OYAToMLG talking about post-Peak and square floor plans at 161 Hudson Street
well, yesterday, in fact
It has been quite a while since I’ve dipped into the archives for a One Year Ago Today on Manhattan Loft Guy post, but we will be out of town for the week by the time this one hits the inter-tubes, so I’ve planned a few OYAToMLGs in case, as I suspect, the charms of New Orleans for this first-time visitor will keep me off the keyboard as much as usual. This one is a cheat, as it was posted One Year Ago Yesterday on Manhattan Loft Guy, but please don’t complain, because you got a substantive (loft-y) post yesterday instead of a weekend diversion.
Last year on the day of Saint Patrick I was talking about prices post-Peak and a nearly ideal loft floor plan at 161 Hudson Street. In my March 17, 2012, 161 Hudson Street closes off 2.5% since (late) 2007, I noted that the front-end of a paired sale, 2007-and-again-in-2012, was in late November 2007, a scant 5 weeks before the calendar quarter in which the highest prices on record were recorded in the overall Manhattan residential real estate market (aka, The Peak). So the fact that the “2,317 sq ft” Manhattan loft #5B at 161 Hudson Street sold on March 5, 2012 only 2.5% below the near-Peak prior sale was interesting.
That post contains a tip of the hat to an all-time personal favorite post, the paired resale analysis begun in my September 27, 2011, is the Manhattan loft market back to (up to) 2007? 61 repeat sales say “probably”, “a bit”.
Not to give away the whole game, I also talked about how loft #5B has a nearly perfect loft footprint:
The “2,317 sq ft” footprint for the “B” line is close to ideal: nearly square, with a long run of windows east (master suite and living room) and north (living room and other bedrooms), with plumbing stacks separated enough to have 1.5 baths on the west wall behind the kitchen and a master bath (and nearby washer-dryer) on the south wall. With but 4 columns, the space can be configured many ways, in this array with the two additional bedrooms in the corner opposite the master.
In contrast, I noted a recent same-building comp, substantially alike in all ways but shape. I won’t spoil the punchline (go read the darn post!), but let’s just say that it is unusual for the same small loft building to have lofts with square footprints and lofts with classic Long-and-Narrow footprints. And that I put an absurdly precise value on the different shapes.
Enjoy the darn post. I should be drinking chicory coffee with a beignet right about now….
© Sandy Mattingly 2013