Sale at 426 West Broadway #PH6G

"Distinctly European charm"

Old piece of shit.

"understated beauty"

It's a total dump.

"bohemian "

Needs a lot of work.

"residentially classical work of art"

Sucks to actually live in.

"historic architectural views over West Broadway"

You face other buildings. Old buildings.

"opportunity for an urban garden oasis"

Roof is a tar beach that will cost a fortune to actually make useable.

"part-time doorman"

He goes off-duty 5 minutes before you drive up with a car load of packages.

"laundry services on each floor"

No w/d allowed in your apt.

"private storage in the basement upon availability"

Not available now and a 10 year waiting list.

"AIR building - Waiver accepted"

Sure, you promise to move out and lose your investment if ever enforced, and YOU indemnify US for that risk.

You are scaringly knowledgeable... would it be worth 1.7M?

How many artists actually make enough money to cover $12k in monthlies? I don't doubt that there's a few, but come on.

both of them need to come down 30%. $1000-1100 per sq ft for the interior space. A generous $400 per sq ft for the roof as they are large and have a nice soho view.

Apartment entered contract. Will be interesting to see what it goes for.

Dirty secret is it needs a new roof. (saw the apt)

So 6G went for $1,960,000. That's at the very least 15% more than I would have paid.
6F has been on and off the market for a year, they must be dreaming at $2.65m.
Near equal common charges and taxes indicate these apartments are near identical.

JennQueens, if your still around, please confirm if the roof is the dirty little secret or if there is more.....

What do you think about the listing at 468 West Broadway on the 5th floor at 1.99mm? Reduced from $3mm.

Yowzas. Quite a price. Plus my old comment looks really stupid now that I know a fraction more about monthlies and AIR. *cringe*

300M ....I assume you asking me?
That one is actually on my save list. Though I'm steadfast on finding an apartment with outdoor space, I keep track of a few "regular" apartments should I lose patience with my eternal search and decide to dive in.
It has good bones, nothing better than a large square footprint over rectangles. Obviously great location. My one concern however is that considering the great area/ good price per sq ft, every unit in the building seems to go for a below market price per square foot. So it makes me wonder whats up with the building, you know?
We know why 250 mercer is priced where it is, the high monthlies. But this building seems confusing. Maybe that intersection is way too noisy? Landlease? I don't know. Maybe someone else does.
In any case, it's worth a real life visit.

Thanks Truthskr. I felt that given the need of complete reno, tiny elevator, interior bedrooms and high maintenance without doorman, 9-9.5ft ceilings (low for a loft 10ft being more typical), noisy street, $1000 per sq ft is still very expensive. I measured the floor plan generously at 2000 sq ft. Every thing inside of the exterior walls is included. Add $400K for renovation plus trouble. We are talking about $1200 per sq ft. Raw space in 2005 traded at 750 per sq foot in prime Soho.

On 250 mercer in 2003, it used to trade at $700 per sq foot for an apartment in ok condition and the maintenance was 30-40% lower.

Actually I come up with 2100 sq ft and being generous by measuring outside of the perimeter thick lines on the floorplan (or outer brick). The main square ends up 50 by 40.
Im surprised about the ceiling height, I was guessing 12 feet.I think the 9-9.5 height in a building like this is a big deal. You go to a building like this for an amenity of high ceilings.
Surprised about the elevator too, a building like this you envision an above average sized elevator. Are we talking a 4 person elevator small?
And given it's difficulty in getting rented, giving up at $8500, my 200 times monthly rent mantra caps this unit worth at $1.7m

Thanks. It is 9.5 in the front and 9 foot at the back. 4 person in good shape is def small as you can not carry furniture. Many loft buildings have large 8-10 person industrial elevator. I am thinking 1.6mm due to these issues and the need to move the kitchen, new ac unit.

MRussel / Ali, Comments?