weekend diversion WITH (some, slight) Manhattan real estate content
playing with $/ft numbers
This is probably sandbox level ‘analysis’, but I counted the distribution of Manhattan loft resales on a dollar per foot basis yesterday, provoked by a StreetEasy discussion thread. I don’t follow those threads closely enough to appreciate the dynamics between the regular contributors and I probably took too literally the apparent glee by the thread-starter about the prospect that the Manhattan residential real estate market might be heading to $550/ft values. I suspect that the thread was really a way for one or more SE regulars to poke, harass, or tease other SE regulars, (I may be missing something, having ‘greyed out’ 3 thread participants, but they long ago proved unworthy of attention).
My point is simply to say that, having been suckered into providing there some market facts, I might as well share them with Manhattan Loft Guy readers. Since I just finished my weekly update of the Master List of Manhattan Lofts Sold Since November 2008, I can report that there were 140 downtown loft resales with “sq ft” data going back to September 1, recorded as of today. The median value was $1,097/ft, which is probably roughly flat to 2010 (just like the overall performance in the 4Q11 market reports).
For what it is worth, the distribution is:
| $4xx/ft | 2 loft resales |
| $5xx/ft | 1 |
| $6xx/ft | 4 |
| $7xx/ft | 4 |
| $8xx/ft | 19 |
| $9xx/ft | 18 |
| $1,0xx/ft | 21 |
| $1,1xx/ft | 25 |
| $1,2xx/ft | 14 |
| $1,3xx/ft | 10 |
| $1,4xx/ft | 6 |
| $1,5xx/ft | 6 |
| $1,6xx/ft | 3 |
| $1,7xx/ft | 2 |
| $1,8xx/ft | 0 |
| $1,9xx/ft | 3 |
| $2,0xx/ft | 1 |
Stay warm, folks!
© Sandy Mattingly 2012
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