indispensable source tracks commercial upgrades on Murray Street

ch … ch … ch … changes (slowly, perhaps surely)
The go-to guy for hyper-local street level news in Tribeca, the intrepid Tribeca Citizen, this week has hit a few instances of the changing storefronts on Murray Street in southeast Tribeca. Good stuff, reflecting a slow shift away from the oh-so-gritty to a-bit-more-chic. There’s still grit, of course (I am looking at you, NY Dolls), but the trend is welcome.

Erik mentioned the new Indian restaurant coming to 45 Murray Street, the “social club” coming to
6 Murray Street, and (referenced in that social club post) the upgrade from Uncle Mike’s to the Cricketer’s Arms at 57 Murray Street. It is not new news by now, but the Manhattan Loft Guy fave Woodrow’s replaced Biddy Early’s this spring at 43 Murray Street.

The truncated Murray Street is still among the grittier streets of Tribeca, and has never commanded the sales price points of lofts in more prime Tribeca blocks. The Tribeca Citizen posts give me an excuse to summarize some sales activity and to run down Manhattan Loft Guy posts along the same stretch.

East of Greenwich Street,  71 Murray Street last two sales of huge lofts (“4,000 sq ft”) just below $1,000/ft, reflecting a market discount for non-prime Tribeca location; while the last sale at 69 Murray Street was at $824/ft (the next one will be much higher). I hit that $824/ft sale and other loft sales in those two buildings in 4 posts:

• December 29, 2011, why did The Market put the hate on 2nd floor loft at 69 Murray Street?
• October 19, 2011, why move to 4,000 sq ft 71 Murray Street loft from 44 Laight Street 4,000 sq ft loft?
• October 20, 2010, interesting price history of 71 Murray Street loft bought by Famous Couple (by the way, the Political Half of that Famous Couple is much in the news these days; something about a upcoming election…)
• August 30, 2007, new + understated at 69 Murray

East of West Broadway, 53 Murray Street has had recent sales at and above $1,140/ft; while at the new 47 Murray Street the high has been $1,135/ft, pretty modest even for a no-frills new condo in Tribeca; the last sale at 41 Murray Street hit $1,062/ft but that is before adjusting for a large private roof deck. (A very nuclear sale here made an appearance on the list of The 500 Club [downtown lofts noted in my Master List of Manhattan Lofts Sold Since November 2008 in the $500s per foot] in my October 17, 2011, least expensive Tribeca loft ($471/ft!!) is 5 flights up at 145 Chambers Street.)

East of Church Street, the 2006 new development Tribeca Space at 25 Murray Street had a tough start, with a bit of a rebound lately (7 sales this year from $899/ft to $1,050/ft); while the 3 sales last year at 9 Murray Street were in a similarly broad range of $866/ft to $1,096/ft. I hit sales at 9 Murray Street in my:

• October 18, 2011, view is worth (only) 3%, or $36/ft, at 9 Murray Street (approx).)
• May 25, 2011, 9 Murray Street loft sellers go ka-ching and move to non-loft loft at 4 West 21 Street
• August 6, 2008, 9 Murray Street #8W closes at just over $1,000/month / neighbor does faster (is higher better??)

There are no recent sales at 19-21 Murray Street, but I did hit an old one in my March 4, 2008, new at 19-21 Warren Street / 2 BRs 2 baths 2d floor – it’s long.

© Sandy Mattingly 2012