news flash / you can't always believe what you read / 27 No Moore NY Post edition
2 weeks plus for sale
Today’s NY Post reports the closed sale of a unit in the Ice House, 27 North Moore Street in the Residential Sales section. This section in the Post and the similar section in the NY Times (where was that today?) are probably an important source of information for real estate civilians about the trajectory of the market. (The Post report today is mixed: with sales that took one week, two weeks, 112 days, 32 weeks, 34 weeks and 35 weeks, but that’s another story.) When they say a unit sold in two weeks it makes you think the market is moving.
ain’t necessarily so
Here’s what they said today:
TRIBECA $3,925,000
27 N. Moore St.
Prewar three-bedroom, 21/2-bath loft condo, 2,300 square feet, with 11-foot barrel-vaulted ceilings, original columns, fireplace, maple floors, family room, kitchen with Asko, Viking and Sub-Zero appliances, marble bath with separate shower and double sinks, exposed brick and N/S/E exposures with city views; Ice House building is pet-friendly and features doorman, elevator operator, gym, garage, roof deck, laundry and storage. Common charges $1,202, taxes $1,093. Asking price $3,925,000, on market two weeks.
Broker: Danny Davis, Citi Habitats
But that is not quite what happened. This is #7C and it went into contract in in October after four weeks on the market, and finally closed five months later. (Made me wonder – what took so long?? – but it turns out the seller wanted an extended close.) But it was not Danny Davis at Citi-Habitats who had the listing, but the LaChance – Brown team at Corcoran. I wonder what they think about having their listing being claimed in the NY Post….
Of course this happens when the papers rely on agents to report “facts”. (See March 31: slippery sales data in NY Times at 80 Warren St.) Sometimes it is because different people define “days on market” differently (Nov 16, 2006: more Days on Market delirium / a flaky stat for individual sales (the 160 Bleecker example) and Oct 16, 2006: how many Days on the Market? no simple math in the Manhattan loft market). Sometimes I wonder if the selections of closed deals to highlight indicates an editorial choice (yikes they did it again / NY Times recent sales report suggests optimism?). But incorrect data bugs me, no matter the reason.
© Sandy Mattingly 2007
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