Opinion on Sq Ft Pricing

Does the sq footage include exterior walls, stairs and elevator as it common for lofts. For a 1000 sq ft, these can really eat into the usable space. Does the bedroom have a window? Which floor, distance from the other buildings (light)? Too many variables.

there is 1000 square ft of usable space. Windows in what would be the living area and bedroom but not much of a view. windows face south

BABA -- Hard to estimate without knowing more, but I have blogged about some Tribeca to-be-gutted loft sales recently: at 427 Washington St (huge loft, $782/ft), 395 Broadway (great light, $1,000/ft); and in October at 20-26 N. Moore St (little light or view, $1,039/ft). Analysis for a to-be-gutted loft is probably more about the as-built value in that specific building than about a General Rule for gut jobs.

One issue for a small loft (1,000 sf; essentially a starter loft) is that the buyer pool for a loft that size that needs a total gut is limited because buyer needs Down Payment plus Adequate Financial Reserves (per building requirements) plus CASH to pay for the renovation required. Can be a small needle to thread.

Happy to answer other questions you may have: Sandy [at] ManhattanLoftGuy [dot] com.