new contract, much space, untold story at 249 W 29
#2Eat 249 West 29 Street has been an intriguing Manhattan loftlisting since coming to market in May, but if you’ve waited to seeit you’ve lost it, as it is now in a committed relationship(“contract signed” as of yesterday).
strong on the space-moneycontinuum
Youwant space? “2,100 sq ft” and “1,750 sq ft” of outdoor space, lowon a price-per-foot basis at $1.695mm asking and $2,235/mo. Thelisting drops hints that some work may be required to fully realizethe value (outdoor space “can be converted” into agarden or entertaining space; loft has “charm andpotential”; the “glass wall dramaticallyseparating” the master bedroom from the living room may be morefarce or tragedy than drama for some).
Thespace is your classic Long-and-Narrow (narrow being 23.5 feet) withfour windows front and four back and all plumbing on one long wall.The outdoor space is on the second floor, so it may not exactly bebathed in light or have panoramic views.
Thearea around 29th Street and Eighth Avenue is probably at the top of the preferredneighborhood list for very few people, but for someone who wants alot of space for the money and some outdoor space, it isintriguing. (For one person, more than intriguing, butirresistible.)
8 million stories in the nakedcity
Ialways wonder about the Stuff that Happens to upset/change people’splans when I see a history like this one: the current sellersbought the place in December for $1.45mm (by then it had been onthe market over a year, starting at $1.825mm, ending at $1.625mm).Within six months they are (emotionally) out of here, andput it on the market.
Speculation is easy in the complete absence offacts, but it may be a change in job or finances, some tragedy thattears at the fabric of a family, or that they simply hate the spaceor the neighborhood. No reason they’d be telling, of course, but asix month turn-around from closing to selling is …curious.
Thefact that they hung tough at the asking price ($1.675mm) for fourmonths without a price change is more understandable when yourealize what they paid for it six months earlier ($1.425mm). Ifthey got close to ask, they will make some money evenafter two sets of closing and moving costs, but not a killing. Theyprobably do not recommend the experience to theirfriends.
©Sandy Mattingly 2007
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