Condo on Mulberry St. trades under $650 psqft

http://streeteasy.com/nyc/closing/951540

why is there no original listings for these closings?...is that normal

What's the address, for the non-paying members of the community?

182 mulberry #6

jim, it looks like a sponsor sale. sponsor lists one unit, but if someone wants a different one they might make it available without it ever being listed. shadow inventory.

Face it Mulberry Street was nobody's first choice for a Condo.

Also, these aren't 1,500sf - the building floorplate isn't 1,500sf. If the floorplan is accurate, the units 3-6 are about 1,000sf, I think the top floor has a setback terrace. Expect cruddy construction and low rental finishes. Still, one wonders what it would have sold for in 2006.

http://streeteasy.com/nyc/closing/4323

$1,378,334. #3.

In this market, you play it safe and go with "best of brand" established neighborhoods. Upper East & Upper Wesst side. Avoid the 8 foot ceiling 1950-1970's rental conversions too.

2 blocks off mulberry is soho and you get san gennaro festival every year...that in itself is worth 200 psqft

San Gennaro is the pits. I imagine the third circle of hell looks like San Gennaro on a Friday night.

Regardless of people's personal feelings on the building or the area or the square feet, you go back to January 2004 for a similar unit (albeit a lower floor) selling for the same price, correct? All those other judgments were priced into that sale as well...

"and you get san gennaro festival every year...that in itself is worth 200 psqft"

I used to live on Elizabeth (2 blocks over and a better residential feel, I think), and believe me, San Gennaro is worth negative ppsf. And I absolutely love the area. malthus is right; there's no reason to talk up this sale. It's a positive sign for affordability.

It is tough to tell how comparable the units are though - not sure if anyone has more info? The area around Kenmare has improved tremendously (was fairly unsightly as recently as 18 months ago).

fair enough. I looked at one as a rental. They were pretty basic low-end stuff. I can't imagine any of them were any different, given it seems to be recent construction.

According to the floorplan for #5, units 3-6 are the same. I used to live on Crosby, and I agree about the negative factor for Mulberry Street. Lots of restaurants, so a relatively dirty and noisy street, plus San Gennaro for 2 weeks. However, as Malthus pointed out, this is not new.
I think the area around Kenmare is less gritty than 4 years ago, but Kenmare is still the line of demarcation between tree-lined cuteness ( to the north) and idling wholesale delivery trucks (to the south.) Four years ago, I would have thought the area gentrified by now. The only real plus is proximity to Di Palo.