chaos at The Hubert? 2 contracts go pffft at 7 Hubert St
Unit 3D at 7 Hubert Street has been on the market since last July (now at $2.5mm, started at $2.65mm; abated monthlies of $1,385) through Core Group and Unit 5D has been on only since October (now at $2.795mm, started at $2.895mm) with Halstead.
3D was listed as in contract as of March 6, but is back on the market today. 5D was listed as in contract February 26, but is also back on the market today.
It is pretty rare for condominium contracts to fall through, yet here we have two substantially identical units in the same building that had contracts fall through at the same time. Full moon, bad luck, or weird coincidence??
The Hubert was at the head of the new condo class in Tribeca when it was opened three years ago. With 16 floors and 33 large units, it is large enough to spread the costs of a doorman / concierge around, and it has a gym. The “D” line is the smallest in the building, at 1,787 sq ft, but with only 2 bedrooms, 11 foot ceilings and very tall windows it is certainly spacious.
I don’t see any public record of terribly recent sales in the building, but $1,500/ft is in line with the sale of (the much larger) #7A two years ago. The owner of #3D paid under $1.5mm in September 2004.
© Sandy Mattingly 2007
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