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Soho space- what's sq ft. worth?

Started by NYcityboy
almost 16 years ago
Posts: 10
Member since: Nov 2009
Discussion about
Big classic Soho building on prime Soho, lafayette st. No doorman, brand-new elevator. There is a space that is currently not configured as an apartment. Great light, wooden beams and columns, brick walls, but 2nd floor. Needs to be gutted entirely. What price per square foot would be considered a great deal?
Response by 300_mercer
almost 16 years ago
Posts: 10577
Member since: Feb 2007

700/sq ft (exclude stairs and elevator and exterior wall calculations) if bedrooms with windows are possible. maintenance no more than $1 per sq ft.

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Response by 300_mercer
almost 16 years ago
Posts: 10577
Member since: Feb 2007

Sorry, $700 is the fair price.

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Response by front_porch
almost 16 years ago
Posts: 5320
Member since: Mar 2008

It does depend on how many BRs you can wring out of the space, and how high the ceilings are, but I think $700/sq. ft. would be a great deal indeed for what's described above!

ali r.
DG Neary Realty

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Response by 300_mercer
almost 16 years ago
Posts: 10577
Member since: Feb 2007

If you are looking at spring street natural building, $700 is fair. Smallish windows and lack of character of the building are offset by very low maintenance. Very busy corner!!

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Response by NYcityboy
almost 16 years ago
Posts: 10
Member since: Nov 2009

That's what I thought.

On another very similar but different note, what do you guys think of what they're asking for the second floor of 199 Lafayette? its also a 2nd floor, 8000 sq ft (!!!), currently a dance studio.

Appreciate the input.

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Response by 30yrs_RE_20_in_REO
almost 16 years ago
Posts: 9881
Member since: Mar 2009

1 square foot is worth practically nothing, as it is almost unusable.

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Response by 30yrs_RE_20_in_REO
almost 16 years ago
Posts: 9881
Member since: Mar 2009

On a different note: I'd want to know exactly where all the vent stacks are located and the sizing, what is the real ceiling height, EXACTLY what needs to be done to convert to residential (in fact, I'd probably demand it be delivered with a res C/O - if it's so easy, let them do it; if they won't do it, it's probably not so easy). And very importantly, what's the deal with the commercial space(s) below.

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