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Soho is booming

Started by 30yrs_RE_20_in_REO
almost 5 years ago
Posts: 9877
Member since: Mar 2009
Discussion about 31 1/2 Greene Street #4
25% off 2005 pricing plus a gut reno including central air.
Response by lrschober
almost 5 years ago
Posts: 159
Member since: Mar 2013

Once that pent up demand comes roaring back in full, a frenzied bidding war will commence and this loft will sell at 40% above ask by the end of June. Just wait!

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Response by inonada
almost 5 years ago
Posts: 7952
Member since: Oct 2008

That’s an awfully awkward space for $3.75M. At $5M in 2005, it’d be weird. At $7.55M in 2017, it absolutely bizarre.

Turns out it was a case of mistaken identity. This is the one that was $5M in 2005 and $7.55M in 2017:

https://streeteasy.com/building/85-grand-street-new_york/4n

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Response by 30yrs_RE_20_in_REO
almost 5 years ago
Posts: 9877
Member since: Mar 2009

Are you sure about that? The 2005 one shares the 2,000sf description.

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Response by front_porch
almost 5 years ago
Posts: 5316
Member since: Mar 2008

My head hurts a lot. Do I need more coffee?

85 Grand, #4, turns up this off-market listing, which is a box with windows on the long end, and an estimated value of $7mm:

https://www.realtor.com/realestateandhomes-detail/85-Grand-St-Apt-4_New-York_NY_10013_M37852-81275#photo0

31 1/2 Greene, WTF ever that is, also shows up on OLR as 85 Grand, #4. Which shows up on SE as

https://streeteasy.com/building/85-grand-street-new_york/sale/1520320

But look Ma, it ain't got windows on the long side.

ali r.
upstairs realty

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Response by 30yrs_RE_20_in_REO
almost 5 years ago
Posts: 9877
Member since: Mar 2009

Ali,
I think it's obvious this unit isn't the same as the 3,800sf 3 BR, 2.5 baths from 2017. It's not obvious to me it isn't the 2,000sf 2 BR 1 bath from 2005. But since SE is having troubles keeping the units straight I guess anything is possible.

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Response by 300_mercer
almost 5 years ago
Posts: 10570
Member since: Feb 2007

Nada, Good find. I know it as the buyer had just gotten divorced from a senior Wall Street person I know.

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Response by 300_mercer
almost 5 years ago
Posts: 10570
Member since: Feb 2007

Many buildings in the complex which can easily lead to confusion. I find that market price ish sales not associated with a listing always tricky.
https://streeteasy.com/complex/75-85-grand-street

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Response by nyc_sport
almost 5 years ago
Posts: 809
Member since: Jan 2009

The buyer on the 2005 deal was the seller in the 2017 deal, so those are the same 3,700 sq ft unit.

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Response by bramstar
almost 5 years ago
Posts: 1909
Member since: May 2008

A tiny sleeping loft plus 'guest area' does not equal "two bedrooms".

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Response by 30yrs_RE_20_in_REO
almost 5 years ago
Posts: 9877
Member since: Mar 2009

"The buyer on the 2005 deal was the seller in the 2017 deal, so those are the same 3,700 sq ft unit."

Then that settles it - sorry, my mistake.

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Response by inonada
almost 5 years ago
Posts: 7952
Member since: Oct 2008

Sorry, I should have been more clear. As nyc_sport said, seller/buyer matched.

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Response by Ash
over 4 years ago
Posts: 2
Member since: Dec 2018
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