is pretty successful marketing, and reflects that at east some sellers and at east some buyers are getting more in synch.

One of the more mature listings here is the third of three “D” line listings at 55 Hudson St that I blogged about four months ago (Tribeca trifecta on the market / if you need a "D", 55 Hudson is for sale) and updated five weeks ago (two Ds down / only one of 55 Hudson’s fraternal triplets remains) to go into contract. It may be significant that of the three similarly priced layouts in the same “D” floor plan, the 1 Bedroom layout was the last to get into contract.

The most mature listing here (176 Broadway #9F) took 16 months, but succeeded off the same asking price as they started at in November 2005. One wonders if the sellers became more negotiable at that asking price than they were originally, or if the marketplace of buyers became more accepting of the asking price as a reasonable price. Similar story of asking price stability -- without the zig-zags -- at 118 E 25 St 7th fl and at The Lions Head, 121 W 19 St #7D (both on sale since October).

	Asking (earlier)	Quoted size	Came to market on
118 E 25 St 7^th fl	$2.595mm	3,800 sq ft	Oct 12, 2006
16 Hudson St #5E	$1.875mm	1,500	Feb 9
55 Hudson St #6D	$1.835mm ($1.865mm)	1,600	Oct 29, 2006
808 Broadway #3ML	$1.8mm	1,700	Feb 22
121 W 19 St #7D	$1.299mm	1,134	Oct 14, 2006
176 Broadway #9F	$995k ($1.025mm) ($995k)	1,600	Nov 9, 2005
67 E 11 St #518	$765k	700	Feb 17

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Sandy Mattingly is Manhattan Loft Guy; now with The Corcoran Group, he can be reached most easily at Sandy@ManhattanLoftGuy.com or 917.902.2491. Since March 2006, this blog has addressed matters of interest to Manhattan coop or condo loft apartment dwellers, buyers, sellers, and others interested in New York City real estate.

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Mar. 16, 2007 - lofts recently in contract

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