100% reno + 24k gold = 27% over 2008 for 16 Hudson Street loft

over the top with some interesting limitations
The broker babble for the “1,550 sq ft” Manhattan loft #4B at 16 Hudson Street is just one step shy of babble-porn, with the claim of that it was “100% renovated” and a staggering list of proper proper names and materials, including at least one you don’t see every day. With 20 interior photos, and fully half the photos depicting the bathrooms or wet bar, that step into full porn is crossed. Here are some names and features:

original beams … Wide planks of solid oak … restored original windows with antique glass … Remote control blinds. 2 baths custom made by Sherle Wagner. … white onyx slabs and 24K gold fixtures, …multi function shower, soaking tub along with heated floors! … black onyx slabs and a Brown Tiger Eye counter … Sherle Wanger doors and closet hardwood …  Chef’s kitchen by Brun with custom one touch cabinets, Liebherr refrigerator & Wolf six burner stove, Miele double oven & dishwasher. A Portoro marble kitchen counter, bar counter and fireplace mantel t… alcohol burning fireplace! A 300 + bottle climate controlled Wine Closet, a wet bar with custom cabinets, & unbelievable majestic Swan fixture … integrated sound/entertainment/security system & multi zone speakers & central control module inside this Rosewood media center/closet

Two things you won’t find in this loft (other than restraint): a second bedroom, and much public volume. With that dining room table extending into the living room, there’s room for the seller to fit only 3 chairs in that “living room”, with the single couch relegated to the media room. And with bifold doors (high-end, no doubt, but still …) that “media room / guest bedroom” lacks the hard walls of a proper bedroom, or the space to put a closet or armoire.

The floor plan shows this “1,550 sq ft” space (easily big enough for 3+ bedrooms in a new condo) is a One Bed Wonder, designed within an inch of its life to maximize the utility for one person or couple to enjoy over night. The babble and the photos show a very … er … idiosyncratic combination of Upper East Side materials (white and black onyx, marble, and gold fixtures, Oh My!) and classic downtown loft elements (beams, columns, wide-plank flooring).

This guy could not have lived here longer than two years before deciding to sell. I wonder if his life changed, or if he got tired of living in a Trump’d up environment.

of course, he was looking for more
This recent seller bought the loft at near-Peak value, in not bad condition at all, with a floor plan that is nearly exactly the current floor plan. I wil get to timing and dollars in a minute, but here is part of the surviving broker babble from the “before 100% renovated” loft (sadly, no photos survive publicly):

entry hallway lined with book-filled built-ins leads to a spacious living room featuring exposed brick walls. Elegant arched French doors open to a large second bedroom. The stainless steel kitchen is the epitome of 21st century chic, with stone counter, tiled walls, and top of the line appliances.

Comparing the two floor plans, most of the major rooms and uses are where they were, with the walls (and french doors) coming down to open up the media room and office, and the new wet bar replacing the laundry room.

The old loft came to market just a tad late, and closed the day after a certain landmark event:

(I doubt very much that this coop loft went to contract as late as September 9, as StreetEasy has it.)

I hit that this loft so long ago that I was still doing current listings. In my February 21, 2008, new at 16 Hudson / once more into the breach (but higher), I said the loft then “looks to be a fairly high-end renovation”, with one curious idiosyncratic color choice (that epitome of 12st century chic kitchen featured green tile). The loft was in good enough shape that it (eventually) sold for more than the two prior sales, one of which was as close to Peak as Peak can be (loft #3A closed on March 5, 2008).

The renovation work after September 2008 could not have been short, despite the fact that little structural changes were made, as all that fine material must have taken a while to assemble and install. Having created this Versailles on Bogardus, the guy put it on the market before having enjoyed it very long, though he got to enjoy it for longer than he planned:

That’s nearly 11 months to contract and a clearing price only 15% off the first ask, 4% off the last ask, which took 8 months to generate a contract. This loft took a while to find the right buyer, obviously. Not too many downtown loft buyers are looking for (or willing to pay for) 24k bathroom fixtures.

I hope the seller was happy, and that the materials and workmanship did not cost too much.. He only got about $300/ft more than he paid for it.

inside babble / outside omission
If you look at the full Before babble you will see one brag-worthy item that did not merit a mention in the After condition sale: “magnificent views including the Met Life and Chrysler buildings”. Even a marketing campaign as focused on the interior as this one (again: 20 interior photos, 10 of which are bathroom or wet bar) can find room for mentioning “magnificent” views. Perhaps they were afraid the views would distract from the bathroom fixtures.

© Sandy Mattingly 2012