Month: June 2009

The Memo was delayed? / flipper now under year-old price

  progress, but enough?? I blogged about a Manhattan penthouse loft way back when (when I was posting about current listings) that ended up selling last year pretty close to the ask, which surprised me a bit. (I restored the

Posted in market trends Tagged with: ,

what a difference a year (and a view) makes, as 161 Grand Street closes

then v. now, spectacular v. move-in, view v. not-so-muchThe Manhattan loft #4B at 161 Grand Street closed last week for $1.71mm after a relatively brief (successful) campaign. This "1,831 sq ft" "beautiful and spacious" loft was marketed as being in

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

73 Worth Street closes by biting a very large bullet in one bite

did I say "large"?I wish I had a transcript for the negotiating that resulted in the June 12 closing of the Manhattan loft #4B at 73 Worth Street. The ‘simple’ facts are that it had been asking $3.2mm and the

Posted in loft neighborhoods tribeca Tagged with: , , ,

why would you do that? flipping (trying) at 25% over February 2009

head-scratching ensuesThere’s a Manhattan loft new to market in a building that has had a fair amount of activity in the past couple of years. One bit of that activity was this very same loft, selling in February for $1.73mm.

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“gotta sell” at 315 West 36 Street, so dropped 40% — and sold

seven figures of motivationThe Manhattan loft #12C at 315 West 36 Street was marketed with some urgency, some big price drops, and all caps (I have taken that annoying formatting off): "major price drop, must sell immediately!!!". Darned if they

Posted in loft neighborhoods west 30s Tagged with: , , , , , , ,

biting a big bullet in little pieces / 9 Murray closes off 40%

price of "canvass" has plummetedThe Manhattan loft 5SE at 9 Murray Street was presented to the market in August 2008 (just before Lehman) with grand ambitions and evident motivation: starting at $1.9mm on August 16, 2008; dropped to $1.8mm in

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

developer haircuts at 15 East 26 Street, 333 West 14 Street, 50 West 15 Street + 246 West 17 Street

taking the money and runningIn looking at recent loft sales, I came across these five cases (in four buildings) in which a Manhattan loft developer took a pretty good discount from the last asking price to close a deal. In

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power of a coop board to reject a deal as “too low”??

protecting shareholders from market value???The Real Deal on-line June 16 flagged an interesting little item in a relatively obscure periodical that is mostly read (if at all) by Manhattan coop and condo boards, Habitat Magazine. With a tip of the

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

'apartment' or 'loft' / sometimes you just have to laugh

still getting used to the new listing system, but smiling on occasionMy new mantra is if ‘change is good’, why is transition so hard? I offer that thought as a transition to this nugget in the Corcoran data-base that caught

Posted in what makes a loft a loft Tagged with: , , ,

“absolute showplace” at 113 Greene Street in Soho goes for $918/ft (absolutely)

adding value did not increase price (much)The Manhattan loft on the 4th floor of 113 Greene Street has sold twice in the last four years, in nice before-and-after fashion. Yes, "before" The Market changed (Lehman, AIG and all that other

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