revisiting Manhattan lofts memory lane: MLG on January 3, 2008 + 151 Hudson Street from 27 years ago + a modern update

serendipity is a wonderful thing
I no longer recall what I was searching for in the Manhattan Loft Guy archives last week (or whether I even found it!), but I did come across this nugget from January 3, 2008, tales of Olde Tribeca / 1980s nastiness at 151 Hudson Street. Fortunately, my note to post it again the next time a January 3 pops up did not (yet) have time to get buried under other Ideas & Good Intentions. Enjoy a taste of life back in the day.

the tale continues, with new condo with old residents
Since that post three years ago, a new condominium has been formed (Condo Declaration from ACRIS is here) with sales of the 8 residential units and the commercial unit on April 8 last year. Reading between the lines of the widely divergent sales prices (they range from $55/ft to $848/ft, with most between $246/ft to $340/ft) and the fact that they were not then offered for sale by the sponsor generally, all buyers were insiders, and some were more inside than others. I suspect there is a relationship between purchase prices and contributions to the LLC that bought the building in 2003 and that sponsored the condominium.

The two third floor lofts have been publicly offered for sale, one during the conversion process, and one after, but neither sold to an outsider. Both #3E and #3W were offered at $1.295mm; #3E from February 2009 until May 2010, and #3W from July 2010 into November. The #3W owner must be a much bigger part of the LLC / sponsor than the #3E owner, as the April 8, 2010 original sponsor prices were $281,909 for #3W and $1,195,000 for #3E.

I saw both these units when they were offered publicly. Let’s just say that they are both … fairly primitive and that the windows need upgrading, especially the #3E windows over the Holland Tunnel spillways. Property Shark shows building permits filed in the last few months for both 3 #3E and a 5th floor loft, so perhaps #3E will come back to market soon, more ready for its close-up.

© Sandy Mattingly 2011