the best comps are close in time, size and location, with few adjustmentsApparently The Market thinks that the difference between “1,100 sq ft” of “great bones” and “1,100 sq ft” of “meticulous renovation” and “superb craftsmanship” is $92,500 in Tribeca.…
Tag: Rational
why did 48 Great Jones Street 1-bedroom loft sell 18% above Peak value?
“masterful renovation” does not explainThe story line for the recent sale of the “2,564 sq ft” Manhattan loft #6R at 48 Great Jones Street seems pretty obvious from the broker babble and the price history. The loft has been “[m]asterfully…
Tagged with: Bond, Comps, Efficient, Field Of Dreams, Great Jones, Micronabe, Neighbor, Peak, Rational, Renovation
keeping quiet about resale of 124 West 24 Street loft at 20% over 2007
at the mercy of the bureaucratsBecause the “1,097 sq ft” Manhattan loft #3A at 124 West 24 Street (124W24; ugh!) sold on December 28, it is not new; but the deed was not filed until March 5 so it is…
Tagged with: Comps, Convertible, Efficient, Neighbor, New Development, Peak, Rational, Sponsor, Streeteasy, West 24
how did $25,000 price drop do the trick for loft at 263 Ninth Avenue?
my fickle mistressIf there is one thing that I hope that regular readers of Manhattan Loft Guy have gotten from their reading is that “The Market” captures macro trends while the market value of individual properties are determined by individual…
8 months to contract at 6.5% discount for 151 West 17 Street loft
did Conventional Wisdom takes another shot to the head, or did CW slip the punch?You know the Conventional Wisdom about asking prices and time: that a listing professionally exposed to The Market for enough time without having selling is at…
Tagged with: Campiello, Comps, Conventional Wisdom, Floor Plan, Layout, Light, Neighbor, Rational, Views, West 17
130 West 17 Street loft flies through market, beating (my) expectations
… and sometimes the bear gets youHave I mentioned recently that comping is hard? Or that (prospective) valuations are matters of opinion? (As are, in fact, sale prices, but at least with those you have two people agree.) When my…
loft lab at 161 Hudson Street, as loft takes 5 months to make a quick sale
up 43% since 2004Yesterday was pricing at 2004 (January 10, 150 Nassau Street mini-loft sells at about 2004 pricing); today is about the sale of the “2,117 sq ft” Manhattan loft #3C at 161 Hudson Street at $2,323,150, which (among…
150 Nassau Street mini-loft sells at about 2004 pricing
off 14% from 2007, 9% from 2005You know that I love to talk about where a recent loft sale fits on the calendar, meaning whether a recent loft sale was at par with a past resale in, for example, 2007.…
Chelsea House loft at 130 West 19 Street bounces back from nuclear winter sale
when up-up is more like down-upThe two times the Manhattan loft #7A at 130 West 19 Street (the Chelsea House) has resold, both sales have been arithmetically positive, which has certainly not been the case for all resales at this…
Tagged with: Chelsea House, Comps, Neighbor, Nuclear Winter, Peak, Rational, Rent V Buy, Resale, West 19
over-optimistic loft seller at 124 West 24 Street still beats 2007 buy
if buy low, easier to sell high (d’oh!)The 20-unit Manhattan 2007 loft condominium conversion at 124 West 24 Street is an interesting laboratory for observing the behavior of rats buyers over time. The most recent data point is the October…
Tagged with: Comps, Light, Neighbor, New Development, Nuclear Winter, Peak, Rational, Resale, Sponsor, West 24
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