Year: 2009

loft developer in default at 654 Broadway

crunched by numbersNot a pretty story reported in The Real Deal (last Friday, on line) about a Manhattan loft developer default, CIT Group sues for $12M at Noho condo site. I don’t have a lot of any experience running numbers

Posted in loft neighborhoods noho Tagged with: , , , , ,

nice price at 40 West 24 Street? (consider the renovation)

Stage One reviewWhen I saw that the "2,000 sq ft" Manhattan loft #9E at 40 West 20 Street closed on September 2 for $1.64mm and that the "2,000 sq ft" #8N closed for $1.7mm on January 30, 2008 I was

Posted in loft neighborhoods chelsea Tagged with: , ,

8 years, still fresh

  quote of the dayRudy Giuliani, whom I loathe, read this morning from Rev. Dr. Martin Luther King, Jr., whom I revere. Let’s just say that Rudy made a nice choice: “Everybody can be great,” he said, “because anybody can

Posted in new york new york new york Tagged with: , , ,

do any of you people know how to pray?

today would be a good dayNo real estate news from Manhattan Loft Guy today, but a most personal request. If you are the praying type, please offer some today for me and for Susan Smelin. We will be at Columbia

Posted in caution no real estate content Tagged with: , , ,

new loft price needs to be justified

asking 20% more for 2006 mints??When I first saw the listing description for a Manhattan loft brand new to market (chock full of mints, renovation news, adverbs and adjectives) I assumed that it is priced almost 20% above the 2006

Posted in renovation opportunities and rew Tagged with: , , ,

876 Broadway comes + goes QUICKLY / knowing what you can get, and getting all of it

if you blinked, you missed itThe Manhattan loft on the 3rd floor of 876 Broadway hit the Market on April 26, hard, at $1.995mm. So hard, in fact, that they were in contract five weeks later 2.3% off the ask.

Posted in loft neighborhoods flatiron Tagged with: , , , , , , , , ,

(bad) quote of the day / lawyer stumbles in NYT real estate Q&A

was the nuance edited out?The Sunday Real Estate section of the New York Times regular feature by Jay Romano, Real Estate Q&A last week posed a complex question and provided an overly simple answer from a lawyer who represents the

Posted in manhattan real estate business Tagged with: , , , , , , , ,

quote for the day / NYT The Hunt

  who is out of touch now?The Sunday Real Estate section of the New York Times regular feature by Joyce Cohen, The Hunt, today profiles a woman who seems to have spent much of the last 18 months looking for

Posted in psychology of the market Tagged with: , , , , , , ,

modesty rewarded, but 'how well?' remains the question

sometimes Manhattan Loft Guy gets it rightI posed a question on July 8 that was answered very quickly: will pricing 25% below 2007 hit The Market in a sweet spot?  The answer came in an update on StreetEasy the very

Posted in pricing analysis Tagged with: , , , , ,

one less funny person at The Porter House

… unless the buyer is a clown?I checked in at 66 Ninth Avenue (The Porter House) on August 16 (Porter House loft may be "beyond the beyond" but sells off a million, up 40% or down 25%) to tell a

Posted in market trends Tagged with: , , , , , , , ,