NY Post does a Just Sold at 395 Broadway

another pair of siblings
Following up on the #3A / #3C paid at 16 Hudson Street, the NY Post today provides the opportunity to look at #6C and #13E at 395 Broadway.

I did a post on November 21 about the new contract for Unit 13E (in less than 2 weeks off an ask of $1.475mm) (up + up for 13th floor at 395 Broadway, with quick contract), in which I mentioned an earlier unit in contract in that building (#6C). That unit was just featured in the NY Post Just Sold column today as sold and closed:

TRIBECA $1,375,000
395 Broadway
One-bedroom, two-bath loft condo, 1,200 square feet, with 12-foot ceilings, open kitchen, raised home office with storage underneath, dining area with built-in shelves and wraparound sideboard, new hardwood floors, sliding doors and washer/dryer. Common charges $550, taxes $653. Asking price $1,375,000, on market five weeks. Brokers: Ari Harko, Halstead Property, and Brown Harris Stevens

good guess on 6C
I hit #6C when it went into contract (Sept 14:
in contract at 395 Broadway / noisy edge of Tribeca). I am pleased to see that I guessed right ten weeks ago about where #6C would close in relation to the $1.375mm asking price:

I imagine they got close to the asking price of $1.375mm, which would be $1,145/ft for a Tribeca condo with no amenities other than a common roof deck (and no doorman). The last sale in the building was #15C (same size, obviously, with a “designer kitchen” but only 1 bathroom and configured as an open loft) for $1.295mm in April (ask had been $1.395mm). #14A also sold in April, also with “1,200 sq ft”, but that one needed a gut renovation; traded at $1.165mm off an ask of $1.195mm

Indeed, they got exactly the asking price of $1.375mm for #6C, which was a pretty good price under my analysis in September. And it only took from July 25 to the contract on September 13, with the closing on November 16.

plus factors for #13E remain
I still think that #13E is likely to have gotten more (in two weeks on the market) than #6C did (in five weeks on the market), though each is said to be “1,200 sq ft”. As I said in that November 21 post:

If, as appears, #13E will close at about $100k more than #6C at about the same time, the difference is likely to be (a) more light (3 exposures vs. 1 exposure), (b) more expansive city views (13th floor = about 80 feet higher than 6th floor), and (c) (probably) that “sleek” kitchen.

The hard part will be paying enough attention to note when #13E closes to confirm the clearing price.

© Sandy Mattingly 2007

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