open houses under $1,000/ft : Manhattan Loft Guy

Manhattan Loft Guy

Feb. 28, 2007 - open houses under $1,000/ft

The most recent quarterly market report from Miller Samuel says that the average price-per-foot for Manhattan lofts sold in the last quarter was $1,090/ft – essentially unchanged from the prior quarter. With so many lofts offered at premium prices above $1,500/ft, there have to some lofts that are “below average” on price.

Four such lofts with Sunday open houses this week are not only below the average price per foot, they are under $1,000/ft.

176 Broadway #4D

1,800 sq ft for $1.1mm

Open House Sunday 2 – 4

Looks at courtyard but it is said to be “pin drop quiet”. My guess is that the price is a function of the lack of light and views, the need for a second bathroom (can be added; the stacks are there), and the probable need for updating the kitchen and baths (no pix, no bragging).

This building tends not to command high prices, especially if renovations are in order, but $611/ft is low, even by those standards. #15C, “sun-flooded” and with river views as it is, took seven months and three price drops to get into contract off an ask of $1.045mm and 1,600 sq ft.

258 Broadway #8E

1,320 sq ft for $1.28mm

Open House Sunday 12 - 1:30

But hurry; there is an accepted offer, after being on the market one month (pretty quick for a loft that could only be shown on Sundays).

718 Broadway #10C

1,400 sq ft for $1.25mm

Open House Sunday 11:30 – 1

With windows only on one end, it is a One Bed Wonder – though you could add additional no-window-“bedrooms” if you cared to break up the space

They are not bragging about any renovation, there are no photos of the kitchen or bath – the implication is that this baby needs some updating / renovation

241 W 36 St #6R

1,700 sq ft for $1.3mm

Open House Sunday 1:30 – 3

This is a brand-new listing for Peter Browne at Stribling, but Olshan was trying to sell it back in 2005 and again from July 2006 until this week. This is an example of values in the West 30s.

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View more entries tagged with: Miller Samuel, 176 Broadway, 258 Broadway, 718 Broadway, 241 W 36 St, Priceperfoot

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Feb. 28, 2007 - open houses under $1,000/ft

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