quick contract, long history of appreciation at 720 Greenwich

3+ weeks for contract at $1,350/ft
Unit 6D at 720 Greenwich Street came to market on October 1 with Paula Allen of Sothebys and it shows as In Contract this morning; with such a quick sale they are likely to be at or near the asking price of $1.35mm and $904/mo for a “1,000 sq ft architectural gem” with river views (out one of its two windows).

Interesting that the last time this Manhattan loft was for sale (3 years ago, exactly) it went to contract in only 17 days, at $885k. Presumably, the three mints in the current condition (“no detail forgotten”, stainless kitchen) were added in the last 3 years.

October is a good month to appreciate
Allen is making a living off this unit, as she represented the 2004 sale, as well as the one before that, which closed in October (good month for this unit) 2003 off an ask of $689k (I can’t see a closed price for that sale). That sale took 7 months to get to contract (then 8 to close), so they may not have gotten too close to that asking price in 2003.

mint added when?

Hmmmm … perhaps the three mints were added between October 2003 and October 2004, to account for about $200k in added value. Whenever the upgrade was done, it does not appear as though a building permit was filed.

Whenever that work was done, it contributed to a nearly 100% increase in value for this unit in four years. Gotta appreciate that!

© Sandy Mattingly 2007

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