Two Years Ago Today on Manhattan Loft Guy, and 4 and 7
You were warned in my July 4 post that you’ve got a couple of weeks of archived Manhattan Loft Guy material coming up. Don’t get spoiled, but I have a trio from the archives today, one better than yesterday’s two-fer. In my July 11, 2011, victim of 2009 chill, 395 Broadway loft sells quickly at premium, I looked at a 2011 sale in relation to 2009, while in my July 11, 2009, 50 Warren Street closes, off 45% from original ask + 14% off 2005 price, I looked at one of the few 2009 sales as the product of the nuclear winter and in relation to 2005. I like these as real-time in-context attempts to deal with asking prices and past sales of individual Manhattan lofts.
But I could not leave out my July 11, 2006, Now you see it (and pay for it), now you don’t / what are views worth?, which is one of my very early attempts to talk about difficult-to-value property elements. One day I hit outdoor space, the next views.
Following nicely on my post yesterday about the values of Manhattan apartment outdoor space, The Real Deal segues with a piece about vanishing views and view values. Clearly, views matter, and command a premium. Equally – this being a dynamic market
in a dynamic city — nearly all views are provisional.
The article talks about a (non)buyer on the seventh floor at 21 East 22 Street with (that day) “city views” and a partial view of Madison Square Park, whose feet got cold when plans were discovered to build a 40-story residence at 20 East 23 Street.
It seems as though in those days there was a fellow named Trump involved in Manhattan real estate; I wonder what happened to him….
© Sandy Mattingly 2013