149 Franklin contract / from Halloween to Christmas

buyers still buying
The 3^rd floor at 149 Franklin Street is yet another one of those lovely lofts that I never got around to blogging about while it was live, so I will have to note it as it went into contract within 8 weeks of coming to market.

Asking $3.85mm and $1,933/mo (deductible? see below) for “3,150 sq ft” it is said to be “absolutely splendid” with high ceilings and “glorious” light. This is prime Tribeca, between Varick and Hudson. This is a wonderfully classic loft, with nearly 13 foot ceilings, original beams and wood columns. At $1,200+/ft in a no doorman-no-amenities small loft building, this is what Tribeca costs.

peculiar layout with challenges + opportunities
The layout just screams 2 combined units that are not very combined, with 2 kitchens that are too far apart to be kosher and only 2 points at which one can go from one ‘side’ to the ‘other’ (doorways, not integrated spaces). I assume a buyer will take on the challenge of integrating this large space. It is actually a terrifically flexible footprint, not quite square, with long runs of windows on the two longest sides.

Cool space. (What is the highly reflective floor material??)

The maintenance is low, at about $0.60 per foot and there is “a large amount” of income from the ground floor space. There’s no indication in the listing whether the maintenance is deductible, so it may not be.

Cool space, indeed. Large space. Only 3 interior photos (none of kitchens or baths), so it is hard to get a visual sense of the interior. I bet the buyer puts a ton of money into it.

© Sandy Mattingly 2007