3 sales around the break-even point at Jade, 16 West 19 Street lofts

follow the bouncing pods
There have been 3 August sales of Manhattan lofts in that oh-so-stylish 2007 new development Jade at 16 West 19 Street, one just below the sponsor sale price and two just above. Caption the pod experiment as “almost holding its own, so far…”. Three lofts, 3 sizes, dancing (a very little) above and (rather more) below the original purchase:

#3B “881 sq ft” Aug 15, 2011 $880,000 Mar 13, 2008 $855,550 +2.86%
#11A “1,200 sq ft” Aug 5, 2011 $1,455,000 Sept 17, 2007 $1,425,550 +2.1%
#3A “460 sq ft” Aug 2, 2011 $520,000 Feb 1, 2008 $575,311 -9.61%

The prior two sales, both in May, had one close-to-original-but-not-quite sale, and one that got creamed worse than #3A:

#8B “653 sq ft” May 19, 2011 $720,000 June 28, 2007 $743,332 -3.14%
#7F “1,138 sq ft” May 6, 2011 $1,190,000 Dec 4, 2007 $1,360,000 -12.5%

For people who follow the building, it is interesting how each of the three August sales can be used to predict the likely clearing prices of similarly sized units in the building. (Note to self: watch the building to determine if that smug assertion is borne out.)

Are (two of) the August sales harbingers of a positive resale trend at Jade? Only time can tell….

into the Manhattan Loft Guy archives
I hit this as an “interesting” new development way back in my June 30, 2006, the newest new kitchen (in Flatiron, not Chelsea), with a little snark about boundary issues and a little positive commentary about the kitchen-as-pod concept:

Triple Mint nails the point about real Manhattan folk who will love these kitchens:

As much as big chef’s kitchens have become de rigeur status symbols in the marketing of New York lofts these days, the truth is that most Manhattan-ites eat out six nights a week. On the seventh night they use their kitchen to soften a pint of ice cream. Face it, the most important kitchen appliance really isn’t the stove–it’s the corkscrew. These pods are a kind of tacit admission that many people in New York end up living like global nomads. It’s the condo as glorified hotel suite.

© Sandy Mattingly 2011

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