Powered by RealTown Blogs

Manhattan Loft Guy

Mar. 31, 2007 - slippery sales data in NY Times at 80 Warren St

 
they do the best they can with what agents tell them, right?
Tomorrow’s NY Times (available today on-line and for home delivery subscribers) features a Tribeca loft in the Residential Sales Around The Region section. The data are … not so accurate.
 
A penthouse duplex at 80 Warren Street is said to have been on the market for 6 weeks at $1.95mm and sold for $1.9mm. Sounds like a cool unit, with a terrace and skylight, but the actual listing history is very different.
 
Our inter-firm data base shows that the penthouse was first offered for sale in July 2006 for $2.5mm, then dropped to $2.35mm in September and $1.95mm in October, before having a signed contract in late November.
 
Yes, that is six weeks after the last price change, but the sucker was on the market for nearly 20 weeks – a datum at least as relevant to a buyer as knowing it had been six weeks since the last price change.
 
cutting to the chase, cutting through the pain
Kudos to the owner and agent (James Attard at Tabak), by the way, for aggressively adjusting the price to get a sale. On the one hand, they ‘only’ got 76% of their original asking price. On the other hand, they got it sold. I think last Fall was a much tougher market for sellers than this Spring, but they couldn’t know that last fall.
 
Bottom line: don’t believe everything you read. (d’oh)
 
© Sandy Mattingly 2007
Comments (0) :: Post A Comment! :: Permanent Link
View more entries tagged with: , , , ,

Write a Comment
Your Name:  RealTown Members: Click here to login
Your E-Mail: 
Your Website: 
Subject: 
Your Comment: 
Notifications: 
Privacy: 
Verification: 
To verify that you are a human and not a script, please enter the verification word from the image into the box on the right.
 

on matters of interest to Manhattan coop or condo loft apartment dwellers, buyers, sellers, and others, especially about New York City real estate

Recent Posts

• loft developer in default at 654 Broadway
• nice price at 40 West 24 Street? (consider the renovation)
• 8 years, still fresh
• do any of you people know how to pray?
• new loft price needs to be justified


RSS Blog Feed

Categories

apartment types
bubble talk
caution: no real estate content
change is a constant
economic "analysis"
general weird stuff
In the news (me)
loft features / amenities
loft features / kitchens
loft features / outdoor space
loft features / "space"
loft features / views
lofts in 'other' neighborhoods
Loft neighborhoods / Chelsea
Loft neighborhoods/ East Village
Loft neighborhoods / Flatiron
loft neighborhoods / NoHo
Loft neighborhoods / SoHo
Loft neighborhoods / Tribeca
loft neighborhoods / West 30s
lofts outside New York??
loft style
Manhattan real estate business
Market Data - aggregators
Market Data - reports
Market Trends
Marketing Manhattan apartments
New York, New York, New York
On The Market
open houses
pricing analysis
The Process - buying an apartment
Psychology of the market
public art in Manhattan
schools
truth IS stranger...
what makes a loft a "loft"
internet and blogosphere
renovation opportunities + rewards
One Bed Wonders
new this week


Favorite Links

Manhattan Users Guide (be sure to search the archives)
The Gotham Center for NYC History
Matrix the Real Estate Economy
Hopstop (door-to-door subway instructions)
MTA subway site, including maps + schedules
NYC Dept of Education site
NY State Assn of Independent Schools (find private schools)
cul-cha!
the local TriBeCa newspaper
"the weekly newspaper of lower Manhattan"
Brooklyn, but a great blog

Links

• Home
• View my profile
• Archives
• Email Me
• Blog Manager