bringing (a lot of) cash to closing / news from the top of the market at “Madison Square North”

waiting to close, not for contract
I realized when I did my post of 30 days of actual loft sales on December 18 that 15 East 26 Street (15 Madison Square North) was a very successful new Manhattan loft development, with many contracts signed quickly in 2006, some of which are just closing now. Last week PH-B was reported as closed there off the $9.6mm asking price (dded was filed dated December 9 for the full asking price, typical of this building’s sales). While the contract was signed on November 21, 2006 (after 4 months on the market), it is now somewhat newsworthy when a big one like this actually closes.

In fact, when I confirmed some details about PH-B in our listings data-base I noticed that PH-D also closed recently (with a December 9 deed, for $5.8mm). That listing history is a little weird: offered at $5.5mm on February 14, 2007, we show an accepted offer off an asking price of $5.8mm on April 7 but no contract signed until November 21, 2007 (just a delay in reporting, most likely). Again, they got the full ask (apparently enhanced) here, as is true of all the 15 Madison Square North sales that i have noticed. This unit is "3,402 sq ft" plus a terrace, with only north views (from the 20th floor); #PH-B is "4,766 sq ft" with north, south and east views but no terrace (alas).


© Sandy Mattingly 2008  


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