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Manhattan Loft Guy

Jan. 29, 2008 - limits of the loft form / 448 Greenwich St


1,300 sq ft = 1 BR
I touched yesterday on a beautiful little loft that – with only “1,100 sq ft” – is fit for no more than one couple, or even one person (
minimal drop at minimal beauty / 8 West 13 Street drips) that had a price drop this weekend. I cam across another (relatively) small loft that has been on the market for a while that is limited by its shape to being only a 1 bedroom.

448 Greenwich Street 5th floor has been on the market since June, staring at $2.05mm but holding at $1.995mm since September. Said to be “1,300 sq ft”, it is not quite big enough to be a One Bed Wonder, though it is suitable only for a 1 bedroom layout.

squeezing + wedging
The footprint is classic Long-and-Narrow, with the emphasis on narrow. At 17 feet narrow there is no way to squeeze 2 bedrooms in that back area, hemmed in as it is by the mechanicals and stairway on the long north side and by the bathrooms on the long south side. While there is an ‘office’ with a window (‘office’ is a room title often converted to nursery or bedroom), that less than 9 x 7 foot room is wedged between kitchen and bathroom, so can’t be expanded an inch.

This unit has the benefit of 4 exposures, with 2 windows north and 3 south to go along with the 3 each that are front and back.

pause to appreciate the appreciation
The very handsome building was converted to condos in 2003, with the first sales in 2004. The 5th floor sold for $895k in March 2004 and the 4th floor for $880k in February 2004; curiously, these two full floor lofts are shown in city records as “1,146 sq ft” (5th) and “1,148 sq ft” (4th), perhaps via a typo. Nothing in the current listing description suggests that the March 2004 buyer has made any changes to the space or finishes.

Can this micro-nabe support a no amenities (not to discount the ‘fantastic’ common roof deck) condo at nearly $1,500/ft (if “1,300 sq ft” is tight)??


© Sandy Mattingly 2008


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Apr. 25, 2007 - wondering about the 1 Bed Wonder at 543 Broadway how much for how big?

 
The 2d fl at 543 Broadway is new to the market this week, claiming to be “sprawling 2,500 sq ft” of “sexiness, charm and luxury” for $2.275mm ($1,550/mo maintenance). I can’t speak to the sex or charm, but the sprawl is a different matter.
 
This is a true 1 Bed Wonder (what is a One Bed Wonder?), as it is Long and Narrow, with windows only on one narrow side (over Broadway, on the second floor). There’s one bathroom, as configured, but it looks as though you could add a second along the long wall that has both the master bath and the kitchen.
 
Greg Leveridge of JC DeNiro gives the dimensions as 20’4” x 77’ for the main room and 20’4” x 13’4” for the bedroom (without taking anything away for the stair and elevator). That math gives me 1,833 sq ft. Maybe it’s really 24 feet wide (giving only 2,160 sq ft) or maybe it’s not really 2,500 sq ft.
 
Property Shark shows this same unit changed hands last August for $1.625mm (maybe the sex, charm or luxury was added afterwards). [see comment June 26, below, about prior sales data in Property Shark]
 
Open House Sunday 12 - 2
 
© Sandy Mattingly 2007
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Feb. 28, 2007 - smaller but still One Bed Wonder-full at 644 Broadway + 30 W 13

 
In an Upper East Side condo, 1,600 or 1,400 sq ft would be a 3 bedroom. In the Village or NoHo, that’s a One Bed Wonder loft.
 
30 W 13 St #2B is a smaller version of the Long-and-Narrow classic Manhattan loft layout that I highlighted yesterday at 716 Broadway and 32 Laight Street (really big One Bed Wonders with really big prices at 716 Broadway + 32 Laight), but this one has the “back” windows on the side in the back, the only space for a bedroom in this 1,600 sq ft loft.
 
There is a funny-shaped office (with no window) that leads to the washer-dryer, but there really is nowhere in this beautiful loft to add a second bedroom.
 
