new at 150 W 26 / one of the Merc's children
what the Chelsea Mercantile has wrought
I have long felt that the Manhattan loft market around 7th Avenue above 23rd Street took off because the Chelsea Mercantile was such a success and such a break-through. The Merc put this area on the mental map for loft buyers, many of whom came from uptown and would not have gone all the way downtown to SoHo or Tribeca when the Merc was being sold in 2000.
Which is along way to introduce Unit 803 at 150 West 26 Street, new to the market this weekend through Halstead’s Jon Phillips and Ginny Gardiner.
"1,853 sq ft" of "loft treasure … infused with comfort and style", offered for $2mm (common charges and real estate taxes are $1,668/mo). The category of prose that Curbed.com refers to as Broker Babble is a personal taste, of course, but I have always been a fan of the enthusiastic and specific way that Phillips and Gardiner present their lofts (though they usually have more pictures than one, and a floor plan; what’s up?). [update Aug 25: floor plan now up]
The three foot prints in the building range from "1,623 sq ft" to this one at "1,830 sq ft" and (I believe) two are at corners. Though there are many windows (so great flexibility in interior room options), there is not much to see out the windows until you get to the top floor(s) – the 9th floor front units have Empire state Building Views. This unit "looks" south (mid-block) and west, but there are two 12-story buildings just to the south.
The building was converted from rentals to condo in 2001 (the Merc was converted from a VA facility in 1999), with a pretty high-end, pretty basic set of fixtures and finishes. When new, the units were offered from $825k to $995k.
This one was last sold in June 2004 for $1.075mm. #901 (with those ESB views) sold in February for $1.63mm, its "1,623 sq ft" having been newly renovated. #302 sold in January for $1.65mm for its "1,753 sq ft". the highest price in the building to date was #602 ("1,753 sq ft"), which was designed by a "renowned" architect and a "world-class designer / artist owner" to generate the $1.9mm closing price in June 2005.
© Sandy Mattingly 2007
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