165 Hudson Street loft celebrates birthday with a sale

a happy closing more than a happy birthday
When the Manhattan loft #2B at 165 Hudson Street closed on January 20 for $995,000 it had just ‘celebrated’ one of those awkward anniversaries for a residential sale listing, in Manhattan or anywhere: it had come to market on January 15, 2010. But at least that birthday passed with a contract in hand, and a closing imminent.

Getting there was not fun, even if you get to blow out a candle:

fitting into a T
This “1,200 sq ft” space has an unusual shape for a classic loft: almost a “T”, with the windows on the cross-piece along with 2 bedrooms and the living area, and the bath and kitchen lined up at the long-end, near the entrance. The single column might look a little lonely, but is joined by other classic loft elements (12 foot ceilings, exposed brick, “enormous” windows). This is a relatively old coop conversion (1980), and the babble suggests that #2B may not have been renovated in quite a while (“tremendous possibilities”; the kitchen cabinets are either quite dated, or just rather personal).

history is no guide
This building has only 15 units, none other of which has changed hands since 2006. In those days, the slightly larger #5A (“1,350 sq ft”) cleared at $1.38mm without much bragging about condition (August 3, 2006) and #3A (“1,400 sq ft”) cleared at $1.287mm in “mint” condition (May 5, 2006). These sales were about 6 quarters from The Peak, and evidently gave the #2B seller the idea that asking around $1.3mm could work.

It didn’t work. Those prices on a $/ft basis are a long way from #2B clearing last month at $829/ft. Granted, the two “A” lofts were in better condition than #2B and enjoy two exposures, but one of those exposures is over Hudson Street facing the Holland Tunnel spillway. Those enormous #2B windows, in contrast, face the (relatively) more quite Laight Street

fun fact
I love the building description for 165 Hudson Street on StreetEasy. It is pithy and (apparently) old. When might this have been written: “prewar loft conversion in the fast developing residential neighborhood, Tribeca”?

© Sandy Mattingly 2011