more BOM pain / 176 Broadway is back

2 failed contracts, 1 recently failed deal = f-r-u-s-t-r-a-t-i-o-n
#4D at 176 Broadway is another one that has been on and off the market due to ‘deals’ that have not happened (another one was yesterday’s bad luck? 241 W 23 St back on market – again). It came to market in January ($1.1mm for “1,800 sq ft”), dropped to $995k in March and had a contract signed in April and another in June – neither of which worked out. They reached a ‘deal’ July 3, but it came back to the market this week.
I touched on this one on a March open house review, open houses under $1,000/ft, where I said
Looks at courtyard but it is said to be “pin drop quiet”. My guess is that the price is a function of the lack of light and views, the need for a second bathroom (can be added; the stacks are there), and the probable need for updating the kitchen and baths (no pix, no bragging).
This building tends not to command high prices, especially if renovations are in order, but $611/ft is low, even by those standards. #15C, “sun-flooded” and with river views as it is, took seven months and three price drops to get into contract off an ask of $1.045mm and 1,600 sq ft.
It is still a ton of space for the money. Another opportunity to see it Sunday….
Open House Sunday 1 – 3
© Sandy Mattingly 2007
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