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Woolworth Penhouse

Started by 300_mercer
over 2 years ago
Posts: 10570
Member since: Feb 2007
Discussion about
In case any one missed this. I remember discussing this as a part of some other thread a which back but can't find that thread. Just shows how people made up Ultra-luxury prices. Plus Ultra-luxury genuinely went down 20-30% ignoring this type of aspirational ask. https://www.wsj.com/articles/woolworth-building-penthouse-sells-for-30-million-bc55e3fd?mod=re_lead_pos2
Response by 300_mercer
over 2 years ago
Posts: 10570
Member since: Feb 2007
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Response by stache
over 2 years ago
Posts: 1298
Member since: Jun 2017

It's a neighborhood that a lot of people don't want.

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Response by inonada
over 2 years ago
Posts: 7952
Member since: Oct 2008

I understand the sentiment, but I know two separate people whose means are anything/anywhere that chose this to buy in this building. When I asked one of them “Why not the PH, too much of a project?”, the response was “Ehh, that’s a lotta up & down….”

So I think it’s this apt’s funky configuration, as interesting as it is, that made it a tough sell more than the location. It’s essentially a full-scale townhouse up in the sky, with interesting/awkward window placement, and an elevator that only serves 4 of 7 floors with high ceilings (i.e., lots of steps between floors to boot).

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Response by 300_mercer
over 2 years ago
Posts: 10570
Member since: Feb 2007

Nada, That makes sense. Not having an elevator serving all floor would be problematic for someone spending so much money including on interior build out. By any chance, can you find the thread where you, Aaron and I were fantasizing? Your pick was 56 Leonard. I exhausted my google search ability.

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Response by inonada
over 2 years ago
Posts: 7952
Member since: Oct 2008

Remind me, what were we fantasizing about in that thread — 56 Leonard PH vs Woolworth PH?

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Response by 300_mercer
over 2 years ago
Posts: 10570
Member since: Feb 2007

Went some thing like, if money weren't to be an object, which one would you like downtown?

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Response by Rinette
over 2 years ago
Posts: 646
Member since: Dec 2016

beautiful, iconic building

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Response by 30yrs_RE_20_in_REO
over 2 years ago
Posts: 9877
Member since: Mar 2009

I think it's worth noting that the majority of The Woolworth Building is still office space. That is almost surely going to set off a conflict in the future when major costly building wide construction projects (like a very expensive facade repair) crop up

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Response by Aaron2
over 2 years ago
Posts: 1698
Member since: Mar 2012

I assume it's in the offering plan somewhere as to how costs are divvied up between individual residential condo units, and the office condo unit(s?), and it may get down to who has the votes to make action happen. (any link to the offering plan, not that I have time to read it).

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