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Manhattan Loft Guy

- 'nuff said


What more can I say? (THX to hugh at Gaping Void http://www.gapingvoid.com/ )
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Jul. 27, 2007 - re: 'nuff said

Posted by NM real estate
Haha, Gaping Void is too funny! His cartoons are the best!
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Aug. 6, 2007 - Cobblestone Lofts and facade easement donation tax deductions?

Posted by blossom
Does anyone know if the facade easement tax deductions worked out well for the Cobblestone Lofts on Laight Street? I had heard that it initially was OK, but then the IRS came a-calling?
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Aug. 6, 2007 - re: 'nuff said

Posted by Sandy Mattingly
I have no idea, Blossom, and frankly have not heard before this of a Manhattan loft condominium “donating” the façade through an easement to get any tax benefits. This old NY Times article talks about the program (which you seem to know about already) and this National Parks Service page provides a government overview. I gather the IRS *has* been concerned about abuse, and the law was updated last year.
I must be missing something here, as I have always assumed that condos – like coops—manage their financials so as never to have taxable income (so why would an easement be valuable?). But maybe I am wrong.
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Nov. 24, 2007 - RE: 'nuff said

Posted by saj

Dear Mr. Manhattan Loft Guy,

Only a fellow broker could be as vitriolic as you in your patronizing responses to independent brokers.

What is it exactly that you're thinking? That you're better at what you do? More successful? Financially intangible?

It's funny how some of us get to do our job, AND hold on to personal integrity! Nothing you ever managed to do/or aspired to... I'm sure. But hey, brokers come in all varieties, and some are ugly and deeply disturbed.


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Nov. 24, 2007 - RE: 'nuff said

Posted by Sandy Mattingly
Sorry, SAJ, but you've lost me here. You've picked the post of mine least likely to be viewed (I sincerely believe) as vitriolic, patronizing, ugly or deeply disturbed ('cuz it's not really mine), which makes it very hard for me to see where I have offended you.

Happy to reconsider any posts or comments that I have made that you feel *are* vitriolic, patronizing, ugly or deeply disturbed, but you'll have to be more specific....

THX for stopping by; please consider taking the time to be more specific.
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Mar. 3, 2008 - RE: 'nuff said

Posted by Sandy Mattingly
Yes, there’s some serious (authentic!) grit on Duane between Broadway and Church -– dramatically more than one or (especially) two blocks west. (Love that firehouse, though.)

I am not aware of any plans to build anything new over there. That block is not part of the Tribeca East Historic District (except for 70 Reade / 112 Duane, which runs through the entire block to Reade). Most of the residential buildings seem to have very little unused FAR to build bigger, but you *never* know.

So … to me it is impossible to answer this question out of context …. How do *you* feel about grit? What other choices do you have for your money and space needs? (That Broadway to Church block is lower priced not only for Duane, but also for Thomas and White, for good reason.) There is *value* on a block like this for buyers for whom the factor that drives down the Market Value (here, grit) is not as big a negative for you as it is for other buyers. What does your agent say about the block?

BTW, I see only 1 available listing on this block (at least through REBNY firms), and that one is in contract (are you looking at a 2d floor unit asking $2mm?).

THX for the compliments, Celia, and for stopping by. Good luck. Feel free to email with any other questions: sandy [dot] mattingly [at] cbhk [dot] com.

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Sandy Mattingly is Manhattan Loft Guy; now with The Corcoran Group (http://corcoran.com/ ; but see the disclaimer at the bottom of the page), he can be reached most easily at Sandy@ManhattanLoftGuy.com or 917.902.2491, and followed on Twitter @ManhattnLoftGuy (note "mis-spelling"). After 7+ years, the blog has moved. Links here on RealTown will work for the foreseeable future, but new posts (and all the old content) has migrated to ManhattanLoftGuy.com.

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