Tribeca

www.tabakistribeca.com

38 Warren St may be perfect for you.
Open House is on Sunday

There are always those who wait to see if prices will go down. In fact, the New York market place is based on supply and demand ONLY. We had a correction and leveling the last 18 months or so but look at what happened... things shot up again rather quickly and for good reason. If you are going to trade up in 3 years you are the perfect profile to buy now. Real Estate usually works on 3-5 year cycles and I don't know anyone who lost money in Manhattan real estate. I know of many great Tribeca apartments that would work now and show nice profits in the future.

I think this post was started by a real estate broker. responded by a RE broker, and then re responded by a RE broker.

I'm not a real estate broker and I agree with the third guy..

Yes, I am a broker... responding to a buyers question (comment #2)
I don't see anything wrong with that.
I think that the 3rd comment was pretty accurate, whether it was from a broker or not?

#3 you probably don't know anyone who owned in the early 90's - MANY people took a bath in manhattan real estate.. I know - I lived thru it. Took much more than 3-5 yrs for prices to recover, and many people couldn't wait it out that long

Broker shouldn't be allowed on this bored, they are ugly and fat.

bad spellers should not be alowed on this board.

lol. meant allowed.

14, wasn't that also the beginning of the turnaround in Manhattan? When everyone started wanting to live here?

Seems like it's getting a little off topic...

There are VERY few good property in Tribeca in the $3.5 Range (3)
No one knows where the market will be in 3 years. If you're sitting in a rental, jump on a property that you fall in love with and if not, then stay put.
Your living situation/ financials might change 3 years from now.

imo 38 warren is overpriced. Kitchen is not nearly nice enough for 3.6. maybe with a price that starts with a 2, but even then...

You are entitled to your opinion...BUT If you think that, then everything on the market is overpriced...
Please let me know what is a better deal in Tribeca at that Price?

luckily I'm not looking in the 3.5 category! I'd be curious to see *your* assessment of why you think it's a fair price, compared to other availabilities. Be candid, please, and don't just puff up your listing. Give it a real hard-assed breakdown for us (you can always post anonymously, after all!). Could be interesting. This board would be even better if *more* brokers (not fewer) contributed anonymously with their real opinions. I am not a broker but I have a lot of respect for (some) of them and have learned a ton. But only when they are off the record.

ok, anonymous at your request...lets take a look at the market in Tribeca ~$3.5

Let me start by going into the recently sold or in contract...
*90 Franklin - sold, listed @ $1300/ft
*21 Jay - 2 sold recently...
One multiple offers over ask which was listed over $1280/sf
One listed at $1470/sf sold in weeks.
*27 n moore sold, listed over $1570/ft

So we're left with the following:
*9 murray listed @ $1300/sf (active)
*270 Bway listed at $3.3
***38 Warren St $3.65 2815sf ($1300/ft)
*92 Laight St $3.795 or $1765/sf

I would like to hear other thoughts? I feel that is pretty candid.

270 broadway is a bad building, their tax and common charges are thru the roof! the penthouse thats listed for 7.4M has over $16,000/month common charges and tax! thats ridiculous

Thanks. Let me say that I do respect the gesture of posting with a name, since you stand by your opinions and are open about the fact that you're a broker. I think that is very respectable. And you're the professional -- not me. But when I compare the sold listings you indicate above to your 38 Warren listing, my sense is that the others have better floorplans and better finishes. 38 Warren carves up the space into those two smallish bedrooms, and there's a long hall with all the bathrooms that (while convenient) isn't the most efficient use of space. The listing images make the kitchen look crowded (get rid of the huge TV on the counter and the computer on the counter and on the floor). The microwave cheapens the look. We're talking perception here, of course; I have no idea what it seems like in person. The entertainment center in the living room looms too large for my taste, and the furniture / art etc. seems a little less tasteful and lived in than in listing photos on comps. 90 Franklin and 21 Jay and 27 N. Moore all look more open, less cluttered, higher end kitchens, newer, more efficient, central AC.

Then there's the "Tribeca Loft with Wrap Terrace" listing at 38 Warren for 2.75: less space but nicer feel, perhaps.

But hey, the market will bear what the market will bear. Inventory is tight, I agree, and if people want a minimum of square footage, location, finishes, 38 Warren will definitely appeal. Good luck.

I am 13, 15, and 18 not 17.

Thanks.

My point was to justify pricing.

I agree with #17 that Tower 270's CCs are through the roof and the location isn't good and the bldg has an uptown feel. (That helps my argument)

As for your case about the more open feel of the other layouts, you are ignoring the pricing.
The bedrooms are a very good size (19.5 x 11' is a very good size 2nd bedroom.)

The ceilings are much higher than the one for $2.75 (which sold in about 2 weeks)
That layout is similar, only its smaller and w/ outdoor...

The furniture and art are not for sale. The entertainment center is not built in.
Unfortunately brokers cannot empty out an apt and put in furniture that would be "tasteful" to everyone.

To sum it up, 38 warren is the best deal at or around $3.5 and is a very good deal when looking at comps.

Maybe the pics don't give it justice, but you always have to have the buyers go in and be impressed and a bit surprised. Otherwise every listing can be sold sight unseen... :)

#7.. yes I remember the early 90s I had purchased my first condo in the suburbs and I too took a bath. Bathing wasn't only left for Manhattan investors. Think about the times, the Wall Street market crashed for the first time since the 20s, the world was changing and the dot com business was in the making. People weren't as real estate focused as they later became. Look what happened since the early 90s, look what happened after 9/11, look at how prices have completely sky rocketed since those days in the early 90s that some people WANT to stick to because I believe they are NOT serious buyers. Anyone in this town that has to run around comparing what was to what is will never buy. It is like fitting a round peg in a square hole. If you want it to fit you will find a round hole. The Manhattan real estate market is very easy to follow and understand. Find a place that you love and have to have and do it.. it is really very simple. By the way, since I invested in the Manhattan marketplace after taking a bath in the suburbs, I have never regretted it... never..
#3 here..