developer haircuts at 15 East 26 Street, 333 West 14 Street, 50 West 15 Street + 246 West 17 Street

taking the money and running
In looking at recent loft sales, I came across these five cases (in four buildings) in which a Manhattan loft developer took a pretty good discount from the last asking price to close a deal. In one case*, it is the first closing in the building; in the others, these are close to the last. Just for fun, I have also included the original asking prices for these lofts.

 

  closed on cleared at  last ask original ask
15 East 26 Street #14C
15 Madison Square North
 
June 10 $1.45mm $1.75mm $1.8mm
333 West 14 Street* #5
The Prime
 
June 8 $2mm $2.65mm $3.275mm
50 West 15 Street #4E
The Oculus
 
June 2 $1.19mm $1.565mm same
246 West 17 Street #1B    June 9 $998k $1.295mm $1.45mm
246 West 17 Street #1C June 4 $1.35mm $1.995mm $2.225mm

That is a lot of clipping.

© Sandy Mattingly 2009

 

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