Month: February 2009

lipstick on a pig, or, buying an overdone ($1mm?) remodel

‘pig’ is a metaphor, of courseWhat if you bought a Manhattan loft with not much light and low ceilings, and put a ton of money into it — really jazzing it up in decidedly not neutral tones — then decided

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how much is that renovation in the window?

adding modest value, or too modest about the value added?There’s a Manhattan loft newly for sale that is asking about $1,300/ft and is described as newly renovated. The prose is rather muted for a renovation (the kitchen, for example, is

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2005 wasn't bad, was it?

  bet the UnderThere’s a good-sized Manhattan loft in a north Chelsea conversion from earlier this century that sold in August 2005 for $1.575mm. Because they thought that 2008 was not like 2005, they tried to sell about 20% above

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Manhattan loft inventory as of February 22 = 912

  Number of Manhattan lofts offered for sale as of Sunday night definitely continues to reflect a bulging inventory, though this week there is a dip:   price range # of lofts $500k to $999k 129 $1mm to $1.99mm 335 $2mm

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new Manhattan loft listings + closed sales in last 7 days

  This is the sixty-ninth Manhattan Loft Guy report on the number, price distribution and neighborhood distribution for Manhattan lofts reported as new to the market or as closed sales in the last 7 days.The stats as of Sunday night:

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what's wrong with these people? agents who speak out of their …

Manhattan Loft Guy truculence unleashed: cautionI toured some Manhattan loft open houses yesterday with buyers, and saw some interesting lofts. The "highlight" of the tour was a visit to a loft with a terrific skeleton — clearly a total gut renovation

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1981 to 2009: progress, or not so much?

plus ca change … When I moved into the American Thread Building in 1981 (the first great condo loft conversion in Tribeca?), I was in that (relatively) new Manhattan demographic, Young Urban Professionals, and we were "welcomed" into the building

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321 Greenwich closes at 5% premium over 2006 price

  Tribeca condo loft at $1,000/ft (again) I see that I am becoming somewhat fixated on the calendar — in how This Year’s Market compares to some prior year’s market conditions. I am probably not alone in that regard. Maybe this

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2007 = 2009? Soho sellers hope so

Soho loft sold in 2004 for $750/ft in 2004, then for $1,000/ft in a Manhattan heartbeat in 2007 (8 weeks from listing to closing; those were the days…) while in "triple mint" condition. It is hardly prime Soho (at least

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drip, drip … this data point points down from 2007 (way down)

not too pushy (now) but not selling (yet)There’s a Manhattan loft that’s been on the market nearly a year, with a sobering price history. It started this go-round in the Spring around $1,000/ft and has had four drops since then,

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