the limits of Infinity (Lofts) / 2007 new development trades 15+% off at 24 East 21 Street
even Infinity has limits
I hit 24 East 21 Street #5 at Infinity Lofts yesterday as one of a pair of Manhattan loft sales that featured a “pop-up” contract (one signed after a long period of being Off The Market; nice locution, no?); I will hit it again today because it is one of a pair of recent sales in that new development that have recently sold at a significant discount to the 2007 prices.
To the numbers:
24 East 21 Street #4
|Aug 21, 2007||sold||$4,862,143|
|July 31, 2009||new||$4.2mm|
|May 12, 2010||$4.295mm|
That July 2010 resale is 15.67% off the sponsor sales price nearly three years earlier.
|Aug 10, 2007||sold||$4,887,600|
|April 13, 2010||contract|
That July 2010 resale is 18.67% off the sponsor sales price nearly three years earlier.
Looks as though that 5th floor seller might have done better to formally come back on the market in the Spring, instead of privately negotiating with the eventual April contract buyer.
© Sandy Mattingly 2010