Corcoran nuggets: Manhattan loft market tracks overall, bigger does better

small nugget, that
The third big firm quarterly market report, from Corcoran (pdf, here), is like Halstead’s in that it has little loft-specific information. (I hit Halstead’s dribs and drabs on January 7; there was more meat on The Miller’s bones, hit on January 8.) Corcoran’s loft-specific information is limited to average and median sales prices and average price per foot for 4 sizes of lofts, on only a year-over-year comparison. The data for the loft segment (on p5 of 13) and the overall Manhattan market (on p4 of 13) are essentially parallel (expressed as percent increase 4th quarter of 2008 over 2007):
 

Worthwhile information — to learn that the loft market behaved in sync with the general market (at least as far as prices) — but not much

news

here. Darned little to actually chew on….

chew on larger lofts

I

can

chew on the size-specific Manhattan loft data from Corcoran, but without much other context to relate it to the overall market data. All measures of average and median loft price gains (on p5 of 13) were in the two larger loft segments (2,000-2,500 sq ft and 2,500+ sq ft), while the smaller size segments (1,000-1,500 sq ft and 1,500-2,000 sq ft) prices were flat or down slightly.

There’s just no way to find a direct larger market comparison for this loft data by size because there is little other data presented a on price per foot, or this kind of size segmentation. The closest thing is the table showing that in the overall market, median price changes year over year (on p4 of 13) reflect a similar overall trend (though at different levels than for lofts, on p5 of 13):

compared to changes in loft median prices, by size loft:

Meh

.

© Sandy Mattingly 2009