A “serious seller” lives here, but will sell for about a thousand bucks a foot -- $1.65mm.
 
Open House Sunday 12 – 2.
 
644 Broadway #4E is a funny-shaped loft with a master bedroom with only one window and no place to add a second (without a shoe horn). But it is 1,400 sq ft and has a home office (no window there), a nearly square corner living room and room for a second bathroom.
 
At 1,400 sq ft and an asking price of $1.795mm, this one carries a heftier price tag, presumably because it has been “tastefully renovated”.
 
© Sandy Mattingly 2007
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Feb. 27, 2007 - really big One Bed Wonders with really big prices at 716 Broadway + 32 Laight

 
One type of One Bed Wonder (what is a One Bed Wonder?) among Manhattan loft styles is dictated by the footprint and window placement. With no windows along a “long” side, the Long-and-Narrow lofts might only have one legal bedroom (in some cases – with windows on only one “narrow” side -- no legal bedrooms). Here is one of each.
 
At 25 ft wide but 2,600 sq ft overall, 716 Broadway 2d floor takes the classic loft layout Long-and-Narrow to extreme lengths. With windows only at the narrow ends, this is one loooong One Bed Wonder.
 
Interesting that the PruDE listing system allows an override for the normal field for (number of) “Bedrooms: “, as the listing reveals “rooms: 6” and “Bathrooms: 2.5”, but says nothing about number of bedrooms. At the moment there is only the one, a 25 ft wide master, though that width (and 2 windows and a door to the terrace) certainly should permit a second real BR being added.
 
But until then, this is a pretty darn big One Bed Wonder, asking $2.65mm.
 
The Long-and-Narrow 32 Laight St 4th floor goes 716 Broadway one better as a One Bed Wonder: the master bedroom here has no windows, because the four windows are only on the front of the loft, on the east wall, away at the end of the 59 ft living room. Sounds as though there is a pretty cool “private dressing closet” behind the master bedroom, but there’s still only one bedroom – and a dark one at that.
 
With 2,454 sq ft, this is another big one. (Check out the LR-facing-windows picture for a sense of what an empty Long-and-Narrow loft can look like.) Asking $2.35mm.
 
Open House Sunday 1 – 3.
 
© Sandy Mattingly 2007
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Feb. 24, 2007 - what is a 1 bed wonder?

 
large lofts suitable for one person or a couple
 
I remember talking to people last year (and the year before that) about a spectacularly beautiful 2,000 sq ft loft, with very high-end finishes and a truly “Zen-like” renovation. Aside from remembering how nerve-wracking it was to tour at an open house with their kids (“don’t touch anything!”), they easily remembered how beautiful and serene it was.
 
Then I asked if they noticed how few of the “walls” went all the way to the 12 ft ceiling. “Uhhh … no.”
 
This loft – which has been on and off the market for 2+ years – is a quintessential 1 Bed Wonder. Part of its (considerable) charm is that it feels so open, that it flows so well. Part of that charm is because the “walls” did not completely enclose the master bedroom, the guest room, and the library, all of which shared these walls with the open living area.
 
The original owners had great taste – and a house in the country for entertaining grandchildren overnight. It was simply not a space in which you would want someone else sleeping in a different bed. The present owners put it on the market as they were about to have a child. I have no idea how they live in that space with a child.
 
The “problem” with that specific space is that if you were to renovate it to make it suitable for a family, you would probably ruin its charm. It may live and die (and sell, or not sell) as a wonderful space in which everyone but the owners go somewhere else to sleep every night.
 
Other 1 Bed Wonders are more forgiving of renovation possibilities. Add some walls, expand a half bath into a full bath – or even more substantial renovations – would not necessarily reduce the beauty of the space.
 
There are lots of such spaces out there. I will collect a few here from time to time.
 
© Sandy Mattingly 2007
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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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