memory lane: real-time reporting on changes in The Market for Manhattan lofts
Three Years Ago Today on Manhattan Loft Guy
You were warned in my July 4 post that you’ve got a couple of weeks of archived Manhattan loft Guy material coming up. In my July 8, 2010, another sign that 2010 is not 2009, as 60 West 15 Street loft sells, I looked at one Manhattan loft sale as a snapshot indicating how far The Market had come from the nuclear winter (becoming the thaw) of 2009, one year later. As I have often done in looking at 2013 successful sales of lofts that did not sell in 2012 or 2011, this post looked at a non-sale in 2009 and a closing in 2010.
The money quote:
[the loft] had been on the market last year, from April to November, asking $3.5mm, proving that that was the wrong price in that market. When they brought it back this year (January 22) and found a contract within 7 weeks (March 11), they proved they had found the right price, right? Right, indeed, but the successful 2010 asking price was the same $3.5mm as the unsuccessful 2009 asking price, and it was pretty successful, indeed, as it generated a deal at $3.45mm, a mere 1.4% discount.
I even referred to another real-time market assessment
Yesterday’s post, 12 examples of the (rapid) velocity of the Manhattan loft market, provided data confirmation that the velocity of the Manhattan loft market was pretty high, at least for the last three months.
From the front lines, in retrospect, and from Chile, in advance, Manhattan Loft Guy.
© Sandy Mattingly 2013