how much for bones? 12 E 12 is new

rare condo with bones, soars
Unit 5SE at 12 East 12 Street is new to market this past weekend (how did I miss that open house??), asking $1.825mm ($1,333/mo in taxes and common charges) for “1,500 sq ft” that “is waiting for your attention, love and care”, with “bones [that] include soaring ceilings, original maple wood floors and central air.” In other words, it is all about the renovation that you will do after you buy.
At roughly 30 x 50 feet, it is not quite a Long-and-Narrow, and it has one long-wall window for a master bedroom, to go along with three narrow-side south windows (and a balcony). There is plumbing on both long sides, so there is maximum floor plan flexibility there.
The listing photo ratio of four exterior pictures to two interior is consistent with this needing a great deal of attention, much love and a great deal of care. Even at $150/ft for an attentive, loving and careful renovation, the cost + build comes in at about $1,400/ft.
The last sale I see in the building was #2NW, “875 sq ft” that closed for $860k in March. Yes, #5SE is that rare Central village pre-war condo loft, but $1,400 per foot done is a hefty price.
© Sandy Mattingly 2007

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