slippery sales data in NY Times at 80 Warren St

they do the best they can with what agents tell them, right?
Tomorrow’s NY Times (available today on-line and for home delivery subscribers) features a Tribeca loft in the Residential Sales Around The Region section. The data are … not so accurate.
A penthouse duplex at 80 Warren Street is said to have been on the market for 6 weeks at $1.95mm and sold for $1.9mm. Sounds like a cool unit, with a terrace and skylight, but the actual listing history is very different.
Our inter-firm data base shows that the penthouse was first offered for sale in July 2006 for $2.5mm, then dropped to $2.35mm in September and $1.95mm in October, before having a signed contract in late November.
Yes, that is six weeks after the last price change, but the sucker was on the market for nearly 20 weeks – a datum at least as relevant to a buyer as knowing it had been six weeks since the last price change.
cutting to the chase, cutting through the pain
Kudos to the owner and agent (James Attard at Tabak), by the way, for aggressively adjusting the price to get a sale. On the one hand, they ‘only’ got 76% of their original asking price. On the other hand, they got it sold. I think last Fall was a much tougher market for sellers than this Spring, but they couldn’t know that last fall.
Bottom line: don’t believe everything you read. (d’oh)
© Sandy Mattingly 2007
Tagged with: , , , ,

Leave a Reply