Month: September 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

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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

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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

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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

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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

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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.

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(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

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