memory lane: I don't think this anticipated market change (“end of uber-lofts?”) happened
Five Years Ago Today on Manhattan Loft Guy
You were warned in my July 4 post that you had a couple of weeks of archived Manhattan Loft Guy material coming up; almost up. In my July 17, 2007, end of uber-lofts? (uh … no), I snarked on a Real Deal article that was long on anecdote, short on actual, you know, facts. (A common theme for the intersection of Manhattan Loft Guy and the Real Estate Industrial Complex, Manhattan Media Division.)
Taking up the challenge, I offered my view that what was predicted would not come to pass, at least not in developments of classically sized lofts in classic loft neighborhoods:
I don’t think this approach will work in Tribeca, for two reasons. Acquisition costs are probably too high to do anything other than a new uber-loft, with bells and whistles to drown out an orchestra. Second, the TriBeCa loft buyer who wants “new” probably wants the bells and whistles. Carriage House Chelsea looks as though it may attract more first-time loft buyers (who else is buying a studio?).
Of course, what killed the uber-loft market after this post was the nuclear winter. That little seasonal thing being now ended, the uber-lofts are back!
© Sandy Mattingly 2013