2006 + 30% = 2009? (or not)

pushy, pushy
Having visited both 2006 and Franklin Street in Tribeca on Wednesday (Aug 5, 155 Franklin Street crashes past 2006 to close up 28% (since 2000)), a Manhattan loft that sold more than 3 years ago around $850/ft caught my eye. It is in prime loft-ville, just down from my (dearly departed) long-time favorite Tribeca bar. Back then, it had bells whistles, mints, custom-this and marble-that, yet it took a year to sell in those heady days. Now that we are less heady, the 2006 buyers want to be 2009 sellers, although they have priced at nearly $1,100/ft so maybe they don’t really want to be 2009 sellers….

It is one of those layouts that is perfect for however many people can share one bed (though there are two full baths). While I can’t be certain from the old and new listings, it seems as though the unit is in the same minty condition that it was in 3 years ago, rather than having been re-renovated since. These folks are betting that The Market is presently well above 2006. That is a tough bet, as indicated by the history of #3S at 155 Franklin Street (down 16% since 2006).

Wonder if they will hedge….