new Manhattan loft listings + closed sales + inventory in last 7 days

• there were 42 lofts reported as new to the market in the last 7 days and only 7 as sold
• 35 of the 42 new ones are offered below $3mm and 4 are over $6.999mm, while 5 of the 7 closed sales were under $3mm
  
• only 4 of the 42 new loft listings are in new development, and only 1 of the 7 closed sales was in new development
  
• [new data point; see below] there are 500 lofts reported as available for sale
  
  

   

  By price	New = 42	Sold = 7
  $500k to $999k	6	1
  $1mm to $1.99mm	15	2
  $2mm to $2.99mm	14	2
  $3mm to $3.99mm	1	1
  $4mm to $4.99mm	1
  $5mm+	5	1

  
  
  

   

  By neighborhood	New = 42	Sold = 7
  Battery Park City
  Chelsea	5
  Clinton		1
  East Village		1
  Financial District	3	1
  Flatiron	6	2
  Gramercy	2
  Greenwich Village	5
  Kips Bay	2
  Little Italy
  Lower East Side
  Murray Hill	1
  Midtown West
  SoHo	7
  Tribeca	7	1
  Turtle Bay	1
  Upper East Side	1
  Upper West Side	1
  West Village	1	1

  
  New loft listings in new developments

  45 John Street	3
  15 East 26 Street (15 Madison Sq No)	1

  
  Sold lofts in new developments

          

  40 Bond Street

  1

  
  For information about how I get this stuff and why I slice it as I do, see methodology for New + Sold in The Last Seven Days.
  
  The new data point this week is Loft Inventory. There are at least as many problems with this datum as with any of the numbers I track (see methodology post), but it may prove to be useful for trend-spotting. There are definitional problems (it is based on "lofts" described as such by agents when they enter listings in the inter-firm data system, but it is not clear if this results in too many lofts [with ‘loft-like’ apartments included] or too few lofts [with agents not bothering to check the right box]) and reporting problems (it is based on agents’ reporting of what is "available" [no doubt in my mind that some agents fail to update their listing status, so this is probably over-stated]). This week’s total of 500, while imperfect, should be imperfect in the same way over time, so may prove to be a useful bit of comparative information.
  

© Sandy Mattingly 2008