apparently, everyone wants to GansevoortLet’s take a step back from the hysteria momentum of the current market and the New York Times-induced hysteria and revisit those thrilling days of yesteryear; more precisely, that thrilling day yester year when One Year…
Tag: Risk
late original buyer at 415 Greenwich Street flips Tribeca Summit loft for fun and profit
nicely played, sir (& madam); nicely played For people with an ‘investment’ approach to Manhattan residential real estate, this is how it’s done: buy at $3.35mm, sell 14 months later at $4.085mm. Everyone would do that if they could,…
Tagged with: 2006, 2008, Comps, Flip, Greenwich, Neighbor, New Development, Risk, Sponsor, Tribeca Summit
73 Worth Street loft goes a little above ask, a lot above 2010 (of course)
doing the Buy Low, Sell High thing I never tire of these stories: a Manhattan loft with a past sales history that says interesting things about past market conditions, or buyers/sellers who achieve the real estate ideal of Buy…
cheating to talk about market conditions during nuclear winter, courage, and risk-bearing
my analysis from March 2009 holds up pretty well, I think I started another OYAToMLG draft for today to shorten my keyboard time from New Orleans, but in looking at it and the posts this week I realized I…
Tagged with: Archives, Courage, Fyatomlg, Nuclear Winter, Oyatomlg, Price Drop, Risk, Thaw, Timing, West 26
balcony problem a deal-beaker? or, another disappointing major media Manhattan real estate article?
or, is Manhattan Loft Guy just getting cranky?I was pleased to see that NY Magazine ran a recent S. Jhoanna Robledo on-line piece asking — among other things — "do buyers care [about the recent press about dangerous balconies]?". I…
Tagged with: Balcony, Department Of Buildings, Due Diligence, Insurance, Liability, Ny Magazine, Ny Times, Risk
courage punished, not rewarded, as 22 West 26 Street closes off 36% from first ask
4 price drops, 49 weeks, blood on the tracksThe Manhattan loft #7H at 22 West 26 Street closed on February 2 at $1.215mm after a rather long slog and a pointed slap from The Market: it was first offered…
risk, revisited / I am still a coward, but the 'brave' did not sell (yet)
checking back on the SpringI recently had a conversation with a former shareholder in one of the Manhattan loft buildings that I visited in my March 25 lengthy rumination, am I a coward? assessing + bearing risk in a risky…
Then vs. Now / Then wins, I think, even if this one is better
headwinds are strongI worked with someone last year who was sufficiently interested in a particular loft in a prime Manhattan loft area that we saw it three times. That one was an interesting mix (to be charitable) of primitive elements…
can an address provide enough oomph?
pricing like it’s 2008One of the risks of pricing a Manhattan loft above The Market, of course, is that no one will visit, let alone bid, because there are alternatives that start at lower-prices. (I discussed this most recently, in…
am I a coward? assessing + bearing risk in a risky world
a rumination (bear with me)I tell owners in this market that my job is to protect their equity and get them on their way (to whatever is next in their lives) with as much money in their pocket as possible.…
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