107 W 25 goes over ask / back story to NY Times item

Yes, it took 13 weeks for Unit 4C to close, but only 9 days (from July 21 to July 30) to get the accepted offer that later closed in October. Pretty darn quick.

love the turn-of-last-century details
The Corcoran listing shows “turn-of-last-century details” (nice locution, that) such as tin ceilings and exposed piping and describes the loft as newly renovated. The “1,300 sq ft” layout is essentially Long-and-Narrow, at 20 feet wide, with the significant benefit of 2 long-side (east) windows. Those windows are significant because this 6-story 100 year old building sits on the bursting-with-30-story-towers 6^th Avenue corridor.

towering neighbors
Chelsea Stratus is the brand new 38-story condo across 25th Street from 107 West 25 Street, while the 33-story rental tower 757 Sixth Avenue wraps nearly around 107. That rental tower eliminates any ‘views’ to the north, but the low commercial base of 757 6^th at the 25^th Street end of that building is low enough to preserve some eastern views and light. Lucky for these 4^th floor owners, though the even more brand new 36-story rental tower across the street at 756 6^th Avenue (site of the former parking lot / flea market) severely shortens those “open city views”.

107 West 25 Street has been one of those small no-doorman-no-amenities-but-roof-deck Chelsea loft buildings that has had relatively strong values in this micro-nabe, despite being in the center of the (now depleted) flea market district.

Unit 2B sold a year ago at $1.605mm for “1,475 sq ft” and a terrace (the terrace must be in the shadow of 677 6^th Av); unit 5E closed in October 2006 at $970k for “965 sq ft”.

trading views for towers = ‘progress’
But that is how this micro-nabe is changing. The gaggle of 30+ story towers from 23^rd Street to 29^th Street brings more services, more restaurants, more people. Values increase. That’s life in the big city.

© Sandy Mattingly 2008