a run on turtles / NY Post also discovers Turtle Bay lofts
like a Time & Newsweek cover coincidence, almost
In addition to Sunday’s NY Times ‘On The Market’ that featured #15M at 319 E 46 St, which I mentioned yesterday (real loft discovered in Turtle Bay / NY Times features small loft in funny place). Saturday’s NY Post included a small loft in the same building in the ‘Just Sold’ feature.
Another problem counting Days on Market
#9H was sold by Corcoran‘s Howard Spiegelman for $925k off an asking price of $949k, but it really took much longer than the 49 days reported by the Post. The inter-firm database shows that #9H was offered for sale in January for $1.075m then reduced in price to $999k in March, then to $949k on June 3. The contract was signed on June 16 and finally closed on September 18.
This illustrates the difficulties on getting useful data for Days on Market, which I have commented on before. The contract was signed “only” 2 weeks after the last price reduction and closed 16 weeks after that price reduction. But it was on the market for about 20 weeks before final contract and more than 30 weeks until closing. Looking at this history, I don’t see any way to count and get 7 weeks.
Anyway, this unit is said to be 1,433 sq ft with maintenance of “only” $1,700/mo (why is #15M’s so high??). It included a “standing tanning bed” in the master bedroom.
Spiegelman – like Gina Kuhlenkamp — makes a living off this building. He’s the guy who had five open houses there on Sunday. His listing said “this one will not last” which turned out to be a bit of a stretch.
© Sandy Mattingly 2006
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