3,000 sq ft Manhattan loft renovated for $250,000

just for floors, kitchen + baths
I stumbled across a Wall Street Journal slide-show in the new trying-to-outdo-The-Times section this week, featuring a Tribeca loft of nearly 3,000 sq ft that had been renovated for $250,000. Of course Manhattan Loft Guy is interested in a loft renovation under $100/ft, but it turns out that the renovation project was pretty limited.

One hint is that they renovation was "month long". They put down a new floor, "enlarged" the kitchen (and re-built it, it seems), and "revamped the bathroom" (with two in the loft, did they touch the second??). With that fairly limited scope, $250k makes more sense for  a high-end job.

I am not going to out this active listing, but it isn’t hard for anyone really interested to track it down. I will say that these folks started with a very brag-worthy space when they bought it in 2005, so chances are that their $250k renovation job was pretty limited, indeed:

paging Nigel Tufnel
It happens all the time: somebody buys a loft that is "finished to the nines" but wants to take it to eleven. It will be interesting to see how The Market values the renovation, as these folks bought in at $775/ft (assuming it is "2,968 sq ft") in 2005, changed one lovely kitchen for one that is "state of the art" for another $84/ft, and are asking just under $1,200/ft. Given the 2005 condition, I suspect that The Market will not find that the renovation will add a significant (or even a discernable) premium.

© Sandy Mattingly 2010