Five Years Ago Today on Manhattan Loft Guy
You were warned in my July 4 post that you had a couple of weeks of archived Manhattan Loft Guy material coming up; almost up. In my July 15, 2008, 130 West 17 Street #9S went for it + got it, I considered a loft that was very aggressively priced that succeeded in selling despite, in my view, no rational basis for the asking or clearing prices. What I did not know 5 years ago was that this was a very Peak-y sale (March contract, June closing, so it was just past The Peak, in retrospect), but I had been on this listing for some time: back when I would comment on active listings I called this a Going For It! listing (“As in similar Going For It! posts, I was intrigued by an asking price that I could not find justification for in any traditional analysis — nearby comps, past sales in the same building, particularly”).
Of course, what I did not know then was that The Peak had passed, and that Lehman was about to pull the last bit of underpinning out of the market. That’s what happens when you take snapshots.
© Sandy Mattingly 2013