Flatiron condo at $1,000/ft / 12 West 18 Street is new

#6E at 12 West 18 Street is new to market today through Barbara Godson at Halstead, asking $1.795mm and $1,765/mo (condo) for “1,750 sq ft” of Long-and-Narrow with a “well planned kitchen” with top appliances and 2 renovated bathrooms, set up as 2 bedrooms and an office. Looks like a pretty good price for a condo loft in Flatiron….

issues, we got issues
This condo has not commanded a premium, with one sale last year near $1,100/ft (#9W at $1.909mm in April 2007 for “1,750 sq ft”) and two in 2006 bracketing 41,000/ft (#4E in August 2006, $1.835mm for “1,750 sq ft”, and #4W in July 2006, $1.625mm for “1,750 sq ft”). (Per the Miller Samuel Q4 report, the average price per foot for a Manhattan condo was $1,310.)

The floor plan and 2 photos may hint why this building has priced below the average condo. The 4 front windows in the living room look north over 18 Street; the master bedroom has 3 windows south (“looking” at an 11 story loft building built nearly at the property line) and 1 west window; the 2d bedroom has 2 west windows. Note the listing description of the bedroom as “pin drop quiet”. Note that this “E” [east] line has those west facing windows – apparently facing the “W” line across a (small?) airshaft. Note that the only 2 photos are of the front space only.

So don’t count on there being much light, other than in those front windows in the living room. (The listing headline says “full floor condo loft”, but there is a unit next door [#6W, which sold in December 2005 at $1.765mm], so this is “floor through” but not “full floor”.)

Space looks lovely. If you like the location and don’t need light, the price is in line with past sales.

Open House Sunday February 10 from 1:30 – 3:30 PM

© Sandy Mattingly 2008