that was quick / 76 Laight St gut job at $850/ft in contract
Apt 3 at 76 Laight Street (at the corner of Washington St in northwest Tribeca) came to market on April 18, shrewdly marketed by Patty LaRocco at PruDE as “ready for a gut renovation”. At 2,350 sq ft offered for $1.995mm (maintenance only $1,400/mo), the price proved to be irresistible. Even though the inter-firm notes specified that “showings start May 1”, they accepted an offer last week and already have a signed contract.
Presumably, the buyers have seen the interior, but it sold without any interior photos on the web and only the most rudimentary floor plan. But it is said to have “original details”, barreled ceilings and a (totally cool, no doubt) manual elevator. Only one bathroom, but with a total gut job coming, I guess no one should care about that. Although “surrounded by windows” they seem only to be on the south and west (with an additional on the northeast corner), but it is hard to know about how much light.
This looks to be a coop with many long-term residents. The only sale on Property Shark was for Unit 1 last year, at $1.95mm (presumably, another gut job).
With all the nearby uber-lofts at uber-prices, this location could easily support a $500k renovation on top of any purchase price starting with a “1”. Looks like happy sellers, happy buyers.
[very late UPDATE: the 3rd floor loft closed on June 29, 2007 at $2.175mm, a $180,000 premium to ask and $925/ft. I have to guess that this was not a bidding war (remember: no showings until May 1) but someone asking "what do I need to pay to prevent you from showing it to anyone else?"
In fact, even that purchase price could support a major renovation project, as the 6th floor sale in October 2008 at $3.325mm shows. Granted, that floor has better light and views, but the vast bulk of the spread between the 6th floor and 3rd floor is the difference between a complete Studio Sofield renovation and a planned renovation.]
© Sandy Mattingly 2007
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