OYATOMLG / 714 Broadway loft sale provoked on size, bidding wars, Peak values
a rich brew
It has been a while (yes, another Note To Self … reminder) since I have done any look-back posts, dipping into the Manhattan Loft Guy archives for posts that are one (OYATOMLG), two (TYATOMLG), or more years old (FYATOMLG?). My April 4, 2011, late bidding war for another forever loft, as 714 Broadway goes for $613/ft, or more, hit a loft sale with many interesting hooks:
(a) a bidding war after a very long sequence of marketing,
(b) the difficulties of figuring out how big a loft is if it has a mezzanine (in this case, “an upper level of perhaps 800 sq ft in a necklace of spaces in the center of the loft that weave around some full-height spaces”),
(c) the market milestones in that long history (just missing The Peak, suffering through the nuclear winter, coming back into The Thaw),
(d) a same building comp that shed some light on what Peak values were like in the building,
(e) a locution that I should probably use more often (a “do over” loft = a loft that might not be a need-to-gut, but that will likely to made over dramatically), and
(f) (finally!) another opportunity to refer to another post that is one of my personal favorites but that I have neglected re-linking to.
Indeed, I started that post:
The best single way to sum up the March 17 sale of the Manhattan loft on the 2nd floor at 714 Broadway is to say that it is rich in angles. Or that it will take many hands.
The post also touches on two record-keeping issues that sometimes give me pause when I add to the Master List of Manhattan Lofts Sold Since November 2008: loft size, as mentioned above, and days on market, as this loft started in April 2008 and sold in March 2010, with three periods of being off the market of 90+ days. Fun stuff!
That favorite post that I should link to more often is my November 14, 2010, the disappointed seller’s conundrum of ‘fight or flight?’, a rumination on the choices that sellers face when The Market does not do what they want it to.
Note To Self …
© Sandy Mattingly 2012